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Tycoons scramble for seized luxury homes in auctions

Poor weather, costly bank loans and disruptions that followed anti-government protests against the Finance Bill last year have created a growing pool of distressed borrowers whose assets are being seized by newly aggressive lenders.

Photo credit: Shutterstock

By  Patrick Alushula

Business Reporter

Nation Media Group

Wealthy Kenyans are splashing millions of shillings to snap up posh houses and land offered at auctions of seized properties, defying

low demand for similar property in middle- and low-income estates.

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