Where super-rich are investing after snubbing real estate

Kenya’s super-rich are cutting their exposure in the property sector and directing billions into money market funds, treasury bonds and real estate investment trusts (Reits) as they seek high returns and liquid assets.

Knight Frank’s latest wealth and investments report shows that the rich with a net worth of at least Sh130 million ($1 million) are not putting cash in residential properties for income and have slowed down on direct investments in office blocks and malls amid a glut.