Industry

Firm gets nod for Portland land purchase

Greenpark Estate, by Superior Homes, on Mombasa Road. A court has allowed Superior Homes to proceed with acquisition of contested parcel in Athi River. FILE PHOTO | NMG
Greenpark Estate, by Superior Homes, on Mombasa Road. A court has allowed Superior Homes to proceed with acquisition of contested parcel in Athi River. FILE PHOTO | NMG 

A property company has been allowed to proceed with the purchase of a Sh750 million contested prime parcel of land in Athi River owned by East African Portland Cement Company. #ticker:PORT

The cement manufacturing company was appealing a High Court decision, which had extended the period for it to conclude land transaction with Superior Homes Ltd — a property development firm.

Court of Appeal judges Philip Waki, Roselyne Nambuye and Patrick Kiage found that Portland was not acting in good faith in the transaction, which it later terminated.