Waterfront Karen Mall Managing Director David Muguku, son to the late billionaire Nelson Muguku has denied media reports that this family property is up for sale.
In a statement, Muguku said the family’s attention had been drawn to information circulating in sections of the media claiming that the Waterfront Karen Shopping Mall is up for sale.
“We would like to dispel this information and let the public, our clients and tenants know that the information is false and does not represent the position of the management,” said Muguku.
The Karen Shopping Complex, situated on 50 acres of land, has used the space to provide room for shoppers to exercise, 1.2 kilometres of walking, cycling, and jogging tracks.
This Karen property is accessible using either Lang’ata or Karen Roads.
The late Nelson Muguku, whose family owns the Waterfront Karen Shopping Mall, was an active investor at the NSE.
However, it was for his stake in Equity Bank that he was best known. He acquired a 6.08% stake before the bank was listed and was for years the bank’s largest individual shareholder.
The Karen Shopping Mall is situated within the intersection between Lang’ata Road, Karen Road and Ngong’ Road.
An artificial lake that sits on a space of 3 acres complemented by 5 acres of the landscaped lakefront is part of The Waterfront Karen.
Beyond enhancing the natural environment, the lake was also created to act as the mall’s primary water storage and recycling area.