A major portion of one of Nairobi’s most recognisable skyscrapers is set to go under the hammer. The Le Mac Tower, valued at Sh4.2 billion, faces auction after its developer encountered serious financial difficulties.
Auctioneers Garam Investments announced the sale of 40 two-bedroom apartments spread across different floors of the 24-storey mixed-use building. Five commercial units owned by Mark Prime Properties Limited will also be sold.
The property sits on Land Reference Number 1870/VII/271 along Church Road in Westlands. It occupies 1.32 acres with prominent neighbours including Sanlam House and Safaricom headquarters.
The move marks a dramatic reversal for a project once seen as a symbol of Nairobi’s booming real estate sector. Le Mac Tower rose during a period when developers competed to build taller and more luxurious mixed-use developments in areas such as Westlands, Upper Hill and Kilimani.
The building features six floors of office space and 14 floors of residential apartments. The 23rd floor houses a spa and business centre while the rooftop offers a swimming pool, gymnasium and children’s play area.
Its most distinctive feature is the transparent glass skywalk suspended 126 metres above ground. The 60-millimetre-thick glass floor gives users dramatic views straight down to the streets below.
Mark Prime Properties Limited, led by businessman Ravi Vasta, marketed the tower as a luxury destination. It targeted wealthy Kenyans, expatriates and investors seeking high-end homes with hotel-style amenities.
The developer was placed under administration due to unpaid debts. Ponangipalli Venkata Ramana Rao (PVP) was appointed as administrator. The exact loan amount has not been publicly disclosed.
Court records show the company has faced multiple legal disputes over the years. These challenges contributed to the financial distress that led to the current administration and asset sale.
In 2021, Mark Prime Properties sued Coulson Harney LLP Advocates over Sh136.9 million in proceeds collected from unit buyers. The law firm disputed the full amount claimed.
The company was also involved in disputes with Globe Developers Limited regarding contractual obligations and payments linked to the project. These cases highlighted growing financial pressures on large-scale developments.
The auction represents the latest fallout from the difficulties that have affected several high-profile real estate projects in Nairobi. Rising construction costs, interest rates and slower sales have strained many developers.
Le Mac Tower once stood as an example of Nairobi’s rapid vertical growth. Its current situation reflects broader challenges in the luxury segment of the property market.
Potential buyers at the auction will have an opportunity to acquire units in a landmark building. However, the sale also signals the end of an era for the original developer’s vision.
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