I read this article and felt the writer had hit the point straight home especially when looking at it from investors point of view both local and most importantly internationally.
14 RIVERSIDE BLOCKS TO BE DEMOLISHED?
It’s difficult to comprehend and even imagine some things. Those who know and have been to 14 Riverside blocks that houses Dusit, Nielsen, Pernod Ricard, Amadeus and other top global names may know that other properties being demolished pales into mere shadows. This is a mega, prime property. Some blocks are marked to come down. It’s amazing. But while government’s intentions might be right (I believe so as this exercise is being commanded straight from State House), we need to think of the repercussions especially in creating an investor friendly environment.
Above everything else, international investors look at the strength and independence of judicial and arbitration processes and structures before putting in their hard earned money. Where this is blurry or there is good reason to suggest the rule of law is applied at the whims of the power holders of the day, they will back-off. Because the culture of the rule of law, if at all it exists, is deemed to hold in eternal, no matter whatever government comes into power.
But the government agencies approved most of these buildings. Fraudulently or not, it’s a question the Kenyan government will have to answer in International Court of Arbitration. This is where this havoc is heading. And the twist that can and might work against Kenya is where the aggrieved parties argues that the same government destroying their property is the same government that issued permits. Because the Kenyan government cannot argue that it’s corrupt officials gave out permits fraudulently. It’s the government. Who is supposed to know where riparian land starts and ends? Is it an investor from San Francisco or a NEMA expert working in, on behalf and for the government?
If it’s proven beyond doubt that the same government doing demolitions is the same government that issued permits, them brace for heavy compensation. The government lawyers should get ready. Am sure this orgy of demolitions will be part of what President Trump will discuss with President Uhuru later in the month when they meet in Washington. Theresa May is also here. This could be a catalyst as British investors might not just sit without petitions from home.
Think about the local financial institutions that financed these construction with the buildings as collateral. The ripple effect will be felt for years. Meanwhile, things could turn sour in coming period. Watching.
Upuzi…you can’t invest more than 1 billion without checking legality of the land.I would even go further and hire private investigators to dig deeper before committing my billions. And believe it or not some honest official might have warned the investor but they still went ahead and either bribed other corrupt officials to get approvals or used their money and influence to sidestep some processes.
If sonko is to be believed the Avic developers bribed kidero…hawa w tile&carpet know how the kenyan system works and probably exploited it fully…time to correct all these past wrongs
14 Riverside is home to multi-nationals such as Reckitt Benckiser, Amadeus Global Travel Distribution Ltd, Colgate Palmolive (EA) Limited and Cellulant Kenya Limited
Who cares, there are other office spaces they can rent. And those jungus ur talking about protecting once they know they are deep in part of a corrupt building will gladly move since they know how evil it is to abet crime even in their motherland.
you are very right but you missed the point, we are looking at this from a different angle,not withstanding the messed up politics and bribes, the overall issue here is are we scaring off investors (mostly future international investors)
Those international investors are simply leasing or renting, their loss will be negligible. These are just corrupt mofos trying to scare the government into ending this crusade. Nyumba za walalahoi Kibera zilibomolewa bila kelele, tuendelee na moyo huo huo. Due diligence is done before investing, so hakuna excuses hapa. The corrupt government officials who issued the permits must also be dealt with, but that doesn’t mean these so called investors should get away with their crimes. The few buildings that will be demolished represent a very tiny part of overall investment, so it won’t discourage investors.
No…international investors are a crooked lot…what we are simply telling them is that if they want to invest here they better do things the right way or else justice will catch up with them however long it takes.
So, the guy from kibera should suck it up and go find a new place to stay at their earliest convenience, but oh horror of horrors if it’s being done to multinationals! Ok.
I asked the same when SANY was bringing down buildings including 3 churches in Dandora on Wednesday.
No talker put up a thread or even a comment. It was as if it wasn’t happening.
[SIZE=7]Nema records show Weston Hotel behind Shanzu beach project[/SIZE]
FRIDAY, AUGUST 17, 2018 17:33
BY MOHAMED AHMED https://www.businessdailyafrica.com/image/view/-/4717210/medRes/2082209/-/maxw/960/-/659webz/-/shanzu.jpgA search on the National Environment Management Authority website shows Weston Hotel Limited applied for the extension of the hotel in Shanzu, Mombasa where journalists were attacked and arrested for covering alleged encroachment of sea land. PHOTO | KEVIN ODIT | NATION MEDIA GROUP [SIZE=6][B]NewsPolice arrest two Nation reporters in Mombasa - VIDEO[/B][/SIZE] [SIZE=6][B]NewsOutcry over arrest and detention of scribes[/B][/SIZE] [SIZE=6][B]NewsBoinnet orders probe into attack on Nation journalists[/B][/SIZE]
National Environment Management Authority (Nema) records show the application for extension and alteration of Dolphin Hotel that is allegedly encroaching on sea land was filed by Weston Hotel Limited.
A search by Nation on the Nema website revealed that the proposed extension was also approved by the environment watchdog under the application number NEMA/EIA/PSR/6347.
Government authorities on Friday swung into action to inspect the construction of the hotel a day after attack and arrest of Nation journalists who were covering the alleged land grabbing.
The National Construction Authority also gave the building a go-head under registration number 301031560016.
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Mombasa Land executive Edward Nyale, Nema and rights activists toured the construction site.
The Mombasa County government and Nema were also put on the spot for failing to act on sea reclamation near the hotel and complaints of blocking of a beach access road.
The visits came as reports indicated some of the security personnel who assaulted journalists Karim Rajan and Laban Walloga were prison warders who have been offering 24-hour watch on the site.
Four police officers have been guarding the site operating in shifts of two.
Police sources revealed that the officers were contracted legally to guard the hotel.
“The beating of journalists and security offered at this hotel is a sign it is owned by a very powerful individual,” Muslim for Human Rights (Muhuri) chairman Khelef Khalifa said.
Mr Karim and Mr Walloga have recorded a statement over the assault and detention at Bamburi Police Station.
This story was originally published on Nation.co.ke
No self respecting Company, even the medium sized ones, operate without a law firm to help navigate around the many legal minefields. In fact the big firms have whole departments fully staffed with a battery of lawyers so there is no excuse here