•The exclusive auction by the institution will take place on Thursday, September 19, offering an opportunity for investors and homebuyers to acquire real estate assets.
•The properties under auction include Pine City, Serene Vally, Translake, KMA apartments and Eden apartments.
Pan-African housing developer-Shelter Afrique Development Bank (ShafDB), has announced a private auction for the sale of prime residential properties in five counties.
The exclusive auction by the institution will take place on Thursday, September 19, offering an opportunity for investors and homebuyers to acquire real estate assets.
The properties under auction include Pine City in Athi River (Machakos) Serene Vally in Rironi (Kiambu), Translake along Kibos Road (Kisumu), KMA apartments in Mtwapa (Kilifi)and Eden apartments in Shanzu, (Mombasa).
“The properties available for auction include a diverse range of residential units, from luxury apartments to spacious family homes, carefully curated to meet the needs of discerning buyers looking for investment opportunities or a new home in these strategically significant areas.” the organisation said in a notice.
According to the institution which is focused on financing and advancing housing, urban, and related infrastructure development in the continent, the auction is part of its commitment to provide innovative solutions to the real estate market.
"..this auction is part of our strategy to support housing development across the continent," it said.
The auction will take place at Shelter Afrique Centre, along Longonot Road, Upper Hill, Nairobi, starting at 10.00am.
To ensure a smooth and transparent auction process, ShafDB has partnered with leading real estate professionals, Joyland Auctioneers, to provide potential buyers with comprehensive property information.
The auction will be conducted through a transparent and competitive bidding process, the firm said, with properties awarded to the highest bidder.
In the event of identical bids, precedence will be given to the earliest bid as recorded in the registry. Prospective bidders are required to submit a refundable deposit of Sh100,000 to secure a bidding number.
"A comprehensive list of the available properties has been provided for reference. Interested parties are encouraged to review this information and prepare accordingly," managment said.
Shelter Afrique was elevated into a development bank last year after approval by its shareholders.
This was during the Extraordinary General Meeting (EGM) in Algiers, Algeria between October 4th -5th.
Managing director Thierno-Habib Hann at the time said the transformation will be evident through increased housing unit financing and construction and improved access to decent, sustainable and affordable housing.
As of last year, Kenya was the biggest shareholder in the Nairobi-headquarterd institution with a 16.85 per cent stake, even as other African states continue to push for bigger stakes.
Nigeria was second with 15.8 per cent shareholding with other major shareholders being the African Development Bank (12.6 per cent), Mali (5.3 per cent) and Ghana (5.05).