Downturn: Some of the cottages at home Afrika’s Migaa Gold Estate. The firm has issued a profit warning for 2015 Depressed valuation of publicly listed real estate company Home Afrika’s land and housing assets has contributed some Sh391 million to the firm’s loss of Sh887 million for the year ended December 31. This is almost […]
Business The loss came despite the firm posting a 233 per cent growth in gross revenue Listed real estate developer Home Afrika has sunk into a Sh849 million loss for the year ending December 2019. Last year, the firm reported a Sh346 million loss. Managing Director Dan Awendo attributed the loss to a depressed valuation […]
Home & Away ?A significant drop in the value of properties has seen companies write-down on major investments in the property portfolio. Insurance firms that have invested billions of shillings in the property market are counting losses owing to the low returns from the sector and lack of tenants to take up the huge empty […]
Nairobi — Debt-ridden East African Cables has announced that there will be a delay in the publishing of the audited financial statement for the year ending December 31, 2019. In a statement, the Group’s Company Secretary Virginia Ndunge said the firm has already obtained approval from the Capital Markets Authority granting it the extension. Ndunge […]
On Monday, Home Afrika lost 3.85 percentage points in its share price after closing the day selling its stocks at 0.50 shillings from 0.52 shillings on Friday. While the real estate development company shed points on its share price, it secured a spot in the top movers’ category behind large-cap stocks such as Safaricom, KCB […]
Nairobi bourse-listed real estate developer Home Afrika sunk deeper in the red after posting a Sh346.2 million net loss for year ended December 2018. This represents a 90 percent increase in losses compared to Sh181.7 million it recorded the year before. The troubled firm blamed the worsened performance on lower sales in the local real […]
A slow down on growth of private sector credit is hurting real estate, which heavily relies on bank loans for unit purchases. FILE PHOTO | NMG Nairobi bourse-listed real estate developer Home Afrika #ticker:HAFR sunk deeper in the red after posting a Sh346.2 million net loss for year ended December 2018. This represents a 90 […]
Home Afrika chief executive Dan Awendo. FILE PHOTO | NMG Property developer Home Afrika #ticker:HAFR is set to raise more than Sh600 million by exiting two projects in Kisumu and Kwale, which it was unable to complete due to inadequate capital. The Nairobi Securities Exchange-listed firm is set to sell its land holdings in Kisumu’s […]
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