Housing Finance Group posted a Sh34.2 million net profit in the first quarter of this year, bouncing back from a loss of Sh191.8 million in a similar period last year.
THE STANDARD
REAL ESTATE
The mortgage decline in Kenya comes even as the government accelerates its affordable housing programme. [Courtesy]
No sooner had the grave of Chris Kirubi dried up than Centum Investment, a company the late tycoon founded, recorded its first loss in four decades.
This news must have left the flamboyant billionaire shaking in his grave. But even Kirubi would not be amused was he alive, that one of the most decorated feathers in his investment cap- Two Rivers Mall- contributed to the Sh1.4 billion loss in the year ending March.
It is not only Centum that had a rough patch owing to difficulties in the property market. Almost all the listed companies dealing in real estate have been hit hard by the Covid-19 pandemic.