Struggling Uchumi Supermarkets’ recent sale of a 20-acre piece of land in Roysambu, Nairobi, to a church group for Sh2.8 billion has received a huge blow. Judges Philip Waki, Mohammed Warsame and Agnes Murgor have refused to strike out a case that Sidhi Investments filed against Uchumi in 2005, claiming that the retailer reneged on a sale deal after receiving 10 per cent payment for the land. During Uchumi’s first cash crunch in 2005, the retail chain set its sights on selling the Roysambu land to ease its financial troubles. SALE DEAL On March 9, 2005, Sidhi Investments offered to buy the land for Sh118 million, which Uchumi was satisfied with. The firm agreed to pay a 10 per cent deposit for the land and wrote a Sh11.8 million cheque in favour of Uchumi. But two days later Uchumi advertised the land for sale and Sidhi Investments decided to sue. https://www.nation.co.ke...63934-ujyvy5z/index.html

But that is not that good advice about not waiting to buy, but buy and then wait. People in other countries who I know personally have bought small flats and it was so much reduced in price when they wait that you can only imagine anyway. Now it costs like 50% of what it was really.

Housing Finance is already selling houses at a 30% discount of what they were selling them @. Other developers are doing the same. When it takes up to 2 years after completion to even get close to 50% uptake, then you know things are thick!!!