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KenyaRe FY19 - FY23 (Both Inclusive)
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Ericsson
#661 Posted : Tuesday, June 08, 2021 10:13:32 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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  | | Edit by user: Wednesday, June 09, 2021 7:41 AM | Reason: Not specified
VituVingiSana
#662 Posted : Wednesday, June 09, 2021 2:33:30 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#663 Posted : Wednesday, June 09, 2021 3:22:53 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


CMA vacated years ago now nearly 10 years.
They went to Embankment building,Upper hill
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#664 Posted : Thursday, June 10, 2021 8:04:24 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
  |
VituVingiSana
#665 Posted : Thursday, June 10, 2021 8:31:06 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Back to top
  |
Queen
#666 Posted : Thursday, June 10, 2021 9:07:01 PM
Rank: Member

Joined: 11/21/2018
Posts: 564
Location: Britain
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


That Prism building in upper Hill has had no single tenant, now in the 4th year since it was commissioned by the President. I wonder who owns it.
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Ericsson
#667 Posted : Thursday, June 10, 2021 9:20:59 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


Government is expanding and snapping up office space in Upper Hill.
I guess you saw an advert by IRA and CMA looking for a building to acquire.
IEBC also wants to purchase a building in the same locality.

KCB is expanding and some of the functions/divisions are taking up the space in Upper Hill.
ODPP of Noordin Hajji took up Union Towers that belongs to UAP after European union moved out.
KDIC (Kenya Deposit Insurance Corporation) has taken 5 floors in Old Mutual UAP Towers.
Those are a few cases of what is boosting office uptake in Upper Hill and that is why government is expanding the roads and infrastructure there.

So 5 years from now the scenario will be different and putting up an office building will not be a waste of money
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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  | | Edit by user: Thursday, June 10, 2021 9:42 PM | Reason: Not specified
Ericsson
#668 Posted : Thursday, June 10, 2021 9:25:08 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Queen wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


That Prism building in upper Hill has had no single tenant, now in the 4th year since it was commissioned by the President. I wonder who owns it.


The building is overlooking Israeli embassy hence no tenant there coz of security reasons.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
  | | Edit by user: Thursday, June 10, 2021 9:35 PM | Reason: Not specified
Queen
#669 Posted : Friday, June 11, 2021 2:26:14 PM
Rank: Member

Joined: 11/21/2018
Posts: 564
Location: Britain
Ericsson wrote:
Queen wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


That Prism building in upper Hill has had no single tenant, now in the 4th year since it was commissioned by the President. I wonder who owns it.


The building is overlooking Israeli embassy hence no tenant there coz of security reasons.


Am not sure whether the Israeli embassy has got anything to do with the lack of occupancy in the building. In any case, next to it there is 4th or is it 5th Ngong Avenue building which is fully occupied. The newly constructed Tourism Fund building also neighbour the embassy and has some tenants already. Besides, the Prism building has lately put up a huge banner (almost covering the entire height of the building) looking for tenants. I suspect the architectural design of the building, which can give you a headache even from the outside, is entirely to blame for the lack of occupancy.

You got to feel pity for the proprietors moreso if they put up the building using credit facilities.
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  | | Edit by user: Friday, June 11, 2021 2:28 PM | Reason: Not specified
VituVingiSana
#670 Posted : Friday, June 11, 2021 3:43:11 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


Government is expanding and snapping up office space in Upper Hill.
I guess you saw an advert by IRA and CMA looking for a building to acquire.
IEBC also wants to purchase a building in the same locality.

KCB is expanding and some of the functions/divisions are taking up the space in Upper Hill.
ODPP of Noordin Hajji took up Union Towers that belongs to UAP after European union moved out.
KDIC (Kenya Deposit Insurance Corporation) has taken 5 floors in Old Mutual UAP Towers.
Those are a few cases of what is boosting office uptake in Upper Hill and that is why government is expanding the roads and infrastructure there.

So 5 years from now the scenario will be different and putting up an office building will not be a waste of money
So the only institution "expanding" is government but that is still not enough. It will be a colossal mistake to build a commercial/office building in UH in the next 5 years.

The ROIs are horrific. KenyaRe is better off going with T-Bonds for the next 5 years. Or investing in other good listed firms with good dividends.

Perhaps middle-class residential (with mixed-use e.g. some shops, some offices) in a skyscraper similar to what the Chinese build in their cities. Or a share buyback!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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