KCB seizes English Point Marina over Sh5bn debt
Tourists at the English Point Marina in Mombasa.
Photo credit: File | Nation Media Group
KCB Group has seized Mombasa’s luxury property English Point Marina and placed Pearl Beach Hotels, the real estate firm that owns it, under statutory management over a Sh5.2 billion debt.
Pearl Beach Hotels has been struggling to meet its obligations to the bank over the years.
A source with direct knowledge of the matter at the Business Registration Services (BRS) confirmed that the lender had taken over the property on Tuesday.
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