After Nicholas Biwott’s Death, His Family Sold Yaya Centre – Meet the New Owners
2 min read
For more than 30 years, Yaya Centre has stood as one of Nairobi’s most recognizable shopping and business hubs. But today, the iconic Kilimani mall is no longer under the ownership of the Biwott family.
So, who bought it — and why was it sold?
Opened in 1992 along Argwings Kodhek Road in the Kilimani-Hurlingham area, Yaya Centre was among Kenya’s earliest modern shopping malls.
It was developed by the late powerful Cabinet Minister and businessman Nicholas Biwott, famously known as the “Total Man.” At the time, the mall was ahead of its era.
Unlike traditional shopping spaces, Yaya Centre combined retail shops, office spaces, restaurants, meeting areas, and residential apartments — making it a unique mixed-use development in Nairobi.
Over the years, it became more than just a mall. For many Nairobi residents, Yaya Centre turned into a landmark and a common point of direction when navigating the city.
The Biwott Business Empire
Before he died in 2017, Nicholas Biwott had built a vast business empire worth billions of shillings. His investments stretched across energy, aviation, construction, and prime real estate in Nairobi.
Yaya Centre was one of the crown jewels in that empire.
For over three decades, the Biwott family maintained ownership of the property. However, in 2023, they made a strategic decision to sell.
Sources indicate the family opted to offload the asset to distribute wealth among heirs and pivot toward more liquid investments instead of continuing to manage a large physical property.
The New Owners Revealed
The buyer? The wealthy Kantaria family.
The property was acquired by the family led by Rasik Kantaria, founder of Prime Bank.
The acquisition process reportedly began quietly in 2020 during the COVID-19 pandemic — a period when many investors were scouting for strategic opportunities.
By August 2023, the private multimillion-shilling deal had been finalized. The Kantaria family, alongside a group of investors, took over:
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Yaya Centre Mall
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Yaya Apartments
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Yaya Hotel
The Kantaria family is no stranger to large investments. Apart from Yaya Centre, they are associated with:
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Radisson Blu Arboretum
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Capital Centre Mall along Mombasa Road
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Leisure Lodge Beach and Golf Resort in Diani
The purchase of Yaya Centre further strengthens their footprint in Kenya’s real estate and hospitality sector.
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