Kings Pride Properties Limited has announced it is shutting down operations in Kenya after more than eight years in property development. A Nairobi High Court issued a liquidation order, appointing a liquidator and giving claimants 30 days to submit details. The closure will affect nearly 300 Kenyan employees.
Kings Pride Properties Limited, headquartered in Nairobi, operated for more than eight years in Kenya's property development sector. The company built a reputation as a leader in accessible home ownership solutions, with developments focused in Nairobi and neighboring counties like Kiambu. It employed nearly 300 Kenyans.
A public notice states that the Nairobi High Court issued a liquidation order, placing the company under winding-up proceedings and appointing a liquidator to take control of assets for sale to settle debts. "All persons having claims against or being indebted to Kings Pride Properties Limited are hereby required to submit full particulars of their claims and supporting documents in writing to the liquidator within 30 days," part of the notice reads.
The notice also prohibits creditors from initiating or continuing legal proceedings against the company without court permission. "All persons are hereby notified that no creditor shall pursue, commence or continue any legal proceedings against the company without first obtaining leave of the court pursuant to the provisions of the Insolvency Act," it adds.
This shutdown joins others in Kenya over the past six months, including KOKO Networks, which exited in February after a dispute over carbon credits, and Wuerth Kenya, set to close in May as part of global restructuring.