A significant portion of the Sh4.2 billion Le Mac Tower building, one of Nairobi’s most recognisable skyscrapers famed for its glass skywalks and rooftop amenities, is set to go under the hammer after its developer was placed under administration over unpaid debts.
Auctioneers Garam Investments announced that they will auction 40 two-bedroom apartments spread across different levels of the 24-storey mixed-use tower, as well as five commercial units owned by Mark Prime Properties Limited, which is currently under administration.
‘All that parcel of land known as Land Reference Number 1870/VII/271, Le Mac, Church Road, Westlands, Nairobi, all registered in the name of Mark Prime Properties Limited (under administration),’ reads the auction notice. The Business Daily unsuccessfully tried to reach the auctioneer for further details on the planned sale.
The development sits on 1.32 acres along Church Road in Westlands, with Sanlam House and Safaricom headquarters among its prominent neighbours.
The move marks a dramatic turn for a project that once symbolised Nairobi’s race-to-the-sky real estate boom.
Le Mac emerged during a period when developers competed to build ever taller and more extravagant mixed-use developments in affluent neighbourhoods such as Westlands, Upper Hill and Kilimani.
The building comprises six floors of office space and 14 floors of residential apartments. The 23rd floor hosts a spa and business centre, while the rooftop features a swimming pool, gymnasium and children’s play area.
Its most striking feature remains the transparent glass walkway suspended about 126 metres above the ground. The 60-millimetre-thick glass floor allows visitors to look directly down at traffic and pedestrians below, offering panoramic views of Nairobi’s skyline and making the tower one of the city’s most distinctive buildings.
The developer, led by businessman Ravi Vasta, marketed the project as a luxury destination for wealthy Kenyans, expatriates and investors seeking trophy homes with hotel-style amenities.
The administration follows the appointment of Ponangipalli Venkata Ramana Rao (PVP) as administrator of Mark Prime Properties Limited over a loan whose value has not been publicly disclosed.
Court records show that the company has been involved in a series of legal disputes over the years as the ambitious project encountered financial and operational challenges.
In 2021, Mark Prime Properties Limited, the project’s promoter, sued Coulson Harney LLP Advocates in a dispute over Sh136.9 million in proceeds collected from purchasers of units at Le Mac.
The developer argued that the law firm should surrender funds received from buyers following the termination of their professional relationship. The advocates disputed the amount claimed, saying they had received Sh93.5 million and had already accounted for the funds.
The dispute highlighted tensions surrounding the sale and transfer of units within the development at a time when the company was seeking to complete registrations for buyers.
Mark Prime Properties was also embroiled in a dispute with Globe Developers Limited over commercial arrangements connected to the development. Court filings show the parties disagreed over contractual obligations and payments linked to the project, reflecting the increasingly complex financial pressures surrounding large-scale mixed-use developments.
Recent High Court proceedings have further exposed the financial distress facing the company, culminating in the appointment of an administrator and the planned disposal of assets to recover debts.