Standard Chartered Plc is selling its East African head office building in Nairobi, a seven-storey property on 1.88 acres in a prime area of the Kenyan capital, as the bank continues to shrink its physical footprint across Africa. [1]
The London-based lender has been cutting back its real estate holdings on the continent, and the Nairobi sale fits that strategy. Standard Chartered Bank Kenya Ltd sold two other properties in Kenya last year, according to the facts provided. [1]
The building sits on valuable land in one of Nairobi's key business districts, a location that has long made the site one of the bank's most prominent addresses in East Africa. [1]
No sale price or completion date was given in the facts. The latest concrete step is the planned disposal of the Nairobi headquarters building. [1]