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Property owners fear children will waste fortune

A section of the Indian Ocean Beach Resort in South Coast which is under the Jacaranda Hotels and owned by the former Minister Njenga Karume. Property owners fear their children will waste their  fortune when they inherit it. (PHOTO : GIDEON MAUNDU/STANDARD)

James Ogalo* considers himself a budding real estate entrepreneur. A decade ago, he purchased a piece of land in Roysambu, Nairobi and put up residential apartments with a Sacco loan.

Since he is about to retire from paid employment, he is hopeful that proceeds from the rental income will see his three children through school and beyond. His goal is to eventually let his older son run the property as he retires to his rural home in Migori.

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