Tourism investors in Kilifi selling properties

The multi-million-shilling tourism industry in Malindi has been hit by low business, leading to sale or closure of some hotels.

Some investors confided to The Standard that the value of prime land and villas had gone down by 50 per cent after tourist numbers dropped.

Dr Pierino Liana, Director of EXCON limited and Atmosphere Home that deals with consultancy, furniture and interior designs said many of the foreigners who own luxurious property feel the resort town has been abandoned.

Dr Liana said villas that could fetch up to Sh350 million have gone down to Sh140 million.

"Personally I cannot invest more in my workshop, previously there was a lot of work, now there is no work, no one is building," he said yesterday.

A spot check by The Standard showed several properties up for sale by their owners who are mostly foreigners but they still could not get a buyer.

Popular resorts

In the upmarket Casuarina area, there are many "Up for Sale" signs outside buildings.

Several resorts that were once quite popular have collapsed, contributing to massive job losses.

Liana said there has been an outcry from investors and local tourism stakeholders for the government to fix the infrastructure, but it has taken long for the authorities to respond.

The areas that the investors feel have been abandoned include the relocation of the Malindi dumpsite, which is within Casuarina area, bordering hundreds of villas and hotels.

Further, the investors claim the roads are in poor condition. At night it is difficult for guests or those on holiday to go to town due to security concerns, the hoteliers said.

President Uhuru Kenyatta set up new lighting system within the resort town, but the town is still dark.