How the fallacy of growing consumer class was born

Garden City Mall. [Andrew Kilonzi, Standard]

When Peter and Sue Muraya made forays into the property market in 2006, their plan was to build affordable apartments, town houses, villas as well as malls for the middle class. And they did.

They criticised the then developers who had allegedly forgotten the millions of middle-class families that were also eager to be part of what the former chairman of the United States Federal Reserve, Alan Greenspan, described as the ‘new normal’ of owning a home.