EALA MP Shahbal honoured by Mombasa Business Community
Business
By
Fred Kagonye
| Dec 09, 2023
East African Legislative Assembly (EALA) MP and businessman Suleiman Shahbal has been honoured for his exemplary contribution by the Mombasa Business Community.
Shahbal, the Chairman of GulfCap Real Estate, Africa's largest real estate developer, was bestowed with the award in recognition of his outstanding years of service, unwavering devotion, and steadfast support to the local business community.
He was awarded during the Mombasa Business Awards Gala Dinner hosted by the Kenya National Chambers of Commerce and Industry (KNNCI) on Friday at Sarova Whitesands Hotel.
The recognition comes at a time when his company, GulfCap Real Estate was awarded as the best real estate developer in Africa in Namibia by the African Union for Housing Finance (AUFC) last month.
In the same month of November, President William Ruto launched Phase 2 of the Buxton Point project in Mombasa, which was undertaken by his company.
READ MORE
Hinga: Finance Bill proposals on affordable housing will make selling of units hard
Banks warn VAT on transactions could damage Kenya's economy
Gachagua defends budget request to renovate homes, office, and buy new cars
Kimani Ichung'wah defends Ruto's taxes ahead of Parliament debate
Finance Bill 2024 will make life harder; tell lawmakers exactly that
Finance Bill proposals streamline how one can sell affordable housing units
Senate, National Assembly rivalry rekindled over counties funding
Treasury demand for more taxes will hurt Kenyans
CoG faults MPs for rejecting Senate's bid to give counties Sh415 billion
MPs reject Senate's proposal to increase counties allocation to Sh415 billion
Notable among the initiatives undertaken by his company are the Starehe Point project in Nairobi, valued at Sh20 billion, and the Buxton Point project in Mombasa worth Sh6 billion.
KNCCI Deputy President Mustafa Ramadhan said the accolade stands as a testament to his significant impact and leadership within the industry.
“Shahbal has always been our advisor on matters of trade and investment. He has been there for us whenever we want him,” he said.
The chamber’s Mombasa chapter chairman Abud Jamal said Shahbal’s leadership and story have impacted many in the business community.
Reacting to the award Shahbal said “The chamber mentioned that the award is in appreciation of my service, devotion, and support to the business community, but it is my honor to appreciate them for having confidence in our leadership. I am humbled!”
He has interests in the oil business, power, real estate, hospitality, and the banking sector where he started the first Sharia-compliant bank- Gulf African Bank.
- Kenya, Uganda to extend oil pipeline from Eldoret to Kampala
- Hinga: Finance Bill proposals on affordable housing will make selling of units hard
- Airtel wins Sh4 billion landmark case over distribution of phones
- Banks warn VAT on transactions could damage Kenya's economy
- Treasury demand for more taxes will hurt Kenyans