President William Ruto has witnessed the signing of investment deals worth nearly one billion dollars, which include the leasing of the Hilton and Intercontinental hotels to Chinese investors.
A total of $823 million (Sh106 billion) was signed on the second of the four-day state visit.
The two iconic hotels, located in Nairobi’s Central Business District, were shut down nearly five years ago due to the Covid-19 pandemic and have remained closed since.
The government has been seeking investors to revive them but faced challenges until now.
Last month, the state announced that the planned divestiture of Nairobi’s iconic Hilton and Intercontinental hotels had encountered difficulties amid struggles to find a buyer for the prime properties.
