Established and opened to the public in 1992, Yaya Centre has been a major landmark in the capital city as well as a shopping and commercial hub in Kenya for over three decades.
Located around Kilimani-Hurlingham, Nairobi, it was not only one of the country’s first major malls but also featured offices, retail outlets, and residential spaces, making it one of a kind at the time of its founding.
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The mall was founded by late former Cabinet Minister and renowned businessman Nicolas Biwott, before being acquired by the Kantaria family nearly 30 years later.
In this segment, Times Digital Kenya highlights the history of Yaya Centre and its transition from the original founders to the new owners.
Background of Yaya Centre
Located along Argwings Kodhek Road around Kilimani-Hurlingham, Nairobi, Yaya Centre was founded in the late 1980s and officially opened in 1992.
As part of the business empire of the late Nicholas Biwott, also known as the “Total Man,” it was one of Kenya’s first malls, offering shopping, meeting spaces, dining, and a variety of services.
Apart from its services, Yaya Centre has been a landmark in Nairobi for decades, and many people have used it as a point of reference when visiting the surrounding area.
The Biwott Family and the Sale of Yaya Centre
Before his death in 2017, Nicholas Biwott was a well-known business tycoon in Kenya.
The “Total Man” left behind a multibillion-shilling property empire to his family, including prime Nairobi assets such as Yaya Centre, along with investments in sectors like energy, construction, and aviation.
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After owning Yaya Centre for over 30 years, the Biwott family decided to sell it in 2023, reportedly to distribute the wealth among heirs and to shift toward more liquid investments rather than managing a large physical asset.
The New Owners
The Biwott family sold Yaya Centre to the wealthy Kantaria family, led by Rasik Kantaria, the founder of Prime Bank.
The acquisition process began quietly in 2020 amid the COVID-19 pandemic, a year in which the Kantaria family, in collaboration with three other investor families, also acquired the Radisson Blu Arboretum Hotel.
The multimillion-shilling private transaction that finalized around August 2023, saw the Kantaria family team up with a group of investors to acquire Yaya Centre Mall, Yaya Apartments, as well as the Yaya Hotel.
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In addition to Yaya Centre and the Radisson Blu Arboretum Hotel, the Kantaria family owns other multimillion-shilling assets, including Capital Centre Mall along Mombasa Road and the Leisure Lodge Beach and Golf Resort in Diani, among others.
