PROPERTY SECTOR DEBT: Banks should be more flexible
Real estate sector players have urged banks to re-engage and continue negotiation on how the sector will clear its loan obligations in view of the current hurdles. The Real Estate Institute of East Africa, cites a 20% reduction on the retail side of the property business, is adversely affecting cash flows. At least more than 78% of the financial industry's credit lines of 29 Trillion shillings are anchored on commercial and residential assets.
