Fahari's net loss decreased to Kshs. 0.3 million from Kshs. 28.4 million in the prior year. This was mainly due to a reduction in the fair value loss on investment property at Greenspan Mall Limited. The Mall recorded a loss of KShs. 2.1 million compared to KShs 30.5 million in 2022. This was, however, offset by an increase in fair value loss on Starling Park Properties of KShs 136.5 million (2022: KShs 125.8 million) on account of lease expiry. The process of finding a replacement tenant is on-going.
ILAM FAHARI I-REIT 2023 ANNUAL REPORT AND FINANCIAL STATEMENTS

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Published: 2024
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