NoCK fails to honor deal and now they might just lose their building

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It seems the National Olympic Committee of Kenya (Nock) has been unable to rescue its stalled construction of its Sh1 billion headquarters, Nock Plaza at Upper Hill, Nairobi. Sidian Bank, who were the main financier and had put in Sh 400million as the first instalment of the Sh 800 million package, have put the stalled building under the hammer on April 5.

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In an advertisement in Daily Nation of March 18, Regent Auctioneers said: “Duly instructed by our clients, charges we shall sell the mentioned prime property by public auction on Friday April 5, 2019 at our Auction Marty New Kireita Building, Kirinyaga Road at 11am.” It had been estimated that the Nock Plaza would cost an estimated Sh 1.2 billion with Sidian Bank being the main financier with Sh 800million. The construction of the Nock headquarters started in 2014.

Nock would then take care of the remaining Sh 400million. Nock had not remitted part of their agreement.

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