The Odinga family is one of the wealthiest families in Kenya with multiple investments across various sectors.
Besides fortunes from politics, the family has heavily invested in real estate and the energy sector and runs the East Africa Spectre, which deals with gas cylinders.
The family also reportedly owns Lennox Development, Duma Investments, Newspoint, Adopo Capital, Kango Enterprises, and Spectre International.
The Odinga’s also have directorial and shareholding in companies such as Jahazi Development, Pan African Petroleum, Creative Hub, Wutho Holdings, and Be Energy.
As part of their real estate investment, the Odinga family is currently running a Sh120 billion project on a 285-acre piece of land.
Dubbed LV Marina, the housing project by GulfCap Real Estate is being developed on the shores of Lake Victoria, just five minutes from Kisumu International Airport.
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According to media reports, the 1,400 houses project includes bespoke waterfront villas, high end apartments, state-of-the-art social infrastructure, light industrial parks, commercial hubs featuring retail centres, hotels, conference facilities, and schools.
Speaking during the launch of the multi-billion project, former Prime Minister Raila Odinga revealed that the idea to develop the estate was inspired by the collapse of the molasses plant.
‘We decided that the housing project is the most ideal for this region. I negotiated with my brother Shahbal, and he agreed that we can go ahead with the project,’ Odinga told the Daily Nation.”
GulfCap CEO Chris Ochieng said the project will take six years to complete. With an initial phase valued at Sh40 billion, the project is intended to reshape the metropolitan landscape, requiring a total expenditure of Sh120 billion.
