Real estate is one of the key sectors in which President William Ruto’s family has invested, with residential property providing a steady stream of rental income.
Among the properties linked to the family is Osere Flats, a residential development along Magadi Road in Ongata Rongai, Kajiado County.
The seven-storey complex comprises spacious two-bedroom apartments, featuring modern finishes, balconies, a paved compound and enhanced security. Shops on the ground floor also serve residents and the surrounding community.
The development has been linked to First Daughter Charlene Ruto through Matiny Limited, a company in which she has held a directorship alongside Rael Chebet Kimetto, who has been associated with First Lady Rachel Ruto.
Public records from 2018 shed light on the scale of the rental business at the estate. They showed that Matiny Limited had leased 98 units at Osere Flats to the National Police Service, generating about Sh20.3 million annually.
Under the arrangement, the monthly rent for each apartment worked out to approximately Sh17,262. Over the three-year period from 2015 to 2018, the company received about Sh61 million from the lease.
The records also linked another company, Legend Management Limited, to the management of additional units at Osere Flats.
The firm, which has also been associated with the Ruto family and operations at Weston Hotel, managed 72 apartments under a lease running from December 2017 to December 2020.
That agreement generated approximately Sh16 million annually, equivalent to about Sh222,222 per unit per year or roughly Sh18,519 a month for each apartment.
Combined, the two arrangements covered more than 170 units occupied by police officers, making Osere Flats a significant source of rental income before the government moved to reduce its reliance on mass private housing leases for junior officers.
Charlene’s growing business interests
Charlene’s association with real estate forms part of a wider portfolio of business interests spanning property, hospitality and agriculture.
In 2018, she was appointed Director of Branding and Public Relations at Weston Hotel, a three-star establishment located along Lang’ata Road in Nairobi, owned by President Ruto.
Charlene is also listed as a shareholder in Weston Hotel Limited, the company operating the hotel, with 10,013 shares attributed to her.
Her interests in the property sector extend to Matiny Limited, a real estate company associated with her and her mother, First Lady Rachel Ruto. Available records indicate that Charlene holds one share in the company, while Rachel Ruto holds six shares.
Beyond property and hospitality
Charlene has also ventured beyond traditional real estate and hospitality investments.
She has previously been associated with agricultural initiatives, including interests in farming and beekeeping, reflecting the broader diversification of her business activities.
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