Nairobi, July 8 -- An interim valuation has revealed that the Kenya Railways Corporation's (KRC) vast land portfolio may have been undervalued by more than Sh140 billion, exposing years of failure to update property valuations as required under its own accounting policy.

The first major findings from an ongoing nationwide valuation exercise estimate the market value of KRC's land assets in the Central Region alone at about Sh160 billion. This contrasts sharply with the Sh18.75 billion value recorded in the corporation's books for the year ended June 2025, according to the latest report by Auditor-General Nancy Gathungu.

The valuation is being undertaken jointly by KRC and the Ministry of Lands after repeated audit queries over the relia...