Still speculative.
Buy for the following speculative reasons:
1. Fair value around 2 therefore dowside is around 50%
2. Company is listed , has access to capuital markets hence can get money to grow sharehplder wealth
3. Loosely held shareholding, easy to buy and get a controlling stake longterm
4. First listed Real Estatedeveloper in kenya
Why not to buy:
1. Still overvalued probability of losses very real
2. Management has competing interests
3. Forget dividends and bonuses
Life is short. Live passionately.