A bank has put up for auction Sh384 million luxury residential houses in the upmarket Lavington suburb after the developers, Peter and Susan Muraya (Suraya), failed to settle a loan.
The development, Tiara Villas, is part of the vast Suraya real estate empire that is valued at billions of shillings.
The auction notice published Monday by Garam Auctioneers invited potential buyers of the estate to attend a fire sale Tuesday, signalling distress for off-plan buyers who were to pay Sh48 million for each town house.
Mimi huona kwa ngaseti wakisema 80 or 90% sold or reserved nashangaa if it’s almost sold why continue advertising even for more than six months! Ni Kama zile scams za gari imebakisha mtu mmoja iondoke kuingia only to realize yote ni seti na wewe ndo abiria wa Kwanza!
While the real estate in Kenya is solid and not about to go bonkers soon it’s not also as Rosy as they paint the picture
I almost bought into ile offer yao ya studio apartment at ksh 950k sometime back it seemed big for a young man at the time but changed my mind after viewing the model house huko kwa hq yao huko westy
The Gatabakis signed a joint venture deal with suraya for the four way junction project… They were to offer a 20 acres in exchange of a % of the profits… The minute they realised how profitable the venture was waka anza ovyo and the matter ended up in court. suraya won the case.