Very sad for these investors

Okiya

Village Elder
#1
Work your ass off.
Purchase a house/apartment.
Seller anakataa kukupea title to your home.
Years later, auctioneers come knocking wanting to recover 400 million by selling 200 houses meaning each house itauzwa 2m to some bank insiders

IMG_20190716_093147.jpg
 
#3
Ndio maana I respect Guys who buy a plot, make a house mos mos akiwa ndani, na anamaliza. Sukuma iko sorted pale kitchen Garden.

Hii umeffi ya Middro Crass kutaka kuishi in apartments hawajui ata who the real developers are itakoma kabisa. Most il give them 15 years, zitakuwa declared unsafe due to poor workmanship, ndio sasa vita ishike vizuri ploti ni ya nani.

Salamu kwa watu wote wa Kitengela, Kamulu na Joska:D:D:D
 

hakimoto

Elder Statesman
#4
Ndio maana I respect Guys who buy a plot, make a house mos mos akiwa ndani, na anamaliza. Sukuma iko sorted pale kitchen Garden.

Hii umeffi ya Middro Crass kutaka kuishi in apartments hawajui ata who the real developers are itakoma kabisa. Most il give them 15 years, zitakuwa declared unsafe due to poor workmanship, ndio sasa vita ishike vizuri ploti ni ya nani.

Salamu kwa watu wote wa Kitengela, Kamulu na Joska:D:D:D
Utajenga lini..
 

Yunomi

Village Elder
#8
The owners of Sunset Boulevard Management Company are Jonathan Feldman and Samuel Mirie. I can't find a picture of Samuel Mirie online.
 
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Sambamba

Village Elder
#11
A country that can't protect property rights will never develop. To most of those people, that apartment is the biggest investment in thief lives, and now you want to deprive them off that. You want them to be stuck paying mortgages for the rest of their lives for something they don't and will never posses.
Until rule of law is entrenched, we will forever be a poor 3rd World country.
 
#13
A country that can't protect property rights will never develop. To most of those people, that apartment is the biggest investment in thief lives, and now you want to deprive them off that. You want them to be stuck paying mortgages for the rest of their lives for something they don't and will never posses.
Until rule of law is entrenched, we will forever be a poor 3rd World country.
I can't agree with you more.
 

T-Raww1

Village Elder
#14
watu achaneni na izi apartment aki ... i have an uncle who works in one of the leading telcos in kenya ... uyo jamaa has taught me a lot ...First he bought an apartment in kinoo ... policy ya uko ni you can't rent only you sell when moving out ... aliona cha mtema kuni thanks to his background reseaerch akauza akaenda akarent for 6 months uthiru and bought his own house with a garden in loresho at @25m. Told me about the locally used subarus until he imported his own ... told me about some investemnts in mavoko and machakos town. bought 2 acres in Joska and poultry failed tho' it's remote... This past weekend we've been looking for a suitable place to start our own car wash and a garage. rule 1. cater for everything but expect not less than 300 K per month from the workers.
You live you learn. oGOPA
 

Azor Ahai

Village Elder
#15
Where did the money go after the developer received cash from the customers? Directors of the developer company should be arrested.
No they won't. This is Kenya. Na nikisema kununua any property from a developer hukuwa umeffi watu huniona mjinga sana. Either buy a house from an individual with all documents kazi yako ikuwe tu kutransfer title to your name, ama ununue plot ujenge. But middle class don't listen.
 

Swansea

Village Elder
#17
If the buyers payed then the developer failed to remit cash to the bank then he's a fraudster and belongs to jail. This and many more stories like this will continue happening as long as no one does time in jail.
Hapa is where you need your legislators aka MPigs aka "do nothings" to enact laws that would protect investors of this nature.

Lakini, miaka nenda, miaka rudi, if all they sing is "tano tena, kumi fresh", and base their votes solely on that, where will they get redress?
 

Okiya

Village Elder
#19
Ndio maana I respect Guys who buy a plot, make a house mos mos akiwa ndani, na anamaliza. Sukuma iko sorted pale kitchen Garden.

Hii umeffi ya Middro Crass kutaka kuishi in apartments hawajui ata who the real developers are itakoma kabisa. Most il give them 15 years, zitakuwa declared unsafe due to poor workmanship, ndio sasa vita ishike vizuri ploti ni ya nani.

Salamu kwa watu wote wa Kitengela, Kamulu na Joska:D:D:D

My friend. It has nothing to do with middle class living in apartments. Just a rogue system. If you look at the story, the issue is people paid money but the developer failed to remit to the bank... Don't blame the Kenyans..

Wewe endelea kuchekelea investors and you are not sure whether the muhindi remits to NSSF the pension he deducts from you
 
M

Mrs Shosho

Guest
#20
Work your ass off.
Purchase a house/apartment.
Seller anakataa kukupea title to your home.
Years later, auctioneers come knocking wanting to recover 400 million by selling 200 houses meaning each house itauzwa 2m to some bank insiders

View attachment 248533
This is a v serious issue. Kenyans' greed is their undoing. On another matter tho related wale Kenyans watalia loudest are diasporians who have invested heavily in property investment in Kenya blindly, naively and stupidly.
 

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