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Papa Investor
#31 Posted : Tuesday, July 24, 2012 11:37:44 AM
Rank: New-farer

Joined: 6/3/2010
Posts: 96
accelriskconsult wrote:
kenyanbeef wrote:
I find the idea of a gated community very appealing for various reasons. Top it up with the golf concept and it gets irresistible. Plus Athi River is attracting some serious projects like Konza ICT park. Now that Migaa went south for most of us who missed out on the early deals... How is iluluwe progressing? Any investors on Wazua? And why haven't they advertised on mainstream print or broadcast media?
I know 2 men(one a big time lawyer and the other a director in a listed company) who bought the quarter acres. They told me that Lee Karuri offered them discounted prices since they are friends. I do not know whether all the plots are sold or not. An environment impact survey was done by NEMA, see link.www.nema.go.ke/.../index.php?...iluluwe... Land around that place is appreciating very fast.
So far they only have a signpost to indicate the location. Nothing on the ground yet though the road to the place had been re murramed before the rains...
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kenyanbeef
#32 Posted : Friday, August 23, 2013 7:42:43 PM
Rank: Member

Joined: 7/24/2009
Posts: 273
Turned out to be an investment scam!!! Where do duped investors seek reprieve?
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mwekez@ji
#33 Posted : Saturday, August 24, 2013 8:00:36 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
kenyanbeef wrote:
Turned out to be an investment scam!!! Where do duped investors seek reprieve?
Tell us more .... what is the value of the plots now?
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a4architect.com
#34 Posted : Saturday, August 24, 2013 9:02:15 AM
Rank: Veteran

Joined: 1/4/2010
Posts: 1,668
Location: nairobi
@kenyanbeef..its a case of willing buyer willing seller. Maybe you cancheck on the contract and see what was promised but not delivered etc etc. Its always good to do your own feasibility before buying.
As Iron Sharpens Iron, So one Man Sharpens Another.
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Am
#35 Posted : Saturday, August 24, 2013 10:31:18 AM
Rank: Veteran

Joined: 2/21/2012
Posts: 1,739
kenyanbeef wrote:
Turned out to be an investment scam!!! Where do duped investors seek reprieve?
Really? That is sad. Passed by the extensive property a month or so ago and grass and Shrubs have grown, Covering the roads that they had started digging months earlier. Did not seem like there is hope of something serious Coming up soon.
Do not be anxious about anything, but in everything, by prayer and petition, with thanksgiving, present your requests to God..
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Cde Monomotapa
#36 Posted : Saturday, August 24, 2013 1:03:54 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Such projects are grand visions which is very noble. Consequently, the distance from here to there is long. The question is what are the legal rights & obligations of the parties involved. Purchaser, promoter, management Co. How and who to finance. Can someone share some practical experience?
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wanyuru
#37 Posted : Monday, August 26, 2013 2:33:00 PM
Rank: Veteran

Joined: 11/29/2007
Posts: 948
kenyanbeef wrote:
Turned out to be an investment scam!!! Where do duped investors seek reprieve?
Sad Sad what happened? seems like it was a family thing BOARD OF DIRECTORS James.K. Mutua, R.K.Mutua, S.N.Mutua, S.M Mutua, M.W.Mutua, P.M.Mutua
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murchr
#38 Posted : Tuesday, August 27, 2013 12:46:21 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
wanyuru wrote:
kenyanbeef wrote:
Turned out to be an investment scam!!! Where do duped investors seek reprieve?
Sad Sad what happened? seems like it was a family thing BOARD OF DIRECTORS James.K. Mutua, R.K.Mutua, S.N.Mutua, S.M Mutua, M.W.Mutua, P.M.Mutua
Its possible they are waiting for Konza to start up b4 they begin construction..that could be their target market. Lukenya where the land is was owned by ranchers (Lukenya Ranchers) a sacco kind of association and when they dissolved the association each member got land according to the shares they held. So the Mutua's could have inherited the land.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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kenyanbeef
#39 Posted : Sunday, September 08, 2013 11:53:52 PM
Rank: Member

Joined: 7/24/2009
Posts: 273
The guys insist the project is still on but no explanation for the delays in starting out a project that was supposedly to take 3 years as from 2011. Guess the crime here is holding onto investors money, probably making millions, while we get nothing for that time as we speculate whether or not the thing will ever take off. The only recourse is seeking refund to invest elsewhere with interest! Any lawyers in the house to advise further?
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Wendz
#40 Posted : Monday, September 09, 2013 2:24:53 PM
Rank: Elder

Joined: 6/19/2008
Posts: 4,268
kenyanbeef wrote:
The guys insist the project is still on but no explanation for the delays in starting out a project that was supposedly to take 3 years as from 2011. Guess the crime here is holding onto investors money, probably making millions, while we get nothing for that time as we speculate whether or not the thing will ever take off. The only recourse is seeking refund to invest elsewhere with interest! Any lawyers in the house to advise further?
This does not sound very encouraging.... so, if the directors are all these Mutuas, how does Mr. Lee come in? What was his role in this project?
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