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USIU land GRABBED - 40 acres!
Rank: Veteran You have been a member since:: 8/25/2012 Posts: 1,826
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Jaina wrote:Wakanyugi wrote:Kusadikika wrote:I think the money trail is easier to follow than the paper trail. Moi can say he did not sell the land in 1988 nor did he sign the transfer document but if it can be shown that he received money then he will have to explain what it was for.
This is a classic case of exactly what is wrong with Kenya and why we will remain underdeveloped for a long time:
An empty piece of land is:
Sold for Ksh. 600,000 in 1982 Sold for Ksh. 10,000,000 in 1988 Sold for Ksh. 17,000,000 in February 1999 Sold for Ksh. 90,000,000 in May 1999 Sold for Ksh.500,000,000 in 2016
This is madness. The value of that empty piece of land rose 83,300% in 34 years or an annual compound growth rate of 21.87 % for an empty piece of land!!?? No industry, no development, no work put in it, nothing, just buying it and locking the title in a cabinet and voila, 34 years later it has multiplied 833 times. Something is very wrong. This is clear evidence that we have a bubble economy. I remember someone doing a similar analysis of house prices in Kieleshwa, Ruda etc. There is simply no relationship between price and value and a big chunk of the real estate business, it seems, has been grabbed by money launderers. Clearly something has to pop. The only question is when. Please leave the analysts incremental percentages on land and you will somehow understand the logic of The law of demand and supply. If there is demand for a product and there is no supply, then the price will definitely increase. Anyone with 10 Acres + land anywhere along Thika and or Kiambu Roads and is willing to sell can easily get offered 30-50 Million per acre. You can talk of the same about upperhill, Runda etc. The price of a farmland in Ngoingwa -Thika around 1980 was Ksh 3000 per Acre. Today similar parcel is priced at 5 Million for Quarter acre. Wait for the bubble to burst alone, coz such things dint happen in cash driven system like ours I don't think a bubble exists there are a few areas where value increases greatly, but those are the exception, but in general for the majority parts of the country the cost of land in the 80's and now is not that different if you factor in inflation and time. plus there is a difference between value and cash, sometimes those 5 million valued plots might surprise you when it comes to converting them into cash. utaweka ads huko red and green sections then realize guys are misers they will bargain that price to 1m
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Rank: Veteran Joined: 7/3/2007 Posts: 1,635
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Jaina wrote:Wakanyugi wrote:Kusadikika wrote:I think the money trail is easier to follow than the paper trail. Moi can say he did not sell the land in 1988 nor did he sign the transfer document but if it can be shown that he received money then he will have to explain what it was for.
This is a classic case of exactly what is wrong with Kenya and why we will remain underdeveloped for a long time:
An empty piece of land is:
Sold for Ksh. 600,000 in 1982 Sold for Ksh. 10,000,000 in 1988 Sold for Ksh. 17,000,000 in February 1999 Sold for Ksh. 90,000,000 in May 1999 Sold for Ksh.500,000,000 in 2016
This is madness. The value of that empty piece of land rose 83,300% in 34 years or an annual compound growth rate of 21.87 % for an empty piece of land!!?? No industry, no development, no work put in it, nothing, just buying it and locking the title in a cabinet and voila, 34 years later it has multiplied 833 times. Something is very wrong. This is clear evidence that we have a bubble economy. I remember someone doing a similar analysis of house prices in Kieleshwa, Ruda etc. There is simply no relationship between price and value and a big chunk of the real estate business, it seems, has been grabbed by money launderers. Clearly something has to pop. The only question is when. Please leave the analysts incremental percentages on land and you will somehow understand the logic of The law of demand and supply. If there is demand for a product and there is no supply, then the price will definitely increase. Anyone with 10 Acres + land anywhere along Thika and or Kiambu Roads and is willing to sell can easily get offered 30-50 Million per acre. You can talk of the same about upperhill, Runda etc. The price of a farmland in Ngoingwa -Thika around 1980 was Ksh 3000 per Acre. Today similar parcel is priced at 5 Million for Quarter acre. Wait for the bubble to burst alone, coz such things dint happen in cash driven system like ours Don't quote me on this but, I think you are wrong. Here the factors: 1. KDF/AU and the civilization of Somalia results: piracy money kwisa; Kisimayu smuggling money kwisa. And now Nkaissery wants to build a wall, sukari ya kuiba, onge. 2. Opus Dei governor and the enforcement of KYC: results, avenues for laundering money closed. Now most crooks and er...tender-preneurs are forced to keep money under the mattress. Wait until the robbers catch and you will hear some fantastic house break-ins Very soon Kenyans will be forced to do honest business or employment to be able to afford to purchase real estate at such crazy prices. When was the last time you heard of a 22% pay increase for anybody? Something has to change "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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Rank: Veteran Joined: 4/1/2009 Posts: 1,884
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Jaina wrote:Wakanyugi wrote:Kusadikika wrote:I think the money trail is easier to follow than the paper trail. Moi can say he did not sell the land in 1988 nor did he sign the transfer document but if it can be shown that he received money then he will have to explain what it was for.
This is a classic case of exactly what is wrong with Kenya and why we will remain underdeveloped for a long time:
An empty piece of land is:
Sold for Ksh. 600,000 in 1982 Sold for Ksh. 10,000,000 in 1988 Sold for Ksh. 17,000,000 in February 1999 Sold for Ksh. 90,000,000 in May 1999 Sold for Ksh.500,000,000 in 2016
This is madness. The value of that empty piece of land rose 83,300% in 34 years or an annual compound growth rate of 21.87 % for an empty piece of land!!?? No industry, no development, no work put in it, nothing, just buying it and locking the title in a cabinet and voila, 34 years later it has multiplied 833 times. Something is very wrong. This is clear evidence that we have a bubble economy. I remember someone doing a similar analysis of house prices in Kieleshwa, Ruda etc. There is simply no relationship between price and value and a big chunk of the real estate business, it seems, has been grabbed by money launderers. Clearly something has to pop. The only question is when. Please leave the analysts incremental percentages on land and you will somehow understand the logic of The law of demand and supply. If there is demand for a product and there is no supply, then the price will definitely increase. Anyone with 10 Acres + land anywhere along Thika and or Kiambu Roads and is willing to sell can easily get offered 30-50 Million per acre. You can talk of the same about upperhill, Runda etc. The price of a farmland in Ngoingwa -Thika around 1980 was Ksh 3000 per Acre. Today similar parcel is priced at 5 Million for Quarter acre. Wait for the bubble to burst alone, coz such things dint happen in cash driven system like ours are you sure about 30-50 million per acre in upperhill?
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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http://www.businessdaily...8422-5xkj4mz/index.html
"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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Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya
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murchr wrote:http://www.businessdailyafrica.com/USIU-sues-Moi-in-prime-Nairobi-land-row/539546-3328422-5xkj4mz/index.html
Me and my sons have over 600b stashed abroad(kroll report).what harm will it do me to only take 1b which is 0.15% of my stashed cash pay off this noise makers USIU-AND the other guy and I retire in peace without my named being dragged into mud? Wapi common sense hapa?
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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enyands wrote:murchr wrote:http://www.businessdailyafrica.com/USIU-sues-Moi-in-prime-Nairobi-land-row/539546-3328422-5xkj4mz/index.html
Me and my sons have over 600b stashed abroad(kroll report).what harm will it do me to only take 1b which is 0.15% of my stashed cash pay off this noise makers USIU-AND the other guy and I retire in peace without my named being dragged into mud? Wapi common sense hapa? USIU will fight this like Malcolm Bell. I only pity Kiogera who came in with cash he worked so hard for to finance KANU "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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Rank: User Joined: 1/20/2014 Posts: 3,528
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enyands wrote:murchr wrote:http://www.businessdailyafrica.com/USIU-sues-Moi-in-prime-Nairobi-land-row/539546-3328422-5xkj4mz/index.html
Me and my sons have over 600b stashed abroad(kroll report).what harm will it do me to only take 1b which is 0.15% of my stashed cash pay off this noise makers USIU-AND the other guy and I retire in peace without my named being dragged into mud? Wapi common sense hapa? Those guys cannot lose a dime, never ever!!! He would rather stay in court than pay. Watch this space! Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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The plot thickens......Kwani how many times has Moi sold that piece of land???? http://www.businessdaily...63936-3aiu74/index.html
Quote:Equity Bank chief executive James Mwangi has laid claim to the multi-million shilling prime Nairobi land at the centre of a vicious legal battle pitting the United States International University-Africa (USIU-A) against businessman George Kiongera and former President Daniel Arap Moi, adding a new twist to the saga.
Mr Mwangi says in suit papers filed in court that he bought the 20-acre piece of land from Mr Moi in February 2012 for Sh300 million after confirming that the former President legitimately owned it.
The Equity Group CEO filed the suit last Friday against USIU-A, Mr Moi, Mr Kiongera’s Maestro Connections Health Systems Limited, the Chief Lands Registrar, the Director of Survey and Attorney-General Githu Muigai.
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Rank: Elder Joined: 7/22/2008 Posts: 2,718
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hardwood wrote:The plot thickens......Kwani how many times has Moi sold that piece of land???? http://www.businessdaily...63936-3aiu74/index.html
Quote:Equity Bank chief executive James Mwangi has laid claim to the multi-million shilling prime Nairobi land at the centre of a vicious legal battle pitting the United States International University-Africa (USIU-A) against businessman George Kiongera and former President Daniel Arap Moi, adding a new twist to the saga.
Mr Mwangi says in suit papers filed in court that he bought the 20-acre piece of land from Mr Moi in February 2012 for Sh300 million after confirming that the former President legitimately owned it.
The Equity Group CEO filed the suit last Friday against USIU-A, Mr Moi, Mr Kiongera’s Maestro Connections Health Systems Limited, the Chief Lands Registrar, the Director of Survey and Attorney-General Githu Muigai. The greek say "Yumbukaga na karia imeretie" (A bird only flies away with what it has swallowed.) Mwangi has started seeing that the billions he has been raking in from high interest rates is about to come to an end and so he has started to remember where he had put some of his money that he had forgotten. 300 million was small change compared to what he gets at equity but now he just might need it.
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Rank: Veteran Joined: 6/23/2014 Posts: 1,652
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Kusadikika wrote:hardwood wrote:The plot thickens......Kwani how many times has Moi sold that piece of land???? http://www.businessdaily...63936-3aiu74/index.html
Quote:Equity Bank chief executive James Mwangi has laid claim to the multi-million shilling prime Nairobi land at the centre of a vicious legal battle pitting the United States International University-Africa (USIU-A) against businessman George Kiongera and former President Daniel Arap Moi, adding a new twist to the saga.
Mr Mwangi says in suit papers filed in court that he bought the 20-acre piece of land from Mr Moi in February 2012 for Sh300 million after confirming that the former President legitimately owned it.
The Equity Group CEO filed the suit last Friday against USIU-A, Mr Moi, Mr Kiongera’s Maestro Connections Health Systems Limited, the Chief Lands Registrar, the Director of Survey and Attorney-General Githu Muigai. The greek say "Yumbukaga na karia imeretie" (A bird only flies away with what it has swallowed.) Mwangi has started seeing that the billions he has been raking in from high interest rates is about to come to an end and so he has started to remember where he had put some of his money that he had forgotten. 300 million was small change compared to what he gets at equity but now he just might need it. The rich people do not forget whether they have out their money that is why they are rich.Muthuri niacokerio indo ciake. Hutia Mundu!!
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Rank: Elder Joined: 10/1/2009 Posts: 2,436
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Wah, Kenyans have money, so if there had been no dispute at all we would never have known there's an unknown Kenyan dude with KShs 500m somewhere - and the way I thought i knew all Kenyan sonkos...
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Rank: Veteran Joined: 6/23/2014 Posts: 1,652
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Intelligentsia wrote:Wah, Kenyans have money, so if there had been no dispute at all we would never have known there's an unknown Kenyan dude with KShs 500m somewhere - and the way I thought i knew all Kenyan sonkos... Notes are quiet while coins make noise. Hutia Mundu!!
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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Intelligentsia wrote:Wah, Kenyans have money, so if there had been no dispute at all we would never have known there's an unknown Kenyan dude with KShs 500m somewhere - and the way I thought i knew all Kenyan sonkos... Mike sonko is not a sonko If Obiero did it, Who Am I?
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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"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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Rank: Elder Joined: 11/5/2010 Posts: 2,459
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Enyewe we are beyond help if swazuri commision is also eating.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Nation wrote:Former president Daniel arap Moi has obtained a court order barring three parties that are laying claim to a prime plot in Nairobi from starting any construction at the site till the dispute is resolved.
Mr Moi, through lawyer Fred Ngatia, says he cannot understand “the basis of the claims” lodged by United States International University (USIU), Maestro Health Connections and Equity Bank CEO James Mwangi through his company Muthaiga Luxury Homes Limited.
The retired president has been named as a defendant in the suit. On Wednesday, Mr Moi’s lawyer told the trial court to “widen the injunction order to stop the plaintiffs from taking advantage of each other so that nothing happens on the ground until the case is heard and determined.”
Justice Samson Okong’o gave the order preserving the suit property in which USIU, Maestro Connections Health Systems and Mr Mwangi have different titles for the same piece of land.
“Justice can only be arrived at through a full trial, we need to go straight into the trial at the earliest date possible,” Mr Ngatia said.
The lawyer said it is prudent that the court halts “any activities on the disputed parcel of land until a determination is made.” Maestro Heath Connections claimed it bought the property from Mr Moi for Sh500 million and had stationed tens of guards at the site before USIU contested and got an order for restoration of the status quo. http://www.nation.co.ke/...06908-ejrps7z/index.html"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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