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Suraya selling 2brm apartments @2.85m on Mombasa rd
VituVingiSana
#21 Posted : Monday, June 10, 2019 3:33:33 AM
Rank: Chief


Joined: 1/3/2007
Posts: 15,903
Location: Nairobi
Jamani wrote:
guru267 wrote:
Did anyone know that suraya's projects are 100% financed by KCB??

ROAR! smile


and they have plans to start projects in all the 47 counties.... ROAR!!!

Laughing out loudly Laughing out loudly Laughing out loudly 7 years later. MEOW! Sad{|=
Kenyans lose millions as Suraya housing project collapses
https://citizentv.co.ke/news/kenyans-lose-millions-as-suraya-housing-project-collapses-249308/
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
obiero
#22 Posted : Monday, June 10, 2019 5:41:24 AM
Rank: Elder


Joined: 6/23/2009
Posts: 11,671
Location: nairobi
VituVingiSana wrote:
Jamani wrote:
guru267 wrote:
Did anyone know that suraya's projects are 100% financed by KCB??

ROAR! smile


and they have plans to start projects in all the 47 counties.... ROAR!!!

Laughing out loudly Laughing out loudly Laughing out loudly 7 years later. MEOW! Sad{|=
Kenyans lose millions as Suraya housing project collapses
https://citizentv.co.ke/news/kenyans-lose-millions-as-suraya-housing-project-collapses-249308/

Rate cap unraveling.. Meanwhile simba has nothing to do with the ailing entity
COOP 5,500; KCB 3,700; KQ 221,100
Ericsson
#23 Posted : Monday, June 10, 2019 11:12:50 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,714
Location: NAIROBI
Suraya Property Group has secured Sh1.6 billion financing from four banks to complete mega housing projects, whose construction had fallen behind schedule due to the biting liquidity crisis that has hit the property sector as a result of interest rate capping.

The cash injection hands the company the much-needed lifeline to complete the projects.

Diamond Trust Bank (DTB) ,
Cooperative Bank ,
National Bank of Kenya (NBK)
Equity Bank
have refinanced the housing developer that targets middle and high-end buyers to enable it complete the projects the lenders had earlier financed.

The funding, Mr Muraya said, has been secured for its Lavington project dubbed Terraces at a total cost of Sh700 million from Diamond Trust Bank (DTB Bank). The proposed development has a total of 133 units consisting of four, three and two-bedroom apartments arranged around a court.

Its Ngong Road-based Lynx project comprising one and two-bedroom apartments has secured Sh600 million from the National Bank of Kenya, Mr Muraya said.

The developer’s phase two development dubbed Encasa along Mombasa Road behind Mlolongo has secured Sh130 million from Co-operative Bank of Kenya.
The project occupies a total of 12.5 acres and is proposed to have a total of 625 apartments.

He said its Lynx West project based in Nairobi West and comprising two bedroom en suite apartments has secured Sh40 million from DTB while its Fourways project along Kiambu Road has secured Sh130 million from Equity Bank.
wukan
#24 Posted : Monday, June 10, 2019 11:38:18 AM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,109
obiero wrote:
VituVingiSana wrote:
Jamani wrote:
guru267 wrote:
Did anyone know that suraya's projects are 100% financed by KCB??

ROAR! smile


and they have plans to start projects in all the 47 counties.... ROAR!!!

Laughing out loudly Laughing out loudly Laughing out loudly 7 years later. MEOW! Sad{|=
Kenyans lose millions as Suraya housing project collapses
https://citizentv.co.ke/news/kenyans-lose-millions-as-suraya-housing-project-collapses-249308/

Rate cap unraveling.. Meanwhile simba has nothing to do with the ailing entity


No matter how much we tried to warn about rate cap people didn't listen. Those with capital and liquidity will harvest richly. The chinese meanwhile are taking over the entire supply chain from Guangzhou to Gikomba locals don't have the capital or credit to compete. It is a good thing let kenyans learn the hard way they will eventually get out of the Stockholm "mtu wetu" syndrome


Quote:
Small-scale traders in Gikomba, Nyamakima and Kamukunji markets in Nairobi have new competitors -- the Chinese.

Tens of Chinese traders have opened shops in the crowded, informal markets that have for decades served as the entry points for second-hand clothes and cheap Chinese imports.

Backed by strong financial muscle, the traders who have taken strategic control of the supply chain from import to wholesale and down to the retail level, are giving local traders a run for their money.
https://www.businessdailyafrica.com/news/The-Chinese-in-Gikomba/539546-5151338-wj86it/index.html

VituVingiSana
#25 Posted : Monday, June 10, 2019 8:43:57 PM
Rank: Chief


Joined: 1/3/2007
Posts: 15,903
Location: Nairobi
wukan wrote:
obiero wrote:
VituVingiSana wrote:
Jamani wrote:
guru267 wrote:
Did anyone know that suraya's projects are 100% financed by KCB??

ROAR! smile


and they have plans to start projects in all the 47 counties.... ROAR!!!

Laughing out loudly Laughing out loudly Laughing out loudly 7 years later. MEOW! Sad{|=
Kenyans lose millions as Suraya housing project collapses
https://citizentv.co.ke/news/kenyans-lose-millions-as-suraya-housing-project-collapses-249308/

Rate cap unraveling.. Meanwhile simba has nothing to do with the ailing entity


No matter how much we tried to warn about rate cap people didn't listen. Those with capital and liquidity will harvest richly. The chinese meanwhile are taking over the entire supply chain from Guangzhou to Gikomba locals don't have the capital or credit to compete. It is a good thing let kenyans learn the hard way they will eventually get out of the Stockholm "mtu wetu" syndrome Not in 2022 esp in RV. Not that Central isn't prone to Mtu Wetu.


Quote:
Small-scale traders in Gikomba, Nyamakima and Kamukunji markets in Nairobi have new competitors -- the Chinese.

Tens of Chinese traders have opened shops in the crowded, informal markets that have for decades served as the entry points for second-hand clothes and cheap Chinese imports.

Backed by strong financial muscle, the traders who have taken strategic control of the supply chain from import to wholesale and down to the retail level, are giving local traders a run for their money.
https://www.businessdailyafrica.com/news/The-Chinese-in-Gikomba/539546-5151338-wj86it/index.html


Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sparkly
#26 Posted : Monday, June 10, 2019 9:36:46 PM
Rank: Elder


Joined: 9/23/2009
Posts: 6,932
Location: Enk are Nyirobi
Ericsson wrote:
Suraya Property Group has secured Sh1.6 billion financing from four banks to complete mega housing projects, whose construction had fallen behind schedule due to the biting liquidity crisis that has hit the property sector as a result of interest rate capping.

The cash injection hands the company the much-needed lifeline to complete the projects.

Diamond Trust Bank (DTB) ,
Cooperative Bank ,
National Bank of Kenya (NBK)
Equity Bank
have refinanced the housing developer that targets middle and high-end buyers to enable it complete the projects the lenders had earlier financed.

The funding, Mr Muraya said, has been secured for its Lavington project dubbed Terraces at a total cost of Sh700 million from Diamond Trust Bank (DTB Bank). The proposed development has a total of 133 units consisting of four, three and two-bedroom apartments arranged around a court.

Its Ngong Road-based Lynx project comprising one and two-bedroom apartments has secured Sh600 million from the National Bank of Kenya, Mr Muraya said.

The developer’s phase two development dubbed Encasa along Mombasa Road behind Mlolongo has secured Sh130 million from Co-operative Bank of Kenya.
The project occupies a total of 12.5 acres and is proposed to have a total of 625 apartments.

He said its Lynx West project based in Nairobi West and comprising two bedroom en suite apartments has secured Sh40 million from DTB while its Fourways project along Kiambu Road has secured Sh130 million from Equity Bank.


Nonsense, I bought a unit @Mlolongo 7 years ago. Not yet completed (about 85%) done. Opportunity cost on my money is very high.
Life is short. Live passionately.
hardwood
#27 Posted : Tuesday, June 11, 2019 9:48:51 AM
Rank: Elder


Joined: 7/28/2015
Posts: 8,782
Things getting thicker....

https://citizentv.co.ke/news/new-twist-as-gatabaki-denies-deal-with-suraya-for-four-ways-junction-estate-257521/

Quote:
The family of a former politician Njehu Gatabaki has denied ever getting into an agreement with Suraya real estate for the development of Four Ways Junction.

The Gatabakis who claim to be the legit owners of the property said Peter and Sue Muraya have over the years used their property to swindle Kenyans using an agreement that never materialised.

According to Ms. Gathoni Gatabaki, the Four Ways Junction property, which investors have paid millions of shillings for was a hoax.

She said the family engaged a private investigator who established that Peter and Sue Muraya fraudulently acquired documentation to swindle Kenyans into believing they own the 105-acre-property.
Ecclesiastes 9:7 So go ahead. Eat your food with joy, and drink your wine with a happy heart, for God approves of this.
Angelica _ann
#28 Posted : Tuesday, June 11, 2019 9:54:23 AM
Rank: Elder


Joined: 12/7/2012
Posts: 10,429
hardwood wrote:
Things getting thicker....

https://citizentv.co.ke/news/new-twist-as-gatabaki-denies-deal-with-suraya-for-four-ways-junction-estate-257521/

Quote:
The family of a former politician Njehu Gatabaki has denied ever getting into an agreement with Suraya real estate for the development of Four Ways Junction.

The Gatabakis who claim to be the legit owners of the property said Peter and Sue Muraya have over the years used their property to swindle Kenyans using an agreement that never materialised.

According to Ms. Gathoni Gatabaki, the Four Ways Junction property, which investors have paid millions of shillings for was a hoax.

She said the family engaged a private investigator who established that Peter and Sue Muraya fraudulently acquired documentation to swindle Kenyans into believing they own the 105-acre-property.


Lakini in all fairness, where were the Gatabakis all these years since there are actual structural development on their 'land'. This is ukora juu ya ukora.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
hardwood
#29 Posted : Tuesday, June 11, 2019 10:18:11 AM
Rank: Elder


Joined: 7/28/2015
Posts: 8,782
Angelica _ann wrote:
hardwood wrote:
Things getting thicker....

https://citizentv.co.ke/news/new-twist-as-gatabaki-denies-deal-with-suraya-for-four-ways-junction-estate-257521/

Quote:
The family of a former politician Njehu Gatabaki has denied ever getting into an agreement with Suraya real estate for the development of Four Ways Junction.

The Gatabakis who claim to be the legit owners of the property said Peter and Sue Muraya have over the years used their property to swindle Kenyans using an agreement that never materialised.

According to Ms. Gathoni Gatabaki, the Four Ways Junction property, which investors have paid millions of shillings for was a hoax.

She said the family engaged a private investigator who established that Peter and Sue Muraya fraudulently acquired documentation to swindle Kenyans into believing they own the 105-acre-property.


Lakini in all fairness, where were the Gatabakis all these years since there are actual structural development on their 'land'. This is ukora juu ya ukora.


The shudren are just being greedy. The elder gatabaki was compensated in the joint venture and given cash and some houses on the development.
Ecclesiastes 9:7 So go ahead. Eat your food with joy, and drink your wine with a happy heart, for God approves of this.
hardwood
#30 Posted : Tuesday, June 11, 2019 10:26:26 AM
Rank: Elder


Joined: 7/28/2015
Posts: 8,782
Ni tumbo lisiloshiba....

https://www.businessdailyafrica.com/news/Gatabaki-family-in-Sh1bn-bypass-land-payout-claim/539546-4598120-lco49gz/index.html

Quote:
A prominent Kiambu couple that pocketed Sh725 million in compensation from a real estate developer in 2011 are back in court seeking Sh1.6 billion from the government for their land acquired during construction of the Northern Bypass.

The new compensation suit, if successful, could see Nancy Wanja Gatabaki and her husband, Samuel Gatabaki, pocket more than Sh2.3 billion from just a portion of their land whose value skyrocketed with the construction of the road bypass by former President Mwai Kibaki’s government.
Ecclesiastes 9:7 So go ahead. Eat your food with joy, and drink your wine with a happy heart, for God approves of this.
Angelica _ann
#31 Posted : Tuesday, June 11, 2019 10:43:50 AM
Rank: Elder


Joined: 12/7/2012
Posts: 10,429
hardwood wrote:
Ni tumbo lisiloshiba....

https://www.businessdailyafrica.com/news/Gatabaki-family-in-Sh1bn-bypass-land-payout-claim/539546-4598120-lco49gz/index.html

Quote:
A prominent Kiambu couple that pocketed Sh725 million in compensation from a real estate developer in 2011 are back in court seeking Sh1.6 billion from the government for their land acquired during construction of the Northern Bypass.

The new compensation suit, if successful, could see Nancy Wanja Gatabaki and her husband, Samuel Gatabaki, pocket more than Sh2.3 billion from just a portion of their land whose value skyrocketed with the construction of the road bypass by former President Mwai Kibaki’s government.


Ok the Children have realized that the price of the property has increased x fold over the years.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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