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More trouble for Suraya as prime property up for auction

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As the investors claiming to have been conned by Suraya Property Group continue to record statements with the Directorate of Criminal Investigations in the coming days, a local bank yesterday announced the sale of one of the group’s prime projects located along Kabarnet Drive off Ngong Road.

The property, Lynx Royal apartments comprised of 52 bedsitters, 20 studios, 47 one bedroomed units. 37 two bedroomed units and 45 two bedroomed units is one of the projects that the investors had paid for starting 2013 hoping to move in by 2015.

Today however, what stands in place of the envisioned apartment are old weathered and incomplete apartment blocks whose construction obviously did not stall yesterday.

The apartment is being sold through a public auction advertised by Keysian auctioneers and published in yesterday’s Daily Nation.

“Under instructions of our principals, the chargees, in exercise of their statutory power of sale, we shall sell by public auction the under mentioned properties and all improvements erected thereon,” stated the advert that listed the apartment’s sale date as July 3 starting 11am.

Lynx @ Royal Estate along Ngong road that is one of the stalled projects by Suraya Property Group in a Picture taken on June 10,2019.EVANS HABIL

State of panic

READ ALSO:   Kenyans lose millions as Suraya housing project collapses

The property is among a list of projects that Suraya real estate firm has been accused of not completing within the stipulated sale agreement timelines leading to a state of panic among its numerous investors a number of whom have cleared up to 80 per cent of their payments.

Others are Fourways Junction phase II, Lynx apartments along Muchai drive, Loneview apartments along Mombasa road among others.

The announcement of the sale of Lynx Royal apartments contradicts an earlier statement by Suraya chief executive officer Peter Muraya who on Sunday announced that the firm had acquired a Sh1.6 billion loan from two banks to complete its mega housing projects whose construction had derailed.

One of the investors Ms Wairimu Thumbi is a victim of the apartment under auction that she says was sold out and another dubbed Encasa along Mombasa road. She said she paid 80 per cent of the purchase price but is yet to get her units delivered to her.

“On both units I have done all the payments except the last payment that you only do when you are handed over the units. I want the Directorate of Criminal Investigations (DCI) to investigate the situation because you cannot tell me that so much billions of shillings have been taken from investors but there is no project that has been completed,” she said.

READ ALSO:   Kenyans lose millions as Suraya housing project collapses

Ms Wairimu said she has faith the DCI will look into their troubles and act so that the firm can revert what they owe their clients or wind up the projects within an agreed time-frame.

Close to 100 investors had by yesterday recorded their statements with the DCI.

A Section of investors who claim to have lost Millions of Shillings in Suraya Property Group projects assemble outside DCI offices along Kiambu Road on June 10,2019 where they had gone to record statements.EVANS HABIL

Some, after waiting since 2013 for their units said they no longer want the houses they paid for but a total sum of the deposits they made topped up with the accrued monthly interest which they want tabulated as the ones prescribed for defaulters.

Ms Susan Kariuki, another victim of the apartment under auction told the Nation that her chama group, Jiendeshe Women Group bought three units in 2013 with the aim of renting them out to the group’s members in 2015.

However, to date, the group is yet to harvest the fruits of their investment.

In her statement, Ms Kariuki told the DCI that the decision to buy the apartments through off-plan method was arrived at in one of their group meetings in 2011 where a member suggested they try investing with Suraya.

READ ALSO:   Kenyans lose millions as Suraya housing project collapses

“The total for the three units was Sh8.2million which we started paying in 2013 in instalments. To date we have paid a total of Sh6.3 million but the apartment that was to be completed by 2015 is still incomplete,” she said.

Mr Shadrack Munyoki begun paying his first instalment of Sh2.1m for a two bedroomed unit of the Lynx apartments at Muchai drive in July 2016 which to date is still at the foundation level.

Lynx @ Royal Estate along Ngong road that is one of the stalled projects by Suraya Property Group in a Picture taken on June 10,2019.EVANS HABIL

He told Nation he was making the Sh7 million purchase on behalf of his son who lives abroad but that the group has subjected him to an endless circus.

“There is nothing set up at the site so far. I am fed up with those guys, I need my Sh2.1 million refunded with interest,” Mr Munyoki said.

Ms Josephine Murugi first met Mr Muraya through her late husband Francis Mbuthia Mukuna. It is out of the friendship and trust that had developed over time that the couple found themselves investing at Fourways Junction where they live.

“When my husband passed on in February 2013, I decided to invest all the savings I had and so when I learnt that they (Suraya) were investing along Ngong road, I thought why should I not invest with them? I did not have any reason not to believe in them,” recalled Murugi adding that in total her investments accrued to Sh 5.5 million.

Along the way, she also looped in her investment group which also invested Sh3 million in a one bed room unit.

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DPP Haji now targets Keroche power couple with Sh14 billion tax evasion suit

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DPP Noordin Haji has ordered for the arrest and arraignment of Keroche Breweries directors Tabitha Karanja and Joseph Karanja for allegedly evading taxes amounting Sh14.45 billion since 2015.

In a statement to newsrooms, the DPP said investigations revealed that the directors could be culpable of 10 counts of tax fraud between January 2015 to June 2019.

The DPP said the KRA commissioner general submitted an inquiry file to his office on August 18 and an audit by KRA established that Keroche Breweries had evaded payment of tax tallying to Sh14,451,836,375.

The amount evaded, according to the DPP, included stamps valued at Sh329,424,019, Crescent Vodka brand valued at Sh135,402,950 among other products registered under the company.

The exercise duty evaded on the said products, according to KRA, amounted to Sh2,101,846,768 billion.

IN PUBLIC INTEREST

The DPP says that he is satisfied that there is sufficient evidence and that it is in the public interest to charge the suspects with 10 counts of tax fraud contrary to the Tax Procedures Act of 2015.

For more than a decade, Keroche has been battling with Kenya Revenue Authority over tax arrears the brewer owes the taxman.

In 2017, a three-judge Court of Appeal bench ruled that KRA had abused its powers by sending a tax demand of the three tax heads and penalties amounting to Sh1.1 billion through a letter dated November 29, 2006.

READ ALSO:   Kenyans lose millions as Suraya housing project collapses

The ruling was the third in the 10-year battle in favour of the brewer, which gave them a fresh lease of life to the 20-year-old Keroche.

The letter was dismissed as unreasonable because it had come without an accompanying schedule of details of the said assessment and without proper notices.

The revenue authority had appealed an earlier decision by the High Court on July 6, 2007, where Justice Joseph Nyamu had prohibited the taxman from demanding the taxes, citing “abuse of powers”.

The taxman, who was also demanding an additional Value Added Tax of Sh305 million, was basing the tax bill on an assessment carried out in 2006, where some Keroche products had allegedly not been given the right classification, hence being subject to lower taxation.

by nairobinews

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SPONSORED: “Mahiga Homes” wins 2 coveted Real Estate Awards [VIDEO]

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The Leading Real Estate Developer Mahiga homes Ltd won two major coveted awards in The Real Estate Excellence Awards, namely:

1. Best in off plan Residential Sales
2. Best low cost low rise Residential Developer.
This comes in the wake of being recognized internationally by being awarded The Leading Real Estate Brand 2019 by UK based ranking company Global Brand Awards.
This makes Mahiga homes Ltd the best company with the most Awards totaling to 7 since it started operations 2 years ago.

The previous awards are:
KPRA Awards
1. The Rockie of the Year 2018
2. Affordable Housing Initiative

 

Real Estate Excellence Awards 2018
1. Most Promising Residential Developer 2018
2. Best Low Cost Residential Developer 2018

www.mahigahomes.co.ke
+254720460413

READ ALSO:   Kenyans lose millions as Suraya housing project collapses
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SPONSORED: Optiven Foundation feted for transforming lives across Kenya

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Optiven Foundation has been feted for it’s role in transforming the society. This was at The Voice Awards held at the Louis Leakey auditorium in Parklands Nairobi on 16th August 2019. The event which was the first to be held in Kenya by it’s owners based in Netherlands, attracted a number of dignitaries and was officially addressed by the Deputy President Dr. William Ruto.

The award to Optiven Foundation was received by the Optiven Group General Manager, Mary Wacukah who is also a trustee of the Optiven Foundation. Speaking shortly after receiving the award Mrs. Wacukah “this award is a true reflection of what the foundation stands for which is to make a difference in the lives of the community.

” She commended all those who support the endeavors of the foundation which she noted has been a great input towards ensuring that the community we live in is a better place saying, “The Optiven Foundation is supported by Optiven Limited and well wishers who come together to ensure that our brothers and sisters live in dignity and their lives are transformed.

Truly when giving you do not just do it for the other person, but it also teaches us to be grateful for what we have.” While appreciated the trustees and philanthropists, she added that the foundation is wholly supported by Optiven Limited where 5% of all profits from real estate are used to cater for the myriad needs of the Optiven Foundation.

READ ALSO:   Kenyans lose millions as Suraya housing project collapses

voicesawards

Mrs. Wacuka was accompanied at the event by the Chairman of Optiven Foundation, Mr. George Wachiuri, Ms. Jerusha Abasalom – the Diaspora Manager, top associates of Optiven Limited and who are also philanthropists in their own right Mr. James Mugo and Mr. John Owiro and Ms. Joyce Njambi, the team leader for the Optiven Foundation among others.

Ambassador Pastor Elvis Iruh, the founder of The Voice Magazine in the Netherlands and who partners with Moving Minds Africa to bring the award to Kenya congratulated the team from Optiven Foundation saying their impact in society cannot be underestimated. Ambassador Iruh further noted that the team from Optiven had been receipient of another award which was bestowed to the Chairman Mr. George Wachiuri in 2019 at the Le Koning Hotel at the Hague in the Netherlands in 2018.

He added that both Mr. Wachiuri and the Optiven Foundation had been leaving print marks in the lives of people across the world with the work they are doing in transforming lives through philanthropy. He singled out the efforts to renovate and rehabilitate children living at the Soweto Children’s Home in Kayole where the Optiven Foundation has built classrooms and dormitories as well as provided the daily needs for the children who are fully dependent on the foundation.

READ ALSO:   Kenyans lose millions as Suraya housing project collapses

voice awards2

ABOVE: Partners visiting with the Optiven Foundation ahead of The Voice Awards ceremony at the Louis Leakey Auditorium on 16/8/2019

The Optiven Foundation works with the less fortunate in society in order to make their lives better.  Since it’s inception, the foundation has worked in the areas of environment, health and education among others. With key partnerships with different counties, the foundation has been involved with various cleanups including in Kajiado County and Nairobi County.

In adherence to the UN Millenium Development Goals, the Optiven Foundation has adapted environmentally friendly models on all it’s projects including use of biodigesters to save on water, afforestation to increase forest cover as well as participating in community projects that ensure sustainability. With regard to education, the Foundation launched the Soaring Eagles Program with the key mandate to provide opportunities for education for students who have challenges in paying for their education but are keen on performance.

Over the years, Optiven Foundation has given scholarships to students across the country and in every country. On matters health, the Optiven Foundation has provided support to communities through hosting medical camps, monetary support to cover health matters, civic education on the importance of insurance especially covering medical matters as well as community facilitation to persons living with disability. Through it’s Mobility that Brings Smiles campaign, Optiven Foundation has been able to partner with different associates to provide those living with disability with wheelchairs.

READ ALSO:   Kenyans lose millions as Suraya housing project collapses

Through partnerships with individuals of good will, the foundation has since donated wheelchairs to deserving cases in Nairobi County, Nyeri County, Machakos County and Kiambu County. As the need for the said wheelchairs is immense the foundation is seeking partners to further spread the mobility that brings smiles through enabling persons living with disability to be able to be mobile.

To Support the Foundation Contact Us

Optiven Group Foundation
Head Office: 
Barclays Plaza, 14th Floor ,Wing A
Tel: +254 20 2484022, +254 718 776033
Email: info@optivenfoundation.org

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