{"id":13008,"date":"2020-08-18T18:33:26","date_gmt":"2020-08-18T18:33:26","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=13008"},"modified":"2020-08-18T18:33:26","modified_gmt":"2020-08-18T18:33:26","slug":"suraya-property-buyers-lose-out-as-court-okays-sale","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/suraya-property-buyers-lose-out-as-court-okays-sale","title":{"rendered":"Suraya property buyers lose out as court okays sale"},"content":{"rendered":"<p><strong>Author: Dominic Omondi\u00a0<\/strong><br \/>\n<strong>AfricaPress-Kenya:<\/strong> Fourteen buyers of one of Suraya\u2019s distressed estates have lost their bid to stop the auctioning of the property after they failed to produce a sales agreement as evidence that they paid for the units. This means that the auction of Suraya Group\u2019s land at Fourways Junction on Kiambu Road by Transnational Bank will proceed.<\/p>\n<p>The land is registered to Classix, an affiliate of Suraya Group owned by the once flamboyant couple Peter and Susan Muraya.\u00a0The plaintiffs had asked the High Court to temporarily stop the auction of the property, noting that they had an interest in it, having paid for the units before they could be developed under the off-plan scheme.<\/p>\n<p>However, Justice David Majanja, noted that the buyers did not present a sales agreement to show that they had an interest in the property.\u00a0Transnational Bank, majority owned by a Nigerian lender, said Classix owes it Sh111.3 million which continues to accrue interest. According to the buyers, Peter and Susan Muraya, had put together a scheme with the intention of defrauding them.<\/p>\n<p>They have sued the couple, together with all their companies, arguing that the couple had hoodwinked them into buying the property knowing too well that they could not, or had no intention to execute the project.<\/p>\n<p>Besides asking the court to stop the auction of the property by Transnational Bank and having its management moved under their care, they also wanted Equity Bank sanctioned for being an accessory in the \u201cfraud\u201d by the Surayas.\u00a0They had argued that Equity knew about Suraya\u2019s scheme.<\/p>\n<ul class=\"list-group readmore my-3\">\n<li style=\"list-style-type: none\"><\/li>\n<\/ul>\n<p>However, the judge struck out Equity from the suit, noting that the lender was not an interested party to the property, having hived off the one it had interest in.<\/p>\n<p>Justice Majanja refused to grant them their request for failing to furnish the Court with the sale agreements between them and Suraya Sales, Suraya Group\u2019s sales agent, or any of the firms associated with the Surayas, to show that their interest on the property was more than that of Transnational Bank.<\/p>\n<p>\u201cIn the absence of these agreements, which form the basis of the contractual relationship, I cannot say the plaintiffs have established a prima facie case with a probability of success in relation to the registered interest of Transnational Bank,\u201d said Justice Majanja in a ruling on August 13.<\/p>\n<p>Besides the Murayas and their four companies, the buyers had also sued Equity Bank and Transnational Bank, even as they continued with a separate case in which they are looking to recover their money from the Murayas.<\/p>\n<p><strong>Irate investors<\/strong><\/p>\n<p>The court said that the deal was between Transnational Bank and Classix which had borrowed some money from the Nigerian-owned lender.\u00a0On its website, Suraya Group indicates the Classix property as still on sale, with prices starting from 6,490,000.<\/p>\n<p>The Classix Premium, the write-up on the website goes, is a new concept of home ownership, and targets premium first time home buyers.<\/p>\n<p>The Murayas are besieged, running away from irate investors while sparring with banks and contractors in courts. Their debts run into billions of shillings.\u00a0Most of Suraya\u2019s properties have fallen under the hammer. Of the 14 projects, only three have been completed and were snapped up by banks and auctioned.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Author: Dominic Omondi\u00a0 AfricaPress-Kenya: Fourteen buyers of one of Suraya\u2019s distressed estates have lost their bid to stop the auctioning of the property after they failed to produce a sales agreement as evidence that they paid for the units. This means that the auction of Suraya Group\u2019s land at Fourways Junction on Kiambu Road by [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":13005,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[1132,5266],"class_list":["post-13008","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-justice-david-majanja","tag-suraya-group"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Suraya property buyers lose out as court okays sale - kenya<\/title>\n<meta name=\"description\" content=\"Fourteen buyers of one of Suraya\u2019s distressed estates have lost their bid to stop the auctioning of the property after they failed to produce a sales\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/suraya-property-buyers-lose-out-as-court-okays-sale\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Suraya property buyers lose out as court okays sale\" \/>\n<meta property=\"og:description\" content=\"Fourteen buyers of one of Suraya\u2019s distressed estates have lost their bid to stop the auctioning of the property after they failed to produce a sales\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/suraya-property-buyers-lose-out-as-court-okays-sale\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-18T18:33:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/08\/suraya_property_buye5f3ab905d1178.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/suraya-property-buyers-lose-out-as-court-okays-sale#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/suraya-property-buyers-lose-out-as-court-okays-sale\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Suraya property buyers lose out as court okays sale\",\"datePublished\":\"2020-08-18T18:33:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/suraya-property-buyers-lose-out-as-court-okays-sale\"},\"wordCount\":553,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/suraya-property-buyers-lose-out-as-court-okays-sale#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/08\/suraya_property_buye5f3ab905d1178.jpg\",\"keywords\":[\"Justice David Majanja\",\"Suraya Group\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/suraya-property-buyers-lose-out-as-court-okays-sale#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/suraya-property-buyers-lose-out-as-court-okays-sale\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/suraya-property-buyers-lose-out-as-court-okays-sale\",\"name\":\"Suraya property buyers lose out as court okays sale - 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