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Peter Muraya’s Ksh384 Million Property To Be Auctioned Over Defaulted Loans

Peter Muraya. [PHOTO/ COURTESY]

Business mogul Peter Muraya and his wife Sue Muraya are set to lose property worth Ksh384 million in Lavington following a defaulted loan amounting to billions.

The property which entails luxury residential houses sits on a 0.809-acre parcel of land.

The auctioneer, Garam Auctioneers, in an auction notice Ksh48 million for each of the Suraya houses.

“Under instructions from the chargee’s advocates, we shall sell by public auction the properties together with buildings and improvements erected therein. Each town house has five bedrooms, all en suite. The title is freehold interest,” announced the auctioneer.

Read: Magoha Apologizes For Lifting Ban On Marie Stopes

In March last year, the Murayas were involved in a liquidation cases involved two companies associated with them, Sucasa and Encasa West Limited.

The case filed by Eternal Foundation Construction wanted the two companies liquidated.

The number of real estate properties on auction has been on the rise following the shrinking uptake of housing property in Nairobi. Among the properties auctioned last year included a Ksh1.19 billion residential estate in Kitisuru owned by Homex Developers.

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Francis Muli

Written by Francis Muli

Senior reporter at Kahawa Tungu, Muli has a passion for human interest stories. He believes in unearthing societal rots that have been hidden from the public eye. He has also carved himself a niche in writing business stories. He has worked for various organisations including Kenya Television Service, Business Today among others. Follow him on Twitter @FmuliKE.
Email: mulifranc2@gmail.com

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