This archive report was first published on 21 August 2020.
On August 21, 2020, a High Court ruling dealt a devastating blow to fourteen buyers of Suraya's estates, who are now set to lose millions. The buyers had acquired the houses through an off-plan arrangement with Peter and Sue Muraya, but failed to produce a sales agreement to prove their ownership.
As a result, the auction of Suraya Group's land at Fourways Junction on Kiambu Road by Transnational Bank will proceed. The land is registered to Classix, an affiliate of Suraya Group owned by Peter and Susan Muraya.
The buyers had accused Peter and Sue Muraya of defrauding them, claiming that they had conned them into buying the property knowing that they could not or had no intention to execute the project. However, Justice David Majanja noted that the buyers did not present a sales agreement, which is a crucial document in establishing a contractual relationship.
Suraya owes the Transnational Bank Sh. 111.3 million, and the court ruling has paved the way for the auction of the property. Strikingly, Suraya's website still lists the property under dispute as being on sale, with prices starting from Sh. 6,490,000.
