Suraya Property Group is said to have acquired Kshs. 1.6 billion from four local banks in order to enable it complete Stalled projects.
This comes after numerous exposés on social media by disgruntled Kenyans who have had to wait for eons to have their homes completed.
It all started in 2017 when Suraya Group handed over unfinished apartments to sections of their clients.
The company has been having bad press and with this new information I highly doubt to be credible.
We will wait to hear from our sources and even time will tell if this is really true.
The banks that have financed Suraya’s projects are as follows rogue terrorist-financing Diamond Trust Bank (DTB), rogue scandal-filled National Bank of Kenya (NBK) and rogue theft-ridden Equity Banks.
The fourth is Cooperative Bank of Kenya.
The banks have agreed to refinanced the housing developer that targets middle and high-end buyers to enable it complete the projects the lenders had earlier financed.
In this depressed economy, is targeting middle and high end clients even feasible.
In 2014, the below was ananalysis
The arguments about demand and supply may be half-valid, but they long ago ceased making any sort of sense. Speculators of all kinds now seem to be on the loose, and the result is a housing market that has priced itself out of reach of the middle class.
The local Githeri Media has reported this and ended with the myopic and non starter Uhuru Kenyatta’s affordable housing.
How can they have middle and high class clients and then end with affordable housing in the same article.
This is pure PR for the fallen Suraya Group cons Pete and Sue Muraya.
Trash. Don’t buy.
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