5 Firms Fight Over 2billion Ruaraka Land

5 Firms Fight Over 2billion Ruaraka Land

Four firms’ planned sale of a prime parcel in Ruaraka,
Nairobi County, has been halted pending the determination of its true

This comes after the court stopped all transactions on
the 28-acre plot of land worth Sh2 billion. The parcel is located on Baba Dogo
Road in the Ruaraka industrial area, near to the Moi International Sports

“The prevailing status quo to be
maintained,” Justice Oscar Angote said. “There should be no sale,
alienation, charge, or subdivision of the land until February 21, 2023.”

The land was advertised for sale in a project named
Stadium view estate by four companies: Airwaves Properties Limited, Carlsberg
International Limited, DKO Investments Limited, and Dawn Innovations Limited.

real estate developer Bancroft Properties moved to court seeking to block the
sale after accusing the four firms of attempting to grab the parcel.

The Bancroft stated that it paid Sh23 million for the
parcel of land registered no 13560/3 from its original owner, Central Glass
Industries, in 2003.

The petitioner claims to have learned of suspicious
activities on the property amounting to trespass, such as unknown people
guarding and digging roads on the property.

Individuals claiming to be working on behalf of the
four firms are also claiming suit property.

The firms also held an open day in June, inviting
members of the public to assess the upcoming estate project.

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Bancroft Properties claims that the ownership
documents in the firms’ possession are invalid because they were obtained
fraudulently, as the firm is unaware of any sale or transfer of land ownership
to the four companies.

The original title, according to Bancroft, has been in
the custody of the Diamond Trust Bank, which is the charge of the property, and
has never been surrendered to the registrar of lands.

date, an investigation of the suit property’s title to the root will reveal
that the plaintiff is the registered owner and the title in his possession
reflects the accurate register compiled and kept up-to-date by the state,”
read part of the court documents.

Bancroft has filed a lawsuit against the four
companies as well as the Chief Land Registrar (Nairobi Central land titles

The developer is now asking the court to declare them
the legal owners of the suit and to quash the four companies’ titles.

It also wants permanent injunctions against the four
companies, barring them from selling, trespassing on, or interfering with the
said land in any way.

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