The High Court has officially approved the auction of properties owned by Moses Kuria, who currently serves as a Senior Advisor on the Presidential Economic Council.
The ruling was delivered on Monday, April 7, by Justice Aleem Visram, who concluded that Kuria had failed to clear a loan he borrowed several years ago.
Reports indicate that the properties lined up for auction include apartment buildings located in Ruaka and Juja, both situated in Kiambu County.
The auction is being handled by Garam Investments Ltd and is scheduled to take place on Tuesday, April 8.
This court decision comes after an intense legal fight where Kuria tried to stop the auction, claiming that he had made attempts to settle the outstanding debt.
However, the auctioneers stated that Kuria had been issued with several notices concerning the unpaid loan before the matter was brought before the court.
In his ruling, Justice Visram pointed out that Kuria had not presented enough evidence to justify halting the auction process.
The judge emphasized that financial commitments must be fulfilled, and that failure to honor such obligations would lead to legal consequences.
The buildings owned by Kuria are part of a larger group of residential properties across the country that have recently been listed for public auction due to loan defaults.
Notices published in local newspapers on the same day revealed that various auctioneers have advertised residential properties worth billions of shillings.
In Nairobi, for instance, a six-storey apartment complex named Genesis Apartment, located in Embakasi South, has been put up for sale.
Another property, a luxury penthouse known as the Green House located at Adams Arcade, is also on the auction list.
In Kiambu County, a two-bedroom bungalow under freehold lease terms in the Muguga area has been advertised for sale.
Meanwhile, in the upscale Runda neighborhood, a spacious four-bedroom maisonette has also been listed for auction.
Moving to the coastal region, Mombasa is not left out. There, five five-storey residential buildings, located approximately 11.6 kilometers from the Mombasa Central Business District, are also set to be auctioned off.
This trend of property auctions reflects the growing number of property owners across Kenya who are struggling with loan repayments, leading to a surge in foreclosures and asset sales.
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