Sycamore Pine Limited, a company directed by KEMSA Chairman Irungu Nyakera has been forced to pay back money to a client after a property deal went south.
Susan Wanjiku in 2020 invested Sh1.35 million in Samara estate which was a housing project being undertaken by this company.
The company was building apartment for sale in Kiambu. Two-bedroom apartments were being offered at Sh2.95 million and three-bedroom ones for Sh3.95 million.
Wanjiku who hoped to start residing in her two-bedroom apartment in 2023 was shocked when the Sh7 billion deal flopped.
Some resident filed a case at the Environment and Land Court in Thika.
The project was stopped and this marked the beginning of a cat-and-mouse game with the real estate company management.
The Nairobian newspaper defender desk mounted pressure on Nyakera who also served as Principal Secretary Transport and Infrastructure and also Devolution dockets during President Uhuru Kenyatta regime.
Cornered, Nyakera has paid back the client’s money as other investors demand refund.
