Raphael Tuju’s Sh450m Property Deal Halted as Buyer Defends Transaction

Raphael Tuju’s Sh450m Property Deal Halted. A dramatic turn of events has unfolded in a high-stakes property dispute involving former Cabinet Secretary Raphael Tuju. The High Court has temporarily halted the transfer of a Sh450m property in Karen, a business park in Nairobi, following a dispute between Mr. Tuju and the buyer, Ultra Eureka Limited. The court’s decision comes as a reprieve for Mr. Tuju, who is seeking to challenge the auction sale. The matter is now set to be heard on April 7, 2025. The situation remains tense as the two parties engage in a heated court battle over the disputed property.

Security Clampdown at Dari Business Park

A heavy security operation was witnessed at the Dari Business Park in Karen, Nairobi, as armed officers were deployed to maintain order. At least 20 security officers were seen patrolling the premises, ensuring that no unauthorized individuals access the area. The security operation is part of the measures taken to prevent any potential disruptions to the business operations at the park.

The security officers were seen inspecting the area, checking for any suspicious individuals or activities. They were also seen communicating with the tenants and staff members of the business park, ensuring that they are aware of the situation and the measures being taken to maintain order. The deployment of security officers is a precautionary measure to prevent any potential unrest or disruptions to the business operations at the park.

The security operation is ongoing, with the security officers remaining on site to ensure that the situation remains under control. The deployment of 20 security officers is a significant show of force, indicating the seriousness with which the authorities are taking the situation. The security operation is expected to continue until the situation is resolved, and the business operations at the park can resume as normal.

Buyer Defends Sh450m Deal Amid Halt in Transfer

The buyer of Raphael Tuju’s property, Ultra Eureka Limited, has defended the purchase, insisting it was acquired lawfully through a public auction conducted by the East African Development Bank (EADB) in October 2024. The company’s director, Jackson Kiplimo Chebett, said in a replying affidavit that the transaction followed a competitive public auction and that the buyer fully paid the agreed purchase price of Sh450 million.

Ultra Eureka Limited has also disclosed that after acquiring the land in February 2025, it charged the property’s title to Kenya Commercial Bank (KCB) the following month to secure a $2.5 million (Sh324 million) loan facility. The company claims to have legally bought the prime Nairobi property after the EADB exercised its statutory power of sale over land previously owned by companies associated with Mr Tuju. The buyer insists that the purchase was conducted lawfully and that the transaction was fully paid.

The company has provided supporting evidence for the transaction, including documentation of the public auction and the payment of the agreed purchase price. Ultra Eureka Limited has written to tenants informing them of the change in ownership and has taken over the property as the new landlord. The company’s statement on the deal is a key development in the ongoing dispute between Mr Tuju and the buyer, which is set to be heard in court on April 7, 2025.

Tuju’s Response to Security Halt and Property Deal

Former Cabinet Secretary Raphael Tuju has spoken out about the temporary halt on the transfer of his property, saying he is seeking to challenge the auction sale. In a statement, Mr. Tuju expressed his intention to fight the sale, which he claims was conducted unfairly. The court’s decision to freeze the transfer of the property has provided Mr. Tuju with a reprieve, allowing him to continue his efforts to prevent the sale.

Tuju’s Reaction to the Security Halt

Mr. Tuju has not commented directly on the security operation that led to the halt in the transfer process. However, his statement suggests that he is focused on challenging the auction sale and preventing the loss of his property. The court’s order has temporarily stayed changes to ownership, pending the determination of the application. The matter is scheduled for hearing on April 7, 2025.

Tuju’s Response to the Buyer’s Statement

Mr. Tuju has not publicly responded to the buyer’s statement defending the purchase of his property. However, his efforts to challenge the auction sale suggest that he disputes the legitimacy of the transaction. The buyer, Ultra Eureka Limited, has claimed that the purchase was conducted lawfully through a public auction and that the company fully paid the agreed purchase price.

Implications of Halted Property Transfer for Local Business

The temporary halt in the transfer of Raphael Tuju’s Karen property has sparked concerns about the potential impact on local businesses operating in the area. The Dari Business Park, located in the same vicinity, is home to several prominent companies. If the property transfer is eventually blocked, it could lead to a disruption in business operations, affecting not only the tenants but also the local economy.

The security operation that accompanied the transfer of the property has also raised eyebrows among business owners. Reports indicate that a significant number of armed security officers were involved in the operation. While the exact details of the security operation are still unclear, it has undoubtedly created a sense of unease among local business leaders. As the situation continues to unfold, it remains to be seen how the business community will react to the developments.

Local business leaders have expressed mixed reactions to the situation, with some calling for a more transparent explanation of the security operation. The involvement of armed security officers has sparked concerns about the potential for intimidation or disruption of business operations. As the matter continues to be debated in court, it is likely that the business community will continue to closely follow the developments and their potential impact on local businesses.

What’s Next for the Sh450m Property Deal?

The temporary halt on the transfer of Raphael Tuju’s Karen property has opened up several possible outcomes for the Sh450m deal. The High Court’s directive that the title remain untouched pending the determination of the application has given Mr. Tuju a reprieve as he seeks to challenge the auction sale. However, the buyer, Ultra Eureka Limited, has defended the purchase, insisting it was acquired lawfully through a public auction conducted by the East African Development Bank (EADB) in October 2024.

Potential Next Steps for the Buyer and Raphael Tuju

The matter is now scheduled for hearing on April 7, 2025. The court’s decision will likely have a significant impact on the property deal, with the buyer potentially facing a loss of the property if the sale is deemed invalid. Meanwhile, Mr. Tuju will continue to fight to prevent the transfer of the property, which he claims was sold to the buyer without his knowledge or consent. The outcome of the court hearing will determine the next steps for both parties, with the possibility of a prolonged legal battle ahead.

Relevant Timelines

The timeline of the property deal has been marked by several key events, including the public auction conducted by the EADB in October 2024 and the subsequent transfer of the property’s title to Kenya Commercial Bank (KCB) in March 2025. The buyer, Ultra Eureka Limited, has also disclosed that it charged the property’s title to KCB to secure a $2.5 million (Sh324 million) loan facility. The court’s decision will likely be influenced by these events, which have led to the current stalemate in the property deal.

Background on Dari Business Park and its Significance

Located in the upscale area of Karen, Dari Business Park is a prime commercial property that has been the subject of interest in recent times. The business park is situated in a secure and desirable location, making it an attractive option for businesses and investors. The park is home to various tenants, including companies and organizations that operate in the corporate and commercial sectors.

Notable Developments at Dari Business Park

In recent years, Dari Business Park has undergone significant developments, including the construction of new office spaces and amenities. The park is designed to provide a comfortable and productive work environment for its tenants, with modern facilities and services. The business park’s location in Karen offers easy access to Nairobi’s central business district, making it an ideal location for businesses that require proximity to key decision-makers and stakeholders.

Source: Business Daily