Sharp Daily
  • News
  • Business
  • Technology
  • Real Estate
  • Opinion
  • About Us
No Result
View All Result
Sharp Daily
  • News
  • Business
  • Technology
  • Real Estate
  • Opinion
  • About Us
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Koinange Family Wants Village Market, Tribe Hotel Demolished

Editor SharpDaily by Editor SharpDaily
November 2, 2022
in News
Reading Time: 2 mins read
Village Market

Village Market. [Photo/ Courtesy]

The children of former provincial commissioner Charles Karuga Koinange have petitioned to the High Court to have the Village Market and Tribe Hotel demolished, saying the two upper market facilities sit on their land.

In a dispute that has roped in the KCB Group, the Koinange scions say that Greenhills Investment, which owns the Village market and is associated with the Ehsami brothers (Abbas, the eldest, Mehraz an architect, and Hamed, the youngest), grabbed the land from them.

Greenhills acquired a Ksh8.5 billion loan from KCB, which they used to develop the facility which is now estimated to be worth Ksh15 billion.

According to the proprietors, they bought the land which was full of coffee bushes, before they developed the facility which has become a favourite spot for Gigiri residents and diplomats.

RELATEDPOSTS

No Content Available

Read: Portland Cement Company Settles  Ksh6.8 Billion Loan

The Koinange family now want a share of the profits that the Ehsami brothers have made over the three decades that the facility has been in existence.

“In the alternative, full compensation to the plaintiff at market value or current valuation of the suit property,” the Koinange family says in the petition.

Mr Koinange, who served as a senior chief and later as a provincial commissioner, was the younger brother of former powerful minister in the Jomo Kenyatta government, Mbiyu Koinange.

He died in 2004, leaving behind a multi-billion estate consisting of land, shares in various companies, money in bank accounts and other investments estimated to be worth more than Ksh15 billion.

Read: Cracks Emerge In BCLB Over Revoked SportPesa Licence

According to the family lawyer Ashford Mugwuku, the land was among the properties left for distribution among the family, but the exercise has been stalled by the ownership tussle.

“In the interest of justice, it is necessary to grant the orders sought to forestall further illegal dealings or transactions on the subject property and to preserve the subject matter of this suit,” Mr Mugwuku says in court documents.

“The defendants have refused or failed to account, render requested information of particulars pertaining to this claim despite written complaints and demands by the plaintiffs,” the lawyer says.

The High Court will hear the petition from Wednesday.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Government Announces Rollout Of Single Business Permits

Next Post

Alcohol Manufacturing Companies Shut Down During Uhuru Era Re-opened

Editor SharpDaily

Editor SharpDaily

The latest in business, real estate, education, investments, tech and entrepreneurship, brought to you daily. Reach us through thesharpdaily@gmail.com

Related Posts

News

Lowering the REIT Investment Threshold: A Catalyst for Wider Retail Participation in Kenya’s Property Market?

November 13, 2026
Business

Investors submit kSh69.26 billion in treasury bill bids as yields decline

November 13, 2026
News

Interoperability Is Reshaping Kenya’s Digital Finance Landscape

November 13, 2026
News

Understanding Bond Yields and Prices

November 12, 2026
John Mbadi, Kenya's treasury secretary, during an interview in Nairobi, Kenya, on Wednesday, Aug. 20, 2025. Kenya is in talks with China to convert dollar-denominated debt the East African nation owes its biggest bilateral lender to yuan and extend the repayment period, Mbadi said. Photographer: Kang-Chun Cheng/Bloomberg via Getty Images
Business

CBK bond swap attracts low investor interest

November 12, 2026
Business

US investors increase interest in kenya

November 11, 2026

LATEST STORIES

Lowering the REIT Investment Threshold: A Catalyst for Wider Retail Participation in Kenya’s Property Market?

November 13, 2026

Can creditors or bankruptcy touch your pension?

November 13, 2026

Investors submit kSh69.26 billion in treasury bill bids as yields decline

November 13, 2026

Interoperability Is Reshaping Kenya’s Digital Finance Landscape

November 13, 2026

Understanding Bond Yields and Prices

November 12, 2026

Quickmart debuts on the NSE, opening at Sh10 per share under ticker QMRT

November 12, 2026
John Mbadi, Kenya's treasury secretary, during an interview in Nairobi, Kenya, on Wednesday, Aug. 20, 2025. Kenya is in talks with China to convert dollar-denominated debt the East African nation owes its biggest bilateral lender to yuan and extend the repayment period, Mbadi said. Photographer: Kang-Chun Cheng/Bloomberg via Getty Images

CBK bond swap attracts low investor interest

November 12, 2026

Can Merging Pension Schemes Strengthen Kenya’s Retirement Benefits Industry

November 12, 2026
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • News
  • Business
  • Technology
  • Real Estate
  • Opinion
  • About Us

Sharp Daily © 2024