Dead Heat As Auctioneers Seek to Bring Down Kilimani Mall

A stand-off was witnessed at a mall in Kilimani on Thursday, June 24, after auctioneers sought to bring down the business premises.

Otieno Cynthia

Jun 24, 2021 - 15:22

Dead Heat As Auctioneers Seek to Bring Down Kilimani Mall

Kilimani OCPD, Muturi Mbogo said that the auctioneers had a court order to recover their debt of over Ksh 9 million.

They, however, wanted to tear down the premises before they were stopped by police officers at the scene.

Mbogo stated that The auctioneers wanted to demolish, but they need a court order that they do not have.

A bulldozer packed outside the business premises on Thursday, June 24.

Some cybercitizens on Twitter had expressed concern saying that the commotion experienced around the business complex caused a heavy traffic snarl-up in the area.

"Heavy traffic on Likoni road in Kilimani area due to what looks like major demolition of this upcoming shopping complexes," Ledama Sample, a netizen stated.

"Passed by Likoni Road, Kilimani, some people are about to cry, like really cry. Demolitions. This property is not even one year old since completion. It was done with speed and pomp," Okowa Nashon added.

A report from the Central Bank of Kenya indicated that thousands of homeowners defaulted on mortgage loan repayments, and therefore risked losing their homes among other properties.

Central Bank of Kenya data showed that 14.5 percent of all loans taken have defaulted.

As a result of the default, CBK noted that banks were aggressively looking into auctioning properties of their borrowers to recover the loans.