Former Kiambu County Governor At Risk Of Losing 52 Million After Deal Gone Wrong

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Former Kiambu Governor Ferdinand Waititu is currently at a high risk of loosing Ksh 52 million after he failed to complete full transaction with General Properties Limited.

Waititu had paid the Ksh 52 million to General Properties Limited as a 10% deposit for a prime property in Nairobi Central Business District (CBD) which was valued at Ksh 520 million.

The former Kiambu County Governor who was transacting using his company, Saika Two Estates Developers which he is the director could not raise the Ksh 448 million balance which he was supposed to pay within 90 days as per the agreement.

General Properties Limited was urging the High Court to confirm their decision to withhold the deposit and terminate their agreement with the ex-governor.

Waititu is Accused of breaching the terms of the sale agreement dated 30th May 2018 when he was Kiambu County Governor.

The property is Solar House which is a commercial building. It is located off Harambee avenue along Aga Khan walk.

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