The High Court has authorized the auction of two apartment complexes in Juja and Ruaka associated with Senior Presidential Economic Advisor Moses Kuria, following his failure to repay a long-standing loan.
Interested buyers must place a KSh 3 million deposit to participate in the auction. The Juja property, known as Briden Apartments, is a five-storey building situated about 250 meters off Thika Road. It features eight one-bedroom units per floor on the first four levels and two more units on the top floor, built on two adjoining freehold plots.
The Ruaka complex, also a five-storey structure, lies approximately 160 meters off Limuru Road and 650 meters from Alma by Cytonn. It includes a mix of bedsitters, one-bedroom, and two-bedroom units, with ground-level parking for 15 vehicles.
While Kuria has not publicly disclosed the value of the outstanding debt or the identity of the creditor, the auction comes amid heightened scrutiny over his alleged ties to InvestAfrica-FZCO, a UAE-registered firm that shares a postal address with him.
Justice Aleem Visram dismissed Kuria’s attempt to halt the sale, allowing Garam Investments Ltd to move forward with the public auction scheduled for April 8. The two apartment blocks, which reportedly generate a combined monthly rental income exceeding KSh 541,000, are now set to go under the hammer.
Although Kuria denies any ownership of InvestAfrica-FZCO, official records link the company to Emerging Capital Holdings, which owns a controlling stake in Smith & Gold Productions. This firm was awarded a KSh 259 million tender to construct a stadium in Kiambu County before its ownership shifted to the UAE-based entity.
InvestAfrica-FZCO has also made significant moves on the Nairobi Securities Exchange, including acquiring Kenya Orchards Ltd in a deal valued at over KSh 210 million and purchasing a 35% stake in Eveready East Africa.
The auction of the Juja and Ruaka properties adds to growing questions surrounding Kuria’s financial dealings, offshore business connections, and their intersection with public procurement and private sector investments.
