By Sam Alfan.
A Rwandese investor, Jean Baptiste Uwemeye and his children have a setback in their efforts to block Egyptian investor Elsaei Waseem Ahmed from transferring or disposing of assets linked to their Sh134 million investment in Nairobi’s Grand Premier Apartments.
High Court Judge Njoki Mwangi dismissed the case, ruling that the application lacked merit.
The judge found that the plaintiffs had failed to establish a prima facie case, which is necessary to warrant an injunction.
The Rwandese investors had accused Elsaei of fraudulently acquiring USD 1,040,000 from them under the guise of securing luxury real estate investments.
They claimed discrepancies in pricing and incomplete documentation raised concerns, while Elsaei allegedly blocked communication and threatened them when they requested refunds.
However, Elsaei opposed the claims, asserting that the property is owned and managed by Grand Premier Apartments Limited.
He argued that the plaintiffs had failed to pay the full purchase price and had demanded alterations that were not part of the original agreement. He also stated that the project had been completed and occupancy certificates issued.
Judge Mwangi noted that investigations were already underway, dismissing the plaintiffs’ request for the Directorate of Criminal Investigations to probe further, deeming it premature.
The court ruled that the request for injunctions and investigations was unfounded, as the plaintiffs failed to provide sufficient evidence of fraud.
Uwemeye contended that Elsaei fraudulently obtained USD 1,040,000.00 from him and his children under the guise of securing investments in a luxury real estate development project called “The Grand Premier Apartment” in Lavington, Nairobi.
He claimed that Elsaei presented himself in early 2023 as a representative of a reputable real estate company and provided elaborate investment proposals, including luxury amenities and high returns.
The Rwandese further told the court that they were promised specific units comprising penthouses & commercial spaces, with agreements and documentation provided, but some remained in draft or were not executed.
He said despite full payment, discrepancies in pricing such as an under-declared amount of USD 500,000.00 for a penthouse actually purchased for USD 570,000.00.
He raised concerns of tax evasion, which made the Egyptian refuse to sign incomplete documents.
He further stated that attempts to monitor the project were obstructed by Elsaei who became hostile when asked for refunds.
He asserted that Elsaei blocked communication, made false claims, and threatened them while boasting of government connections to intimidate them.
Uwemeye rushed to court stating that Elsaei may dissipate or hide the funds in the event that the orders being sought are not granted, causing irreparable financial harm.
The Egyptian opposed the application saying that the disputed property was wholly owned and managed by Grand Premier Apartments Limited.
He told the High Court in Nairobi court that the Rwandese had entered into Agreements to purchase several units and make alterations, and they paid part of the purchase price, but left a significant balance unpaid.
Further, he said major customizations were undertaken at the request of the Rwandese, leading to further costs but that they failed to cover.
The developer said the Rwandese and his children demanded further changes including a spa and a bar, which were not acceptable.
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