The Owner Of The Ksh3 billion New Muthaiga Mall

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The Owner Of The Ksh3 billion New Muthaiga Mall
Photocredit/Courtesy

The New Muthaiga Mall is among the most stylish malls in the country. Located along Thigiri Ridge Road in Karura, it offers a wide variety of options from shopping, dining and games. In this article, WoK brings you the story of the billionaire behind the popular mall.

Background

The New Muthaiga shopping mall scores highly in serenity thanks to the large gardens and running water fountains. There is a wide green space which acts as a children’s playground for kids to enjoy fun games as their parents shop.

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The mall is home to different international and local brands including Karura Coffee house, Clarett lounge, KFC, Chinese Kitchen and Chandarana FoodPlus Supermarket among others. The mall is equipped with a standby instant generator, ample parking for up to 500 vehicles, a borehole, 24 hour CCTV surveillance and tight security.

Ownership 

The mall is owned by reclusive billionaire Madatali Chatur and his firstborn son Rahim Chatur through their company Gemini Properties. Mr Chatur is the founder and CEO of Chatur Group of Companies – a conglomerate with interests in real estate, hotels, residential facilities and agriculture.

The company operates 16 companies which hold assets worth over Ksh 76.99 billion as reported by Nation. Apart from New Muthaiga mall, the billionaire owns Likoni mall, Gigiri Mall, Diamond Plaza and Ngara Shopping Centre among others.

Court Tussles

The Ksh3 billion mall was constructed in 2010 and faced tough resistance from Muthaiga residents who moved to court to claim that the land was listed as a public property for construction of a nursery and clinic.

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“The public plot was allocated to Gemini properties with a new land reference number being 209/9295 in place of the original 209/8000/84, subject however to certain special conditions and in particular condition number five, which was to the effect that the suit property would be used for a clinic and day nursery school,” read court papers seen by Nation.

“The allocation of the suit property consisted of a public utility, was illegal and accordingly Gemini Properties holds the suit property in trust for the citizens of Kenya and for the residents of New Muthaiga in particular,” the residents argued.

The company would then come out to claim that the land has never been a public nursery or clinic as it was alleged by the residents.

“We the holders of Title by way of Grant from His Excellency the President of the Republic of Kenya to Gemini Properties Limited for a period of 99 years with effect from 1.1.1978 of all that property now commonly known as New Muthaiga Shopping mall wish to put the record straight on matters being circulated in the media with regard to the said property.

That the same has never been a public nursery and clinic as is being alleged in the media but rather has always been a private property and was used as a private school duly registered and licensed by the ministry of education. The same was subsequently closed due to various challenges and a change of user to commercial use was duly approved by all the relevant agencies and departments, records of which are available in the public,” read a statement from the company.

High Court Judge Sitati would then rule that only the Attorney General could sue to recover public land and not residents. The ruling allowed Mr. Chatur to complete the Ksh3 billion mall as reported by Nation.

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