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THE STANDARD By
Wainaina Wambu |
April 1st 2021 at 15:30:51 GMT +0300
Cytonn Investments Chief Executive Edwin Dande
Last month, Cytonn Investments sued John Matheka – one of its investors – claiming Sh17 million for defamation after serving him a cease and desist notice.
While the investment firm argued the move was to protect its brand from harm, going after one of its clients highlighted the souring relations between the firm and investors over the past year.
This is after the firm invoked a force majeure extending the maturity date of two of its real estate funds – the Cytonn High Yield Solutions (CHYS) and the Cytonn Project Notes – to June this year.
THE STANDARD
BUSINESS
Cytonn Investments CEO Edwin Dande during a media breakfast meeting in Nairobi on September 30, 2020. [David Njaaga,Standard]
Three brothers have sued Cytonn Investment Limited for allegedly refusing to refund their Sh46 million.
Charles Nzioki Kanyaa, Harrison Kaloki Kanyaa and Robert Munyao Kanyaa claimed they invested the money in Cytonn’s Real Estate projects with a promise that they would get a handsome reward for their investment, but the company has refused to pay them back.
Through lawyer Kioko Kilukumi, the siblings want the court to order Cytonn Real Estate Project Notes, Cytonn High Yield Solutions and Cytonn Investments Management to refund them Sh46,792,603 and the interest the money has accrued from the time of deposit.
THE STANDARD By
Dominic Omondi |
January 7th 2021 at 00:00:00 GMT +0300
Cytonn Investments CEO Edwin Dande. [File, Standard]
Cytonn Investments plans to sell one of its prime plots in Nairobi, ending its dream to build a Sh21 billion tower.
Edwin Dande, the Cytonn chief executive yesterday said the company had resolved to put its four-acre plot in Kilimani up for sale following negative publicity on the project.
The firm will be accepting bids for the plot, with the proceeds to be used to improve liquidity for the company’s real estate funds.
“We are selling the best land in Kilimani, bids welcome,” Dande posted on Facebook.
Cytonn Hands Over 120 Units Of The Alma Phase III
By Soko Directory Team / Published December 22, 2020 | 11:38 am
Cytonn Real Estate, the development affiliate of Cytonn Investments, is today handing over the third phase of its 5 Billion shilling Flagship Project, The Alma, coming barely two months after handing over the second phase.
According to Cytonn, the majority of urban dwellers in Nairobi live in very basic dwellings without comprehensive lifestyle amenities, reliable water, and power supply.
Cytonn Investments seeks to address this problem by building comprehensive lifestyle developments, such as The Alma that has everything within reach from daycares to swimming pools.