EXPLAINER: How Raphael Tuju Acquired Karen, Upper Hill Properties In His Twenties
Politician, media professional, and businessman Raphael Tuju, who is facing threats of auctioning his Nairobi property, has explained that he first acquired the Karen and Upper Hill prime lands when he was in his twenties.
Speaking in an interview with NTV on March 17, Tuju said his property journey began about 40 years ago, when he bought land in Nairobi’s Karen area, which was still largely undeveloped.
“The first time I bought land in Karen was 40 years ago, and it was Ksh100,000 per acre,” stated Tuju.
“I took a loan from the National Bank. The minimum you could buy in Karen at that time was Ksh250,000. I took a loan of Ksh180,000.”
He revealed that at the young age of 27, he secured his first parcel in Karen using a loan from the National Bank of Kenya, priced at about Ksh100,000 per acre, but the minimum purchase was Ksh250,000.
This forced him to borrow Ksh180,000 and raise the remaining amount through personal means.
He further pointed out that, to make up the difference, he sold his only car, a move that saw him return to public transport, as he prioritised land ownership over maintaining a personal vehicle.
“The other Ksh60,000 I raised by selling only the car I had at that time. This prompted me to go from owning a car back to a matatu,” highlighted Tuju.
That decision, he explained, became a turning point, setting him on a path that would eventually see him accumulate prime land holdings in some of Nairobi’s most sought-after locations.
Among those locations is Upper Hill, now a major commercial hub where property values have risen significantly over the years, boosting the value of early investments.
Years later, Tuju expanded his portfolio through a large-scale acquisition of a 20-acre parcel in Karen, which was developed into high-end residential and hospitality projects by associated firms.
The acquisition was financed in 2015 with a Ksh1.2 billion loan to support both land purchases and development, which has since turned into a public saga.
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Of the total loan, approximately Ksh900 million was used to pay for the land, with the rest allocated to building projects, such as wellness facilities and commercial spaces within the property.
The former journalist is now facing a severe financial and legal crisis stemming from a 9-year, Ksh 1.9 billion to Ksh2.2 billion debt dispute with the bank that loaned him the money.
He is currently resisting the auction of his properties, including a dramatic eviction from his Karen property, after accusing unnamed powerful individuals of orchestrating his downfall.
He, however, states that he is willing to pay all the money he owes and that he has not refused to pay the debt on the condition that transparency from all the parties involved in the debacle is maintained.
EXPLAINER: How Raphael Tuju Acquired Karen, Upper Hill Properties In His Twenties
