The late Mombasa tycoon Twahir Sheikh Said. A total of 41.8 acres of both idle and developed land in Mombasa, Lamu and Machakos registered under the name of the tycoon has been put on sale. Photo/ standardmedia.co.ke
The family of the late Mombasa tycoon Twahir Sheikh Said popularly known as TSS is set to lose more property after Garam Investment Auctioneers revealed their plans to auction the deceased's property located at the Coast and in Machakos County, in a bid to offset the loans he had acquired to build his business empire.A total of 41.8 acres of both idle and developed land in Mombasa, Lamu and Machakos registered under the name of the tycoon has been put on sale. A notice seen by Nation indicates that the tycoon’s commercial building in Mombasa, villa complex in Nyali, 28-acre seafront plot in Shella and industrial properties in Shimanzi and Mavoko will be sold to settle the loans.TSS borrowed over Sh3.5 billion but he was yet to settle the loans before his death last year.The auctioneers want interested bidders to deposit Sh10 million for each of the property on sale, before they can be allowed to participate in the process. TSS was one of the most influential businessmen in Mombasa and the entire Coast region.