Who Owns Popular OTC Building? The Story of Victor Maina, the Real Estate Mogul

If you have visited Nairobi, you most likely know of the controversial OTC Building that has been under construction at OTC for years.

Well, a businessman from Thika named Victor Maina owns the famous building which is located at the Overseas Trading Company (OTC) stage on Ronald Ngala Street.

Additionally, he has made significant investments in the real estate, building, retail, and hospitality sectors.

In 2006, the billionaire purchased the structure that housed Jack N Jill supermarket and eventually had it torn down.

Here is the story of Victor Maina as told by Jambo Daily

Eviction of Jack N Jill supermarket

Nairobians shopping at the Jack n Jill supermarket that was demolished in 2013. Photo/Courtesy

The premises where the famous OTC building lies currently used to host the classic Jack and Jill Supermarket before the renowned netted building was constructed.

Schon Noorani, the owner of Jack N Jill, suffered significant losses when the property was demolished in 2013 after looters made off with items worth millions of dollars.

Later, it was discovered that Maina had purchased the structure seven years earlier, which was among the ambiguities that caused the building to be demolished.

By the time the structure was destroyed, Maina had requested that Noorani leave the area because he needed to undertake some remodeling.

Despite this, Noorani insisted Maina go to the Business Premises Rent Tribunal, citing the structure’s poor state.

The court ordered the rich store owner to evacuate the property within a week after approving the refurbishment of the structure.

He defied the directive and later went to court to block Maina from ejecting him forcibly from the property.

After the Court of Appeal determined that the grounds were unreasonable and incorrect, the order was subsequently lifted.

Noorani was horrified to see his multi-million dollar investment coming down brick by brick in May 2013.

Millions of dollars in losses resulted from his items being stolen by looters.

Read also Tallest Buildings In Nairobi Kenya.

Construction of the OTC Building

OTC Building

The Overseas Trading Company (OTC) stage’s netted building on Ronald Ngala Street was constructed in the same location as the Jack N Jill store.