Meet Kenyan Tycoon Behind the Multi-Million OTC Mall Property

For many years, Nairobi residents were curious about the identity of the businessman behind the well-known building at the Overseas Trading Company (OTC) stage in the city centre.

The structure, located along Ronald Ngala Street, remained under construction for a long period, becoming one of the most recognizable landmarks for commuters and traders navigating the busy streets of Nairobi.

The multi-storey building stands on approximately a quarter-acre piece of land and is owned by Kenyan billionaire businessman Victor Maina.

A Landmark in Nairobi’s CBD

For more than a decade, the building remained covered with construction nets as workers continued plastering and carrying out other finishing works. Due to the long construction period, the project frequently attracted attention and sparked conversations among Nairobi residents, especially on social media.

Many city dwellers even used the unfinished building as a reference point when giving directions within the Central Business District.

However, after years of construction, the building has now been completed and is operational, marking the end of one of the longest construction projects in Nairobi’s CBD.

History of the OTC Property

Before the current development began, the land previously hosted the famous Jack & Jill Supermarket, a popular shopping outlet owned by businessman Schon Noorani.

Reports indicate that Victor Maina purchased the property in 2006. However, the transition was not smooth. Noorani reportedly resisted vacating the premises, leading to a legal dispute that was eventually taken to the Business Premises Rent Tribunal.

The court later ruled in favour of Maina, allowing him to proceed with redevelopment plans for the property.

Following the ruling, construction of the modern commercial building began, eventually turning the site into one of the most talked-about developments in Nairobi’s Central Business District.

Victor Maina’s Business Empire

Apart from the OTC property, Victor Maina has invested in several other business ventures across Kenya.

He is associated with Mathai Supermarket, a retail chain with branches in towns such as:

Nairobi
Thika
Embu
Meru
Karatina
Nyeri

Maina also owns Klub Image Hotel in Thika, located along Haile Selassie Road, about one kilometre from the town centre. The hotel offers accommodation, restaurant services, a bar, and other hospitality amenities.

In the same town, the businessman also runs Klub Liquid Cash, a popular entertainment spot.

Additionally, Maina has invested heavily in the real estate sector, owning multiple residential apartments and commercial properties across the country.

Legal Troubles in Land Dispute

In 2022, Maina faced legal challenges related to a land transaction involving businessman Kariuki Muiruri.

Court documents indicated that the disputed land had allegedly been sold to Maina for KSh 9 million in 2008, but only KSh 2 million was reportedly paid.

Muiruri claimed that the remaining balance was never settled and further accused Maina of retaining the original title deed. The matter later became the subject of a legal case.

The OTC building in Nairobi has now been fully completed and is functioning, transforming one of the city’s most recognizable construction sites into a modern commercial property.