Abdinasir Ali Hassan loses bid to stop $9.3m property sale

Somali-Kenyan oil tycoon Abdinasir Ali Hassan has suffered a fresh blow after the Court of Appeal in Nairobi rejected his bid to stop the sale of a prime property valued at Ksh1.2 billion ($9.3 million) in the city’s Upper Hill district.

The three judges—Justices Wanjiru Karanja, Mumbi Ngugi and Aggrey Muchelule—dismissed his petition with costs, saying it failed to meet the legal standards required for such an appeal.

According to court filings dated Sept. 15, 2020, One Upperhill Towers Limited had pledged the property to Credit Bank Limited as collateral for financial facilities advanced to Jabavu Village Limited and Hasscon Pharmaceuticals Limited. Both companies are linked to Hassan’s Hass Petroleum Group, which has interests spanning energy, property and pharmaceuticals.

High court backs property auction

The dispute escalated on Jan. 30, 2025, when One Upperhill Towers Limited moved to the High Court to block Credit Bank’s plan to auction the building through two auction firms, Purple Royal Auctioneers and Garam Investments Auctioneers. The company argued that the loan was being serviced under the agreed terms.

It also accused the lender of acting in bad faith by initiating what it described as an unlawful and premature sale. The applicant claimed the bank had not followed mandatory steps outlined under Sections 89, 90 and 96 of the Land Act, including issuing clear notices and allowing sufficient time to redeem the property.

Court records indicated that the loan had fallen into arrears. The judges ruled that once a borrower uses property as security and fails to meet repayment obligations, the lender is entitled to enforce its rights. The decision clears the way for Credit Bank to proceed with the auction.

Hassan pushes regional expansion, targets Mozambique gas

Hassan, who leads Hass Petroleum, has spent years expanding the company’s footprint across East Africa. The group now operates in more than 11 countries and maintains commercial offices in London and Dubai. While its name is widely tied to fuel retailing, the company has been widening its reach in upstream opportunities and cross-border energy projects.

Earlier this year, Hass Petroleum disclosed plans to work with the Mozambican government in natural gas and related energy developments. Hassan said officials in Maputo had shown strong interest in deeper cooperation, adding that the discussions had moved into what he called “the second level” — early talks on possible joint work in Mozambique’s gas infrastructure.