This is a subtle admission of a bubble that has finally burst. On this one, its naive to blame third parties for the current predicament Cytonn finds itself in. Simply put, Cytonn management DID NOT have a proper grasp of the main area of their investment which is the Real Estate development.

Real Estate development is more complicated than many people imagine. It's only professionals in that field who properly understand the intricacies involved.

@PaulKimani, to his credit, has all along warned Wazuans that Cytonn is a house built on sand. Instead of people taking heed, some opted to hurl insults in his direction and at his person.

Cytonn was a scam and this thing was always going to end up in premium tears for the gullible and greedy investors.

The elephant in the room was always going to be the unrealistic and hence the unsustainable interest rate promised to investors. The bubble had to burst, and indeed the bubble has ultimately burst.

Speaking of ARM, why has CMA not de-listed it from NSE?

I live next door to the Alma which is probably Cytonn's largest project to date. This project was moving at express speed in the first few years of construction. Everyday the site was full of workers doing their thing the whole day. There was clearly money in the bank to fund all the activity. Now the progress of the project has become very stop-start. Clearly these guys are not as liquid as before. They're scrounging around for money to plough into the business. At this point you have to wonder what the difference is between this and building on your own. Anyway the silver lining is that, slow as the progress may be, this project is now too far along to fail. They will most likely cross the finish line eventually.