By Staff Reporter

Copyright web

Staff Reporter

QIAOXIA ‘Stina’ Wu, a well-known Chinese property mogul in Namibia, has been taken to court over a debt of more than N$15 million for the occupation of two erven for close to four years, without allegedly paying the monthly rent or the municipal fees, among other things.

The legal action, which has now been referred to a court-connected mediation, was brought against Wu by Aquarius Investment 85 cc, as well as Hanobur Properties cc.

The court action comes as the property mogul already faces property auctions for repayment of debt of N$35 million from the First National Bank of Namibia (FNB), as well as another debt of N$68 million owed to the Development Bank of Namibia (DBN), bringing into question whether Wu can maintain the stronghold she has had on the Namibian property markets for so long.

In the particulars of claim, the first plaintiff, Aquarius Investment 85 cc, is said to be the owner of Erf 709 in Windhoek and that Wu, from 1 February to 31 January 2024, allegedly occupied Erf 709, resulting in Aquarius Investment 85 cc suffering a loss of a monthly rent of N$104,166.66 per month.

In the premises, Wu is liable to pay Aquarius Investment 85 cc the sum of N$4,999,999.68.

Furthermore, Metcalfe Beukes Attorneys, who represent the plaintiffs, said that Wu was liable to pay all municipal charges in respect of the said premises and failed to pay such charges in the sum of N$592,956.47.

During the period of her occupation of the premises, the defendant (Wu) damaged the property and/or destroyed and/or removed structures, fixtures and fittings. Insofar as may be necessary, the first plaintiff avers that, in doing so, the defendant acted wrongfully and intentionally. As a result of the defendant’s conduct, the first plaintiff suffered damages constituted by the reasonable costs of repair and/or reinstatement, in the sum of N$2,792,145.35,” Metcalfe Beukes Attorneys said.

In terms of the second claim, by Hanobur Properties, Wu is said to have also occupied another erf. During the period 1 February 2020 to 31 January 2024, the defendant occupied Erf 8048.

As a result, it is said that Hanobur Properties suffered losses in the monthly rental amount of N$104,166.66 per month, and as such Wu is liable to pay the sum of N$4,999,999.68 for the rent missed, as well as N$626,916.93 for unpaid municipal bills and an amount of N$2.7 million for damages which she allegedly caused to the property by destroying and/or removing structures, fixtures and fittings on the said property.