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Chairman Association of Real Estate Stakeholders (RESA) Kinyua Wairatu has now urged Kenyans to be extra vigilant while purchasing land.
Reacting after a High Court in Thika ordered a Lesedi Developers to find to provide alternative land or compensate the buyers, Wairatu urged Kenyans to only purchase land from companies affiliated to RESA saying that the lobby has established mechanisms to ensure customers have their property in case of any eventuality.
“ It pains a lot to see Kenyans lose their money when they invest with companies which have dubious deals. We are telling them to only focus on RESA affiliated companies. This is the only place where they will find hope. We have tasked our members to ensure that incase of any eventuality, customers will have their money or land, “said Wairatu.
Wairatu acknowledged there have been challenges in the real estate in Kenya but promised that a lot of work is happening behind the curtains to ensure the industry is streamlined.
“ From the time started RESA, we have tirelessly ensured that our members have followed the integrity steps. We have a lot of complaints especially from Kenyans in the diaspora but I can assure you that we are working to make this sector clean,” he said.
Wairatu further urged Kenyans not to lose hope saying restoration is on the way.
The complainants told the court that they had paid millions of shillings to the Thika-based real estate developer for land that was never delivered.
Lesedi Developers’ founder, Geoffrey Kiragu, is now in the spotlight after the court flagged his company for obtaining money under false pretenses.
For years, Lesedi allegedly lured buyers into investing in land projects only to drag them into a frustrating cycle of delays, denials and unfulfilled promises.