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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Kenya pledges enhanced regulations in
property market to boost urban renewal

NAIROBI (Xinhua) --  The Kenyan government is banking on enforcement of stringent regulations to weed out malpractices in the real estate sector and hasten regeneration of cities, officials said on Wednesday.

James Macharia, cabinet secretary for housing and urban development, said that improved governance in the land and property markets is key to realize Kenya’s development blueprint, the Big Four Agenda on affordable shelter for all alongside urban renewal.

“The property market in this country has experienced rapid growth, hence the need to tighten regulations in the wake of ethical breaches that have led to collapse of buildings and encroachment into riparian land,” said Macharia.

He spoke in Nairobi during the Institute of Surveyors of Kenya regional conference whose theme was “Land and Property Sector: Delivering on Sustainable Development and the Big Four Agenda”.

Senior policymakers, investors, engineers and valuers attended the three days forum whose objective is to discuss the contribution of the real estate sector to Kenya’s transformation agenda.

Macharia said that a vibrant regulatory framework is required to ensure that ethical standards are maintained during construction of buildings.

“A regulated property market will attract investments required to help us bridge a housing gap in the country. We must therefore act on rogue developers responsible for polluting the urban environment,” said Macharia.

He said that both the national and county governments are harmonizing laws to ensure that growth of real estate sector is not detrimental to environment, human safety and health.

Professionals in Kenya’s property market that include land surveyors and valuers have developed a code of conduct to eradicate malpractices that have dented the sector’s image.

Abraham Samoei, chairman of Institute of Surveyors of Kenya, said that adherence to regulations will halt construction of structurally weak buildings that are a threat to public safety.

             

 

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