NAIROBI (Xinhua) --
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.
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”.
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.
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.
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.
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.