Real estate investors call on government to curb rogue players in the sector

Real estate investors and industry leaders have called on the government to take urgent action to regulate the sector and address the growing menace of rogue players who defraud unsuspecting buyers.

Speaking during the launch of a new gated community project in Juja by AMG Realtors, CEO Martin Githinji highlighted the pressing need for stronger regulations to eliminate fraudulent operators.

"One of the key challenges we face in the real estate sector is the lack of regulation to address rogue players. Many hardworking Kenyans have been conned out of their hard-earned money," Githinji said. "We appeal to the government to introduce stricter measures to restore confidence in the sector and protect investors."

Githinji also emphasized the positive impact of legitimate real estate projects on the economy, citing job creation and increased demand for construction materials such as cement and steel. However, he urged the government to regulate material prices to ensure housing projects remain affordable.

Monica Victoria, a Kenyan investor living in the diaspora, expressed her admiration for the transformation of Juja, stating: "The last time I was here, Juja looked completely different. I couldn’t believe the progress I saw today," she said. " AMG Realtors has done an incredible job, and we must commend them for making this area such a beautiful place."

Victoria’s sentiments were echoed by local resident and investor Beth Wangeci, who described Juja as a rapidly growing investment hub.

"Juja has experienced tremendous growth, and I encourage Kenyans to invest here," Wangeci said. However, she also joined the call for action against fraudulent developers. "We need the government to crack down on rogue companies that con people. Investors should feel confident that their money is safe."

Githinji further noted that the gated community project complements the government’s affordable housing agenda. The initiative allows individuals to purchase plots and build their homes within a well-planned environment, contributing to the national housing deficit.

He called on the government to expand infrastructure across the country to support more housing projects. "With better infrastructure, we can deliver more housing units for Kenyans and stimulate further economic growth," he said.