LSK Chair Calls for Urgent Reforms to Curb Corruption in Real Estate Sector » Capital News

NAIROBI,Kenya Oct 11-The Law Society of Kenya (LSK) Chairperson Faith Odhiambo has raised alarm over growing corruption, inefficiency, and bureaucratic delays within real estate and land administration systems.

Speaking during the Association of Real Estate Stakeholders (RESA) Annual Dinner in Nairobi, Odhiambo said the industry is riddled with complaints about irregular approvals, compromised registries, and poor coordination between government agencies and counties.

LSK Chair warned that the problems are threatening investor confidence and exposing property buyers to huge losses.

 “We’re seeing increasing complaints about corruption and inefficiencies at the Ministry of Lands and across county governments,” she said.

 “These challenges are not only at the land registries but also in approvals for developments. They have far-reaching effects for those taking loan facilities, and banks must ensure proper securitization to protect investors.”

She said the solution lies in multi-sector collaboration involving lawyers, bankers, surveyors, real estate agents, and planners to collectively identify and address loopholes that undermine transparency in the property market.

“We must bring all players together  from financiers to regulators  to develop solutions that restore order and accountability.And where processes are flawed, we must not hesitate to challenge them in court to ensure transparency and fairness for all parties,”she said.

Odhiambo further noted that  courts have recently taken a tougher stance on property ownership disputes, emphasizing the need for buyers to conduct thorough due diligence before investing.

“Due diligence must go beyond surface checks. Investors need to dig deep into the ownership history of properties and verify all approvals. We have seen people lose land that changed hands several times, simply because it was originally public land,” she warned.

At the same event, newly appointed RESA Vice Chairperson Abigail Zuena Gikonyo turned her focus to women’s empowerment in real estate, urging women to be deliberate about establishing ownership rights.

 “Women must now be intentional about owning propertyThe law has evolved  beyond the right to own property, you must prove your financial contribution toward its purchase. In cases of divorce or death, if you cannot demonstrate that contribution, the law may not necessarily protect you ,” Ms. Gikonyo said.

She noted that property ownership among women remains disproportionately low despite constitutional guarantees, calling on women to pursue joint ownership and proper documentation when acquiring assets.

RESA Chairperson Dr. Chrispus Wachira reassured investors that the association is enforcing higher professional standards to protect the public from fraudulent dealings.

 “We want to tell Kenyans they will not lose their hard-earned savings if they engage members of this association.We are instilling a culture of professionalism and adherence to process  both within organizations and in compliance with national laws,” said Dr. Wachira.

Wachira said RESA members are being trained to uphold ethical practices and comply with both internal company procedures and government regulatory frameworks.

The annual dinner brought together key industry players from the legal, banking, and property development sectors to discuss reforms real estate market  a sector valued at billions of shillings but increasingly marred by disputes, fraudulent transactions, and unverified investments.


Source

Visited 1 times, 1 visit(s) today

Recommended For You

Avatar photo

About the Author: News Hound