The Institution of Surveyors of Kenya (ISK) on Friday, May 12, condemned the rampant incidents of Kenyans losing millions to land-buying companies.
Led by Chairperson Valuer Abraham Samoei, ISK urged the government to deregister the companies involved to prevent others from being duped.
Samoei called upon Land Cabinet Secretary Zachariah Njeru and Attorney General Justin Muturi to liaise and set up regulations to monitor and regulate the land-buying companies.
According to the chairperson, there was a proliferation of land-buying companies that con Kenyans especially those in the diaspora as they cannot see the land for sale.
"The land-buying companies are run by people with little to no knowledge of real estate. Their goal is to make a profit and often disregard ethical business practices," the chairman stated.
He further accused the agents of manipulating the market and giving misleading information as a marketing strategy and the clients only find out after making the payment.
ISK demanded that Muturi should windup all companies involved in defrauding Kenyans and ensure the owners are charged.
"The owners should be expedited to restore faith in the sector," he added.
Land CS was urged to shut down all agencies run by unprofessional and introduce regulations to protect Kenyans from fraudsters.
"The proposed regulations should provide guidelines and stop the wanton subdivision of agricultural land that has no viability of residential use. This subdivision is affecting food security and the economy," the chairperson added.
Samoei accused the companies of selling land in areas with no amenities leaving the buyers at a loss.
Additionally, he urged the members of the public to deal with registered companies whose information is easily found through the ISK.
