The Association of Real Estate Stakeholders (RESA) has formally appealed to President William Ruto to consider appointing a member with a background in the real estate sector as the next Cabinet Secretary for the Ministry of Lands, Public Works, Housing, and Urban Development.
During a press conference held in Nairobi yesterday, RESA Chairman Kinyua Wairatu emphasized the critical need for a Cabinet Secretary who understands the intricacies of the real estate industry to effectively address its pressing issues.
“From our analysis of previous appointments, it is evident that appointing someone with real estate expertise is crucial. The challenges facing the land sector require someone with practical experience in our industry,” stated Chairman Wairatu.
RESA has put forward Perminus Kariuki, a prominent spokesperson within the association, as their proposed candidate for the position.
“We believe that Mr. Perminus Kariuki, given his background and extensive experience in the real estate sector, is well-suited to tackle the issues plaguing our industry. We have concrete proposals on how to combat fraud and enhance regulatory frameworks, which only someone from within our sector can fully comprehend and implement,” added Wairatu.
Mr. Kariuki is the founder of Nyota Njema Real Estate Limited, a thriving property investment company established in 2018. He holds a Bachelor of Business Administration with a financial option from Maseno University and is a certified financial advisor.
Highlighting the sector’s contribution to the national economy, Stephen Kigathe, another RESA member, underscored the significant tax contributions and infrastructural developments facilitated by the real estate industry.
“We not only generate substantial tax revenues but also contribute to infrastructure enhancement through our projects. Appointing someone like Mr. Kariuki would be a recognition of our sector’s pivotal role in national development,” remarked Kigathe.
In a separate initiative, RESA announced a rigorous campaign against fraudulent land selling companies operating without proper certification.
“We are launching a comprehensive campaign to expose and confront all fraudulent entities within our industry. We are committed to protecting the integrity of our sector and ensuring that legitimate businesses thrive,” affirmed Chairman Wairatu.
RESA aims to register over 2,000 compliant real estate companies by next year as part of their ongoing efforts to uphold industry standards and transparency.
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