Demolitions of buildings to Hurt Economy of Kenya by Sh500B
Kenyan economy stands to lose Sh500 billion in the event that all the houses built on riparian land within the city are demolished.
According to Tourism CS and Nairobi Regeneration Team co-chairman Najib Balala said that the government made some considerations before sparing the 5,000 buildings on riparian land.
“The demolitions were halted after being reported that if they are brought down, then the economy will suffer a setback of about Sh500 billion,” said Mr. Balala while appearing before the Senate Lands and Environment Committee yesterday.
He further added that the government was determined in ensuring that the state officers who were involved in misleading the investors by issuing them with title deeds are held accountable.
“The legal and public prosecution department in government will advise on legal actions for the officers to be surcharged,” said Housing PS Hinga Mwaura.
Mr. Mwaura also added that talks with the building owners are underway in a bid to find a way forward on the same.
“The identification of structures in riparian lands and wetlands is being finalized. Parallel to this exercise, a strategy to ensure that the rights of innocent residents are not infringed upon has been developed,” said Mwaura.
PLOTS AND HOUSES FOR SALE
Kenya2U has Great Property Deals Just for You!
• Intercity Gardens in Kitengela@ Ksh1.895M
• Tinga Springs in Kajiado @ Ksh99,000
• Ruaka Ridge homes in Ruaka @ Ksh7.1M
• Grey Oak property in Nanyuki @ Ksh350,000
• Grey Oak property in Athi River @ Ksh450,000
• Blue Bells Apartment along Beijing Road @Ksh7.4M
• inFinity Properties in Kantafu @Ksh 625,000
Call 0742343908 to Book yours Now!