- Kamau said the long period taken to secure approvals has seen private developers take shortcuts, leading to the collapse of buildings.
- He said raising funds to put up buildings is not easy.
A real estate developer has urged the state to address bottlenecks facing the sector to spur growth and attract huge investments.
Fusion Capital Group CEO Daniel Kamau on Saturday decried inefficiencies saying it has made the sector perform poorly.
"We want to see efficiency in the sector. In Kigali, Rwanda for instance, there is a one-stop shop for clearing investors and one gets all the necessary approvals in one month. It took us four years to get approval in one of the counties here," Kamau said.
Kamau said the long period taken to secure approvals has seen private developers take shortcuts, leading to the collapse of buildings.
He said raising funds to put up buildings is not easy.
"We need a conducive environment for money to flow," Kamau said.
The CEO said the ongoing reforms at the Lands Ministry will help address some of the challenges.
He said the ongoing digitisation of land records has helped curb corruption and eased land transactions.
Kamau said the search for land records has improved.
"Government should move fast to ensure that the processes are fully digitised," he said.
Kamau spoke Saturday during the launch of over 40 plots for sale in Makutano-Thigio in Kiambu.
The 44 plots in a five acres piece of land have since been subdivided into 50 by 100 and are going for Sh850,000.
Kamau said the project delivers a product that Kenyans can afford.
He said they are selling land that they own unlike other players in the market.
"The title has been transferred to us. We want to be legit," Kamau said.
Kamau challenged Kenyans to invest saying land prices shoot quickly.
He said the infrastructure in the area had improved.
Kamau said each of the owners will have their titles.
"We will ensure well-planned and controlled development," he said.
Kamau said the housing sector has challenges as there are only 25,000 mortgages each year.
Fusion general manager Kelvin Sanya said three house designs are in place to be customised by plot owners to ensure uniformity.
The Constitution provides that every person has the right to accessible and adequate housing, and to reasonable standards of sanitation.
However, there is a biting shortage of houses in the country.
Kenya needs to build 250,000 units annually for at least four years to plug its cumulative housing deficit of two million units.
At the start of his second term in 2018, then President Uhuru Kenyatta launched an affordable housing programme as one of the big four agenda pillars to promote long-term economic development.
The other pillars are food and nutrition security, a robust manufacturing sector and universal healthcare.
The lowest cost of a new house is estimated at $11,000 (Sh1.1 million), and only about 11 per cent of Kenyans earn enough to support a mortgage.
Public and private housing developers have previously concentrated on the middle and high-income groups.
Sanya said the Alpha Meadows will be a gated community that is organised.
"The Alpha Meadows by Fusion estate is a neatly planned gated community just 18km from Sigona golf club and Kikuyu town in Kiambu town along Dagoreti road. There will be controlled development to ensure peaceful coexistence," Sanya said.
Sanya said the plot owners will not pay an extra cost for title transfers and registration.