You are your own risk if you choose to invest in some of the real estate companies named in a survey released by Poll Arena International, a U.S.-based polling and research organization.
According to the survey, complaints received by the organization have cited several firms, including Lesedi Developers, Banda Homes, Gakuyo Real Estate, Uriithi Real Estate, Certified Homes, Comfort Homes, Mahiga Homes, Mizizi Africa Homes, Kamuthi Housing Cooperative, Cytonn Investments, Vasco Real Estate, and Eden Park Country Gardens.
Poll Arena International says the concerns highlighted in its report are based on complaints submitted by investors and should not be interpreted as proof of wrongdoing by any of the companies mentioned.
According to information released by the research organization, one complainant, Wangari Mwangi of Olympia, Seattle, Washington, alleges that she lost more than KES 7 million through investments that are currently under review.
“We have received numerous complaints and have decided to speak out on the concerns being raised by investors. We cannot simply sit back and watch people lose their hard-earned money without highlighting the issues they have brought to our attention. Some of these companies have a strong online presence, but complainants continue to raise serious concerns regarding their investments,” a statement accompanying the survey reads.
Poll Arena International, which says it has offices in New York and Dubai, has indicated that it plans to publish additional findings in the coming months, including a list of companies it considers reliable for investors. The organization has also announced plans to establish offices in Kenya in the near future.
The research company says the concerns outlined in its report are based solely on complaints received through its offices and are not intended to serve as evidence of misconduct by any company. It has urged diaspora investors and local buyers to exercise caution, conduct thorough due diligence, verify ownership and project documentation, visit project sites where possible, and seek independent legal advice before making investment decisions.
According to the report, the companies that have been the subject of complaints and concerns raised by complainants include Lesedi Developers, Banda Homes, Gakuyo Real Estate, Uriithi Real Estate, Certified Homes, Comfort Homes, Mahiga Homes, Mizizi Africa Homes, Kamuthi Housing Cooperative, Cytonn Investments, Vasco Real Estate, and Eden Park Country Gardens.
Poll Arena International maintains that its review is based on complaints submitted by investors and that any allegations should be independently investigated and verified by the relevant authorities.
Cases involving alleged real estate fraud and investment disputes have continued to affect many Kenyans, with investors reporting losses amounting to billions of shillings over the years.
The Poll Arena survey: https://share.google/ZGvd5SD617L68DtEs
