Banda Homes Home Buyers Stare At Ksh4 Billion Loss After Company Failed To Deliver

Kenyans who bought homes from Banda Homes could lose up to Ksh3.9 billion they paid two years ago, after construction of the said homes stalled.

Reports by Citizen TV indicate that the houses remain incomplete two years after project started, with the developer, Andrew Kamau, blaming the failure on Covid-19 pandemic.

The buyers bought the houses in Oak Park Estate, Rosewood Estate and Pinewood Estate, all along Kenyatta Road off Thika Superhighway. Each paid at least Ksh3.9 million for the 1000 units in the estates.

More than two years since the company started the projects, not even a single house has been handed over to the owner, with most structures lying incomplete with no signs of completion any time soon.

“I bought a house through Banda Homes in 2018, and I completed my payments as agreed and the delivery date was last year in April or May but the house is far from being complete,” says Anthony Kariuki, one of the home buyers.

Read: Banda Homes In Land Row With Kenyatta Family

The case is similar for Rosewood Estate developed by Banda homes, where investors were promised 92 units of 3 bedroom all en-suite bungalows costing over Ksh4 million, but none of the units have been delivered so far.

“It is true that we have experienced delays because of various reasons (among them being) late payments from clients. We also underestimated the amount of work that we were going to put into those projects. We are actually pushing all our projects on the remaining works by a further six to eight months,” said Banda Homes founder Andrew Kamau.

The company also blames Covid-19 pandemic, but the deadline of most projects fell before the outbreak of the pandemic.

The clients also out-ruled possibilities of delayed payments, saying that they had all paid what is required.

The same allegations arose in February 2019, but they were somehow downplayed and investors silenced.

Reports then indicated that  the firm has re-branded at least two times since 2011, during which it has acquired new names to avoid being followed by clients after allegedly failing to deliver on projects.

Read: Secure Homes Yet To Submit Crucial Documents In Its Bid To Set Up Resort In Ngong Forest

Banda Homes had also been involved in a tussle with Kathleen Kihanya, a member of the Kenyatta family, over ownership of the prime land on which the developer hoped to put up a Ksh1 billion estate for sale. Kihanya, President Uhuru Kenyatta’s cousin, claimed Banda Homes had misled potential buyers on the land, a claim the investors disputed. This could also be the reason th

“This land belongs to my family and we are now in the process of subdivision and issuing separate titles. Banda purports to have an agreement to buy part of this land, which is not possible because there is no title. They have erected a sale sign on the land and they are collecting deposits from people. My family had no idea,” she told a local newspaper.

Banda Homes director Paul Nderitu however rubbished the claims, saying that they bought the land from Kihanya’s cousin after the court ruled that the land be subdivided between Kihanya’s mother and her sister Beth Ngonyo, the cousin’s mother.

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