The legislator raised the matter in Parliament on Wednesday, November 11, 2026, seeking the intervention of the Departmental Committee on Housing, Urban Planning and Public Works over the fate of buyers who invested in the proposed Terrace Apartments along Hatheru Road.
According to Owino, the affected Kenyans purchased houses through an off-plan arrangement between 2016 and 2018, expecting the developer to complete the project. However, construction reportedly stalled before the apartments could be handed over to the buyers.
The situation reportedly worsened after a bank auctioned the property following a loan default associated with the development.
Owino told Parliament that only five out of the 110 investors had reportedly received refunds from the management company, leaving the remaining purchasers uncertain about recovering their money.
The MP wants the Housing Committee to establish the identity of the developer, determine the approvals issued for the project and explain why construction was abandoned.
He has also demanded an account of the money collected from buyers, including how much was raised, how the funds were spent and the total amount refunded so far.
Another issue he wants investigated is how the property was used as security for a bank loan and whether investors were informed about the arrangement before the auction took place.
Owino further wants the committee to disclose whether investigations have been launched into the alleged misuse of purchasers' funds and what steps are being taken to help the affected families recover their investments.
The legislator argued that the incident raises serious questions about consumer protection and the regulation of private housing developments.
He also called for stronger safeguards for Kenyans purchasing homes before construction is completed, warning that abandoned projects and property auctions could undermine confidence in the country's real estate industry.
"Kenyans who invest their hard-earned money in housing projects deserve protection," Owino said.
The parliamentary intervention now puts the Terrace Apartments dispute before the Housing Committee, with affected investors awaiting answers about the fate of their money.
https://peopledaily.digital/inside-politics/babu-owino-raises-alarm-over-110-kenyans-at-risk-of-losing-investments-in-lavington-housing-project
Leave a Reply