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Government formally lifts renewal of land leases unlocking commercial activities

http://bdafrica.com
The government has formally lifted renewal of leases unlocking commercial activities associated with land development.
Lands Cabinet Secretary Professor Jacob Kaimenyi said landowners, banks as well as real estate companies should activate all stalled land transactions to realise proceeds from sale, transfer and subdivision of land.
“The suspension of leasehold renewals had adversely affected banks holding leasehold certificates whose tenure had expired. Some families had been deprived off land by unscrupulous dealers who connived with some land officials to alter land records,” he said.
Professor Kaimenyi said landowners enjoy pre-emptive rights on applying for renewal, “provided they will show evidence on usage of land for economical purposes. Let large land owners know that renewals will consider why one needs the renewal as the planned usage must benefit Kenya’s economy.”
The move seeks to release idle land for development purposes as well as enabling the government establish a land bank that could be allocated to local and foreign investors for various commercial purposes.

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