There has been thievery that has been condoned by investors of Banda Homes limited. At least where you sit, you must have heard cries of several investors who paid millions to this controversial company several years ago and their homes have not gone beyond the laying of foundation.
The investors are now crying foul as the houses they bought are yet to be completed long past promised completion date and there’s no reasonable explanation by the sellers. No progress beyond laying of foundation has been witnessed years after paying sh3.9 million. Most targeted are Kenyans living in the diaspora.
Banda homes is an offplan developer, they sell off houses at design stage, receive deposit and builds them as monthly instalment are paid during construction. In other words, offplan house purchase means that you are loaning someone money to build and sell the home back to you at a profit in their favor.
What annoys investors most is that anytime they raised the matter with Banda homes owner Andrew Kamau, he comes out tounges blazing with lots of fabrications and unending lies.
Going by the company’s arguments, it’s true that the investors of Banda home limited, a company that started out as Dinara developers around 2011, then Lettas developers around 2013, then Banda homes in 2018, and now partly existing as Nyumbani Concepts limited as at July 2019, have been and are still being duped.
The directors in this company have mastered the art of rebranding each time after soiling their reputation of not delivering on their projects through mismanagement of funds. It is on this account that a recent visit to the site by Citizen TV journalists and part of the buyers aired on Citizen TV, showed bushy areas in the places where the already paid for homes were to be erected.
There is no way Banda homes could claim that the homes that were paid for in full in early 2018 in whichever phase has not been completed or even passed the foundation level. The sites of these homes that were paid for in 2018 have been occupied by bushes. No sign of construction is ongoing.
Banda homes limited still have the audacity to shamelessly refer to investors who invested with them in 2018 as agitated home buyers, how inhuman can some people be?
Why is Banda Homes founder and owner Andrew Kamau hiding in some blogs to blame the investors yet it’s over two years down the line?
Defending himself over the scam, they released a statement to hoodwink more investirs. “This meeting was meant to allow clients confirm their satisfaction with works in their particular units. We were, however, ambushed by agitated clients from phase 2 who came with a media crew from Citizen TV. Their main course of agitation was the fact that they do not want anyone to occupy the units until the whole estate is complete. As much as we had phase 1 clients in support, we could not hold the meeting as we felt it was the wrong time. We, however, did an interview with the TV crew in our office to clarify on the various issues raised,” the shameless Andrew Kamau said in a statement.
Banda Homes is known for not paying promptly for land they acquire. They pay substantial amount of money at the onset but want to put up buildings before they clear the balance.
Over 90% of projects that started way back in 2011 are yet to be completed but surprisingly tens of hundreds of their clients are still transacting with them as they are unaware of these fraudulent deals.
Citizen TV visited the site of unfinished homes to verify the claims made by tens of hundreds who had invested with Banda homes and their houses had no progress.
There is no point of Andrew Kamau the Banda homes owner and founder to blame any investor over their own undoings.
“What you didn’t see on TV is that all these projects are in 2 phases and in each of them, there are phases that are ready for occupation.These stories are malicious and meant to ruin the name of Banda Homes,” Andrew Kamau has been circulated this narrative on social media through his proxies.
Banda homes owner Andrew Kamau want investors to complete their payments even when their houses have not gone beyond foundation.
Andrew now blame his customers that they have not even cleared their payments. “Most clients have not finished their payments and yet off plan depends in client payments for building. Many of those in phase 2 have not finished their payments, with most of them admitting that they are unable to continue due to the hard economic times,” Andrew claims.
To dupe more clients, the company claims it has completed over six projects and handed them over to the owners, hence there is no need for panic among home buyers but cannot substantiate this claim.
Listen to how the investors are crying foul.