Surveyors protest Orengo remark

The Institution of Surveyors of Kenya has defended the profession against an allegation by Lands Minister James Orengo that its members were “unreliable”.

The statement, said to have been made before the Cockar Commission was in reference to the different values given to Grand Regency Hotel by valuers who had testified at the commission.
They valued the hotel at a lower amount than what it was sold for.

However, on cross examination by Mr Waweru Gatonye, the Central Bank of Kenya lawyer last Friday, Mr Orengo maintained that the hotel was worth more than Sh4 billion.

The Chief Government Valuer put the valuation at Sh2 billion for purposes of stamp duty last June while Lloyd Masika valued the property at Sh1.754 billion in January.

In February, Value Zone filed a value of Sh1.62 billion on the same property. In reference to the contradicting figures the minister told the commission: “Kenyan valuers are not reliable in most cases.”

Demanding

ISK is now demanding an immediate apology by the minister and a withdrawal of the disparaging remarks.

The valuers led by their chairman, Mwenda Makathimo, disclosed that they were yet to receive any official complaint regarding any valuation of the hotel. Each valuation was based on the client’s instructions and a single property could have many valuations.

The institute also wondered why the minister had not deregistered the valuers given that his office is the country’s custodian of the valuers register.

“We would not wish to have our profession drawn into political circuses. Impartiality and objectivity remain our core guiding values,” said Mr Makathimo.

To pacify the institute, ISK requested the commission to expunge Mr Orengo’s remarks and any other unqualified remarks from its records.