Press release
Public Spending And Private Investments Drive Kenyan Construction Industry Growth - ConsTrack360
Building construction sector has been recording robust growth across residential, commercial, industrial and institutional segments. This trend is expected to continue in subsequent years.
In line with trend observed in recent quarters, cement export is expected to decrease in 2017, as it is mostly consumed for domestic construction activities, particularly the multi-billion dollar infrastructure projects. New rail and road construction projects are driving the growth in infrastructure segment.
The positive outlook of the construction industry in Kenya could encourage more multinational firms to make Nairobi as their investment hub. Chinese investment in the country has been increasing strongly.
To further spur the growth in the industry, the Kenyan National Housing Corporation also invested over KES1 billion in several projects in major cities of the country in recent quarters. Moreover, the government's new norm exempting fees for services procured from regulatory agencies could also drive the growth in the industry.
Going forward, Kenya will approve the new projects through its online portal at City Hall offices, as per the new regulatory norms. This is expected to boost transparency and investor confidence.
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