Nairobi Building Approvals in Rebound as Calm Returns

Nairobi's construction sector registered a 71 per cent rebound with Sh60.1 billion projects approved this year compared to Sh35 billion August to December 2017 approvals.

The latest economic indicators released by the Kenya National Bureau of Statistics (KNBS) that captures the first three months shows investors specifically sought to inject Sh36.85 billion into residential developments compared to Sh23.55 billion during the August (election month) to December in 2017.

While investments in residential developments could indicate a scramble by investors out to cash in on the 200,000 annual housing deficit gap in Nairobi, KNBS observed that non-residential development registered Sh23.25 billion injection being an 11.56 per cent rise over last year's Sh11.66 billion.

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