The Kenya’s construction industry is anticipated to grow at a very fast rate hence outperforming all other Sub-Saharan countries for the next 10 years; this is according to a study by BMI Research.
The growth is evident due to the fact that the government is spending massively on infrastructure projects like the mega standard gauge railway and the Lamu port alongside foreign investment flow.
Also read: African Development Bank boosts proposed Lamu port in Kenya
The research further states that the market is for instance, expected to grow by 8.7 per cent in 2017 and remain steady up until 2026 with an annual growth of 6.2 per cent.
This is a good show that will enable the country to continue to improve its logistics profile as well as support commercial development, which will in turn boost growing businesses and retail activity in several parts of the country.
Also read; Kenya allocates US $ 97.1 million for Lamu port project
Kenya’s capital, Nairobi still remains a hotspot in eastern Africa for investment opportunities as the growing real estate sector, particularly the development of hotel and retail businesses as investors capitalise on the growing opportunities.
Stable growth in the transport and power infrastructure and commercial construction has also been experienced and will provide key investment opportunities in the country. Furthermore, direct flights from Nairobi to the United States of America were made possible recently and this will help make the market more accessible and attractive.
BMI Research is a research firm that provides macroeconomic, industry and financial market analysis, covering 24 industries and 200 global markets. With offices in London, New York, Singapore, Hong Kong, Dubai, South Africa and Japan, BMI Research is part of Fitch Group, which is majority owned by Hearst.
Extract from constructionreviewonline.com