Signs that price movement, which appear to be driven by underlying demand with little evidence of speculative activity, are instilling confidence in South Africa’s property sector. Despite a sluggish local economy, residential and commercial prices are appreciating at a pace higher than GDP but are comfortably on par with lending rates, while financing for the sector has...
South Africa’s contractors, who comprise one of the continent’s more robust and largest construction sectors, have had to navigate a challenging few years. While significant infrastructure spending has been planned for the medium term, order books, while busy, have yet to provide the dramatic rebound that has been hoped for. “After the 2010 World Cup, the industry has...
The National Development Plan (NDP) provides the underlying blueprint for socio-economic development until 2030. It sets out the aim of achieving an annual growth rate of 5.4%, which the government projects as necessary to eradicate the triple challenges of unemployment, poverty and inequality.
Prior to the 2009 National Land Policy (NLP), Kenya’s real estate sector had been governed by complex and often incompatible administrative mandates. A consequence of the 2004 UN-HABITAT reform initiative, the 2009 NLP is the government’s first attempt to streamline national laws. It is also the first policy to provide a single and clearly defined national land policy...
Kenya has a fragmented domestic construction industry, mainly populated by small and medium-sized contractors who may not always have the capacities and capabilities required for large infrastructure projects. As a result, foreign contractors have long played a sizeable role. In East Africa, European and US contractors make up roughly half of the market in terms of...
Following several years of sustained growth, the outlook for Kenya’s construction sector remains positive as the industry benefits from the elevated levels of public spending outlined in the Vision 2030 development strategy. With a host of infrastructure projects planned, as well as increased housing demand, contractors are set to profit from a continuation of the robust...
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