Housing has risen to the top of the policy agenda in Egypt, and for good reason. According to Jones Lang LaSalle (JLL), the country has the largest deficit in the MENA region, with a requirement for 1.5m new units, an affordability gap and under-funding of the sector. According to Marja Hoek-Smit, director of the International Housing Finance...
The government’s push to stimulate the economy after a turbulent post-revolutionary period is good news for Egypt’s construction sector. Dozens of planned mega-projects and public works initiatives mean that the contracting industry is facing a sizeable project pipeline across all segments of the market. Large-scale plans for a new capital...
The real estate market in Kenya remains attractive for investors, with the average property price in Nairobi rising more than fivefold in the 2007-14 period, from KSh30m ($330,000) per acre to KSh170m ($1.9m) at the end of 2014, according to HassConsult, a local real estate agency. In a positive sign for longer-term sustainability, indicators...
Increased competition in Kenya’s construction market is leading to notable improvements in quality standards, but persistent challenges remain, and there is a great need for increased regulatory support and more rigorous enforcement.
Growth in the Kenyan construction sector – driven by major infrastructure projects such as the Nairobi-Mombasa railway and a push to expand housing supply – reached 13.1% year-on-year (y-o-y) in 2014, more than double the 2013 figures. Construction accounted for 4.8% of GDP in 2014, according to the “Economic Survey 2015” from the Kenya...
Following on from decades of positive gains, Kenya’s construction sector continues to see robust growth and remains a central component of the country’s immediate and longer-term economic growth agenda. The industry’s GDP contribution in 2014 totalled KSh259.6bn ($2.86bn), up 13.1% on 2013, according to the Kenya National Bureau of Statistics...
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