Market News

Housing tops Sh53bn Nairobi building project applications

A residential estate in Nairobi. FILE PHOTO | FILE
A residential estate in Nairobi. FILE PHOTO | FILE 

Residential houses dominated the Sh53.5 billion building plans requests filed at City Hall for approval in the first six months of 2017.

A Kenya Property Developers Association review shows 74.21 per cent of the 1,140 applications came from private residential house developers.

Commercial class buildings took 5.44 per cent while public class that mostly comprises religious and social hall projects took nine per cent with industrial class taking 10.4 per cent.

A mixed-use development project by Rossyln Properties valued at Sh5.4 billion was the most expensive project approved. Some 868 of the building plans approved were residential properties valued at between Sh1 million to Sh50 million.