The Construction Industry in Kenya 2017
LONDON, July 17, 2017 /PRNewswire/ -- The Construction Industry in Kenya: Infrastructure development is a central pillar of Kenya's Vision 2030 and in 2015 the US$3bn construction sector contributed 4.8% to the Kenyan economy. The Economic Survey 2016 published by the Kenyan National Bureau of Statistics (KNBS) reported that approximately 148,000 people are formally employed in the domestic building and construction industry. Players operating in the sector range from indigenous micro-enterprises to foreign multinational civil engineering and construction giants. Although building and construction contractors are required to be registered with the National Construction Authority (NCA), a significant number of unregistered contractors operate in the informal sector.
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A Sector with Promise : Currently 11 of the 43 major infrastructure projects in East Africa are in Kenya. These mega-projects include the US$3.8bn Mombasa - Nairobi Railway Project, the US$2.1bn Tatu City Project, the US$1bn Lamu Port Berths Project and the US$900m Lake Turkana Wind Power Project. Demand for housing continues to grow with role players estimating that more than 210,000 new residential units need to be built annually to keep pace with Kenya's expanding population. With crude oil production in the Great Rift Valley set to commence in the first half of 2017, many analysts predict that the country is on the cusp of an unprecedented construction boom.
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