Construction cost rises on reduced supply of materials
Click here to read full article from source
Nairobi, Feb. 20 -- The cost of construction rose last year, due to the high prices of input materials on the back of higher inflation and the global supply chain disruptions from the Russia-Ukraine war.
An Integrum Construction Project Managers' Report showed that construction costs ranged between Sh34,650 to Sh77,500 per square metre last year.
This was up from between Sh33,450 to Sh72,400 per square metre in 2021.
The type of property and quality of materials are among the key determinants of construction costs, with luxurious and larger houses requiring more capital to build.
"The construction costs in Kenya averaged from Sh34,650 to Sh77,500 per square metre equivalent to Sh3,219 to Sh7,200 per square foot," the report reads.
To read the full article or to get the complete feed from this publication, please Contact Us