Residential market boosts Nairobi building approvals
Nairobi, March 28 -- The value of buildings approved for construction in Nairobi last year increased by 33.6 percent to Sh217.04 billion in the 12 months to December compared to the previous year, on a resilient recovery in the residential housing market segment from Sh162.45 billion in 2022
The latest figures from the Kenya National Bureau of Statistics show that the value of approvals grew by Sh54.59 billion from Sh162.45 billion in 2022.
This growth was largely attributed to the residential buildings, which accounted for 82.9 percent of the approvals in 2023 from 78.4 percent in the year before.
Approvals for commercial buildings in Nairobi accounted for 17.1 percent in 2023 from 21.6 percent in the previous year. Commercial propert...
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