Housing fastest growing infrastructure – KPRA
The Kenya Professional Realtors Association (KPRA) has identified housing as one of the fastest growing infrastructure sectors in the country.
The association executive director Peter Wairegi, projected a 20-30 percent growth for the sector in the next two years.
Wairegi however decried the high cost of construction material terming it as major handicap to many investors in the country.
“Another major challenge facing us is the high cost of financing various project and there is need to seek affordable financing mainly from banks,” said Wairegi.
He was speaking at the start of the inaugural Naivasha Business and Home Expo 2015 which is being held at the Buffalo mall.
Wairegi who is also expo chairman said that there was need to address professionalism in the sector adding that they were working with the National Construction Authority on the issue.
Nakuru governor Kinuthia Mbugua who was the chief guest challenged investors to come up with houses targeting middle income earners.
He said that the county was facing an acute shortage of houses adding that 10,000 housing units were required every year.
“We are constructing 2,000 housing units every year in this county meaning that we have a deficit of 8,000 units,” said the governor.
He praised the organizers of the expo which is the first of its kind in the county adding that his government would continue to offer incentives to investors.
“The approval for building plans will now be done in less than 30 days and we are in the process of formulating trade policies,” he said.
the governor assured investors that plans were under-way to supply Naivasha and Nakuru town with ample water for consumption and construction.
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