Dublin, Oct. 29, 2024 (GLOBE NEWSWIRE) -- The "Kenya Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)" report has been added to ResearchAndMarkets.com's offering.
Construction industry in Kenya to expand by 4.8% in real terms this year, supported by investments in the transport, renewable energy, and industrial sectors, coupled with a recovery in export activities.
According to the Kenya National Bureau of Statistics (KNBS), credit extended to the construction industry grew by 0.6% year-on-year (YoY) in Q1 2024, while the total value of exports rose by 12.5% YoY in the first five months of 2024. Growth in 2024 will also be supported by allocations made as part of the latest budget.
The financial year (FY) 2024-25 (July 2024 to June 2025) Budget includes an expenditure of KES3.9 trillion ($25.4 billion) in the current financial year; this expenditure represents a 5.4% increase from the expenditure allocated in the FY2023-24 Budget. The FY2024-25 Budget includes an allocation of KES193.4 billion ($1.3 billion) for infrastructure development and KES92.1 billion ($599.7 million) for housing construction and redevelopment.
Growth over the forecasted period will also be supported by investments in rail and airport infrastructure projects. In April 2024, the President of Kenya sought US funding for a new KES307.2 billion ($2 billion) international airport in Nairobi. The airport aims to enhance Nairobi's appeal to international travelers and relieve pressure on Jomo Kenyatta International Airport, which faces capacity and infrastructure challenges.
Additionally, in March 2024, Kenya has secured a KSH20 billion ($130.2 million) loan from the French government to upgrade and modernize the Nairobi Commuter Rail. The loan will fund improvements to the railway to alleviate city traffic congestion. The funds will be used for upgrading signaling, communication systems, train infrastructure, and automated level crossings. The project aims to enhance the city's transportation network by integrating it with an expanded central railway station.
Scope
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Kenya, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
- Identify and evaluate market opportunities using the analyst's standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using the analyst's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Latest news and developments
4 Project analytics
5 Construction Market Data
6 Risk Profile
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/66kbxj
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