info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Image from Construction Global
At present, the construction industry in Kenya is booming. According to the Kenya National Bureau of Statistics, the real estate and construction industries have remained the main driver of Kenya's economic growth for the past five years. The Kenyan construction industry contributes 7% of gross domestic product (GDP).
Extensive opportunities for investment exists particularly in the area of upgrading slums and informal settlements, urban renewal, construction of middle and low income housing, and the manufacture and supply of building materials and components.
A recent study shows that the local construction industry will grow by 8.7 per cent this year and remain steady up until 2026 with an annual growth of 6.2 per cent – which will see Kenya outperforming all Sub-Saharan countries.
Kenya's construction market is poised for significant expansion between 2018 and 2026. Significant support for the sector will stem from the Kenyan budget, backed by foreign investment into the country's planned infrastructure development.
The global market for green cement is expected to grow to US$38.1 billion by 2024 from US$14.8 billion in 2015.Green cement reduces the carbon footprint of construction activities through the substitution of cementitious industrial wastes, such as fly ash from coal-fired power plants and slag from the steel and iron processing industry, as a replacement for traditional cement.
Demand for green cement in Africa will provide an increasingly lucrative market over the next few years due to growing trends in sustainability and energy efficiency for both buildings and infrastructure.
