Market News

Budget estimates tabled in Parliament show that Sh8 billion has been allocated for the affordable units in the year starting July. Treasury has doubled the allocation for construction of affordable houses as the State races against time to deliver the low-cost units in President Uhuru Kenyatta� . . .

The Kenya National Highways Authority (Kenha) has begun construction of the US $42.1m new Makupa bridge in Mombasa. The 457m long bridge will replace the historic Makupa causeway that links Mombasa Island to the mainland. Kenha awarded China Communications Construction Company (CCCC) the contra . . .

Kenya National Highway Authority (KeNHA) have signed a major deal of 17.9 billion shillings (about 166 million U.S. dollars) with a Chinese Construction firm. The partnership is to construct a 453-km road that is part of the Lamu Port-South Sudan-Ethiopia Transport (LAPSSET) corridor project.The roa . . .

Kenya's construction industry is currently booming. The Kenyan government has invested heavily in the construction sector in order to upgrade infrastructure such as road networks while also providing new residences for locals (who are supported by banks in obtaining loans to buy apartments/cars).&nb . . .

A joint venture between VINCI Highways Unit Rift Valley Highway, VINCI Concessions and Meridiam SAS has signed an agreement for the construction of approximately €1.3 billion of the Nairobi-Nakuru-Mau Summit Highway project in Kenya. The agreement, through its Public-Private Partnership Unit . . .