Kenya led the East African region in infrastructure deals struck in 2015, according to a new survey by financial consultancy firm Deloitte.
The African Constructions Trends Report shows that Kenya accounted for 20 of the regions 61 big-ticket projects followed by Ethiopia with 12 project.
The burgeoning middle class, coupled with the promise of high yields also whet investors’ appetite for retail, entertainment and lifestyle facilities in Kenya and Tanzania, resulting in investment in modern office parks and hotel space.
“Rapid urbanisation and influx of an expanding middle class continues to drive the need for infrastructural reform, expansion and upgrading,” said Mark Smith, Head of Infrastructure and Capital Projects, Deloitte East Africa.
Heavy consumer spending in Kenya has been linked to the rapid development of shopping malls in Kenya. Read more. Source | Citizen