10/07/2017 – News / Construction / Kenya / East Africa / The Big 5 Construct East Africa
East Africa’s building boom calls investors to Kenya
Economic growth of six per cent annually makes Kenya the beating heart of the East African construction powerhouse, according to a new industry report – commissioned by The Big 5 Construct East Africa.
This gateway nation is one of the most forward thinking in East Africa with the International Development Association helping to fund over 30 projects worth an estimated US$6 billion. A deal at work between the country and the World Bank to afford a US$150 million renewable energy project is also underway.
Kenya is construction’s regional king
According to the new report – entitled ‘East Africa’s Building Boom’ – Kenya dominates East Africa’s top 10 construction projects with major projects such as the US$3.8bn Mombasa-Nairobi Railway and the US$2.1bn Tatu City Project, which will house more than 150,000 people once completed.
With only some 25 per cent of the 46 million population living in urban areas, companies that can offer fast and cost-effective housing construction methods could find themselves in demand to meet the nation’s significant shortfall.
Having both sea and air access further accommodates escalating international interest, making Kenya the perfect spot for The Big 5 Construct East Africa. Running from 1-3 November at Kenyatta International Conference Centre, the event is the official exhibition of Kenya’s National Construction Week, and is co-located with the third annual National Construction Authority’s (NCA) Construction Research Conference and Exhibition (ACoRCE).
Expanding East African opportunities
The expanding variety of opportunities across other East African nations are also covered in the report, clearly defining a direction towards urbanisation in the region as a whole, and the key role of the construction sector in driving this growth.
Ethiopia is fulfilling its second Growth and Transformation Plan (GTP II), which is feeding momentum to the country’s fastest growing economic status, with Ethiopia having averaged 10.8-per-cent growth per annum over the past decade.
Mozambique focuses on transport sector builds accumulating a value somewhere close to US$2bn including roads, bridges, ports and rail projects. In keeping with the region’s focus on urbanisation, the government of Mozambique has committed to building 35,000 affordable houses by 2019.
Tanzania is working to facilitate future growth by producing and distributing reliable power sources to newly built areas. Sights are also set on developing a new rail link to Rwanda worth an expected US$1.1bn. According to Tanzania’s National Housing Corporation, the worth of real estate projects in the country is expected to reach US$800m by 2020.
Rwanda’s development of the Bugesera International Airport will lead to multiple opportunities, with a project cost estimated at US$35 million and expectations to welcome 1.7 million visitors to the country. The government in Rwanda has also said it will roll out a US$250m affordable housing development fund.
The Big 5 Construct East Africa
An impressive 6,355 visitors from 40 countries and 188 exhibiting brands arrived at the inaugural opening of The Big 5 Construct East Africa last year, making it the central meeting place for global manufacturers of construction products to network and do business in Kenya and the broader East African region.
Portfolio exhibitions director, Andy Pert, promises that the 2017 event is set to grow its visitors by 15 per cent and the number of international, and regional exhibitors by 20 per cent versus the launch edition.
Expecting over 200 exhibiting brands from around the world, The Big 5 Construct East Africa 2017 will also offer 25 CPD (Continued Professional Development) certified complimentary workshops delivered by industry experts, taking place in an additional theatre due to the high attendance expected and focusing on an overarching theme of construction technology and development.
Other features of the show include matchmaking, live product demonstrations, and a gala dinner where exhibitors will network with key participants of the ACoRCE conference.
To read the full report, visit: https://forms.thebig5constructeastafrica.com/Default.aspx?id=866
For more information on the upcoming event, visit: www.thebig5constructeastafrica.com