Building industry “Aiming Higher”

Last Updated 13 years ago by Kenya Engineer

By Daisy Gakuu

The 17th Homes Expo themed “Aiming Higher” opened yesterday and will run for four days (May 23-26, 2013). The Expo which is being held at the Kenya International Conference Center (KICC) links buyers, developers and industry players giving them an opportunity to revitalize the housing sector which has suffered especially from the first quarter of this year following the Election period.

This Edition shows a growth in the Kenya Home Expo with an increase in the number of exhibitors, featuring repeat exhibitors, those making debuts and even international investors like Gao YU International Company Limited from China.

The Exhibition is sponsored by East Africa Portland Company, Standard Chartered Bank, Hot Point Appliances and Wananchi Group Limited (Zuku). Other Companies that are showcasing in the event include;Kenya Engineer, Permagon Group, Tuskys, Kenya Interiors, National Bank of Kenya, CFC Life, Solimpex and Powergen amongst others.

This event was graced by the Governor of Nairobi, Dr. Evans Kidero as the guest speaker who is vital in playing part in the development of this sector especially in the capital Nairobi where he is Governor.

Speaking at the opening of the event, Mr. Daniel Ojijo (the Organizer of the Exhibition and Executive Chairman at Mentor Holdings), pointed that the theme suited the purpose.

“The local housing market faces myriad challenges among them the yawning deficit which currently stands at an annual demand of 250,000 housing units against the supply of a paltry 60,000,” he said. “Localizing housing solutions will help narrow the gap between supply and demand at the counties thus contributing in bridging the yawning national deficit.”

Citing analysis from the World Bank and Central Bank of Kenya, he noted that less than one in every 10 Kenyans living in urban areas can afford a mortgage whereas rural incomes are too low to even consider.

“A pledge to pursue a policy of lowering mortgage rates and borrowing from similar models in other countries will have a direct impact on the mortgage rates will in turn make mortgages affordable to many-resulting in increased home ownership in the country,” said Mr. Ojijo.

In addition, Hon. Evans Kidero spoke about projects that are underway and those yet to come to facilitate better housing in Nairobi.  He also mentioned the issue of land and development.“Lands are allotted with the condition of developing land within 18-24 months,” said Dr. Kidero

He warned that failure to comply with the condition, the land would be taken and given to those interested in developing it. With regards to the renewal of leases, he said that the county government would do its part in ensuring that unless value has been added on that land, there’ll be no automatic renewal.

The Governor stated that fixing the issue on delays of approval was underway pointing that the speed of approval would be increased to a month at the most. The approval will be digitally made and delivered to the developers hence speeding up the process.
Viewing the same set approval fee for all areas in the County as unfair, he said that  that would be rectified by revising those terms based on the location of the land (high or low cost areas) and the cost of construction.

“By the end of the year, the whole of the CBD will be covered by Surveillance cameras,” said Dr. Kidero. This was to support his statement that security plays a part in the building sector.

The Governor also expressed interest to promote a pleasant shopping experience in shopping malls disregarding parking charges that come with shopping. “The approval of construction of such facilities is conditional to providing adequate parking space,” he said.