Chinese contractors key to real estate development in Kenya


By UnreguserYang Zhen

NAIROBI, Sept. 30 (Xinhua) -- Chinese contractors have played a critical role in the development of the real estate sector in Kenya, an expert said on Wednesday.

Edwin Dande, CEO of the Nairobi-based Cytonn Investments told Xinhua that Chinese firms have made it possible for Kenya to construct high-density developments that affords locals a high-quality life.

"Chinese contractors have had a positive impact on real estate and so I see them as important partners for development in Kenya," Dande said.

The investment firm is currently undertaking a five billion shilling (46 million U.S. dollars) comprehensive mixed-use housing project that will be complete in mid-2021 and another 74 million dollar real estate project that will be completed in the next three years.

"In both projects, Chinese contractors won a competitive tender because they had the best price, execution and track record," Dande said.

He observed that builders from the Asian nation have performed exceptionally well in the Kenyan market because of their work ethic which enables them to deliver projects on time.

"Kenyans can really learn a lot from the Chinese on how to build world-class infrastructure projects," he added.

According to the investment firm, Chinese contractors have gained valuable experience in constructing high-quality infrastructure in their home country and are able to transfer their technology to their Kenyan counterparts.

Dande observed that the entry of Chinese players in the real estate sector has coincided with high-rise buildings in urban centers that have played a role in easing the housing shortage in the country.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Next In World

How world leaders are reacting to Joe Biden's inauguration
U.S. dollar ticks down
WTI crude futures settle higher
Portugal's COVID-19 cases hit record, health service pushed to limit
Amazon offers to help U.S. with vaccine efforts in letter to President Biden
Italy PM wins backing for deficit hike after surviving coalition ambush
U.S. President Joe Biden's inaugural address
Pope urges U.S. reconciliation as bishops call out Biden on abortion
Gold up on U.S. stimulus expectations
France reports 26,784 new COVID-19 cases, highest since Nov. 18

Stories You'll Enjoy