Commercial buildings plan approvals hit four-year high

Money Markets

A construction site. Developers are ignoring market reports showing a slow uptake of commercial space. PHOTO | FILE 

By GEORGE NGIGI, gngigi@ke.nationmedia.com

In Summary

• Plans to develop commercial buildings worth Sh13.7 billion were approved in the month of ...October up from Sh10.3 billion a month earlier.
• The spike in value of planned commercial developments pushed the real estate plans for Nairobi to a three-year high of Sh29.2 billion.
• Increase in plan approvals gives hope to a real estate sector whose other indicators are pointing to a grim future