Housing deals fall Sh69bn on City Hall permits hitch

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Housing deals fall Sh69bn on City Hall permits hitch
Housing deals fall Sh69bn on City Hall permits hitch

The permit issuance hitch at City Hall has hit property developers as the value of approved housing projects shrunk by Sh69 billion in the 12 months to December.

Data released by the Architectural Association of Kenya (AAK) Tuesday showed that the value dropped to Sh141.27 billion last year.

The drop represents a 32.8 percent drop from the Sh210 billion reported for 2018 by the Kenya National Bureau of Statics (KNBS).

“The delay in the processing of construction permits by the Nairobi City County Government negatively affects all persons in the construction value chain by prolonging project implementation timelines,” the architects said.

Speaking during the launch of build hub website in Nairobi, AAK President Mugure Njendu blamed delays on the suspension of City Hall’s technical planning committee and e-permit downtime in the second half of 2019.

Read the original story on Business Daily

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