Why the real estate bubble burst won’t happen soon

A section of office blocks in Upper Hill, Nairobi. [File, Standard]

Many areas in Nairobi look like giant construction sites, with cranes towering over the skyline. The city is a major driver of the real-estate sector, which has been growing steadily since the start of the century.

The real estate comprised 13.8 per cent of the country’s gross domestic product in 2016, up from 10.5 per cent in 2000, according to Kenya’s National Bureau of Statistics.