Want to reap big? Try housing

The housing deficit in Kenya stands at 2.5 million in 2015 and continues to grow at a rate of over 200,000 units a year. This is a sector that will attract the attention of investors at the Global Entrepreneurial Summit.

There is a proliferation of informal settlements in urban areas, with 60 per cent of the population living in slums. Currently, Kenya’s annual housing requirements stand at an estimated 300,000 units. The country’s State-run National Housing Corporation estimates the current urban housing needs at 150,000 units per year to cater for the backlog. However, it is calculated that the current production of new housing in urban areas is only about 30,000 units annually, a shortfall of 80 per cent.