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In his budget statement recently, Treasury Cabinet Secretary Henry Rotich announced that the government would reduce corporate tax from 30 per cent to 20 per cent for developers who construct at least 1,000 units. The minister noted that the construction industry grew by 13.6 per cent while the real estate sector grew by 6.2 per cent, both being above the average national economic growth.
Some stakeholders are questioning possibility of a single investor putting up 1,000 units in a year.
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