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Why there is a boon in real estate amid tough economic conditions

An artwork of houses to be constructed at Buxton estate in Mombasa. [Omondi Onyango, Standard]

Just a drive or a stroll around the city, or in the satellite areas in the metropolitan, you will always meet several construction sites. Some are apartments like in the case of Kilimani and Parklands, or warehouses as witnessed around industrial area and Mombasa Road.

Such excavations are happening while the economic conditions are not as friendly - occasioned by high interest rates, inflation and rising cost of commodities. Such begs the question: where is this money coming from and why this rapid boon?

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