Lower cost of building materials, real estate investors urge state

Real estate investors have asked the government to lower the cost of building materials to boost the need of affordable housing.

They have also asked the government to come up with a strategy of consolidating all the approvals a developer needs, to ease their work.

Miran Residence chairman Peter Gichangi says approvals such as from Nema, civil engineer and the county are all government arms.

He also said if taxation on building materials will be reduced, the end product will be affordable, making it easier for house buyers and those renting.

Gichangi spoke on Friday at Ruaka in Kiambu county when Safaricom Investment Co-operative held a ground breaking to start construction of a real estate worth Sh750 million.

The project dubbed The Miran Residence will  be on a three-acre land near Nairobi Ruaka Bypass.

The project will comprise of 450 units made up of apartments selling between Sh2.75 million to Sh5.9 million. 

Gichangi was accompanied by Safaricom Investment Co-operative CEO Sarah Wahogo and investors as well as partners.

Wahogo said this is the third project they are undertaking in Kiambu county owing to its proximity to the capital city, Nairobi.

Gichangi urged the government to support real estate developers, by improving roads near the city, piped water and sewer lines.

"The government has done a great job of improving access roads in estates and areas near the city, even if they are in the interior," he said.

"However, we are pushing them to keep tarmacking them so as to attract investors." 

(Edited by Bilha Makokha)