Nairobi has been ranked as the cheapest city for construction out of 43 major cities around the world in a survey done by Turner & Townsend PLC, a construction and project management consultancy firm. Even though the cost of land might be high in the city, the report shows that Nairobi is the most favorable place for investors to come and grow their presence in the East African region.
Nairobi has grown so much over the years that it has caught the attention of the global community as among one of the fastest modernizing cities. This has caused the city to start transforming into a hub for global corporations. Henceforth, some global firms have moved into the country, with more still eyeing to move in as well.
Bechtel Corporation, for instance, which is one of the largest private owned American companies announced it would be opening its offices in the city. As more firms keep moving into the city, more buildings are constructed to foster these new organizations leading to a reduction in construction costs.
New York City, the report says, is the most expensive place in the world to put up a building, while in Africa Kigali takes the top spot. In Africa only five cities were involved in the report, including Kigali, Nairobi, Dar es Salaam, Johannesburg and Kampala. Other than Nairobi, Dar es Salaam was also among the cheapest cities to build in while Kampala was the opposite as it was the second most expensive city for construction.
The report was done by assessing the average cost of constructing six different buildings; apartment high-rise; office block prestige; large warehouse distribution centre; general hospital; primary and secondary school and shopping centre including mall.
Being the cheapest city in terms of construction helps put Nairobi on the map, it attracts more investors into the country thus boosting the economy. This will be helpful, as the country will have a chance of reducing the ever-growing rate of unemployment, especially among the youth.
