The value of building projects seeking permits in Nairobi more than doubled to Sh118 billion in the six months to December last year, as property developers rushed to take advantage of the rebounding economy that has increased demand for homes.
This helped double the application fees earned by the Nairobi Metropolitan Services (NMS) to Sh479.6 million, making it one of the fastest revenue streams for the city county.
Data from the National Construction Authority (NCA) compiled by the Architectural Association of Kenya (AAK) shows that the application fees increased from Sh215.9 million between July and December in 2020, to Sh479.6 million in a similar period last year.
However, the number of submissions dropped from 970 in the second half of 2020, to 638 in a similar period in the following year, indicating that the new buildings are high value.
July and December (2021) had the highest number of Building Plans submitted for consideration with a total of 471 applications being submitted. – Business Daily
