World Business News

Kenyan developers are now focusing on the markets in the county regions to construct shopping malls; this is according to analysts and realtors.

The analysts argue that the urban areas especially Nairobi has now been filled with so many shopping centres which target the middle class market.

During the 2016 East Africa Property Investment Summit (EAPIS), Britam Asset Manager Chief Economist, Mr. Kenneth Kaniu confirmed the reports and said that apart from the Two Rivers Mall which is scheduled for opening sometime this year, there will be no more space for retails in Nairobi.

Mega gas plant in Tanzania

Tanzania’s Minister for Energy and Minerals, Professor Sospeter Muhongo has revealed that the government intends to invest at least 30 billion USD towards the construction of a mega gas plant in Tanzania in Lindi area.

The minister said the government has already embarked on the Mega gas plant in Tanzania and that residents of Lindi and the entire Tanzania fraternity should expect an economic change in the next few years. The minister was speaking when he officially launched the Nanenane exhibitions at Ngongo grounds in Lindi municipality.

The Nairobi southern bypass in Kenya that has been under construction for a year is nearing completion with the road accessible from the junction of Mombasa road interchange at Ole Sereni all the way to Kabete-Limuru road at Kikuyu town.

According to Kenya National Highways Authority (KeNHA) officials currently the contractor finalizing the project with the erection of all the wall barriers along the bypass adjacent to Kibera area.

Other final touches undertaken in finalising the Nairobi southern bypass is landscaping to beautify the entire section before it can be launched formally – although it is already in use.

KeNHA added that it is highly anticipated that the project will be completed on time.

A report has revealed that 2,400 new hotel rooms will open in Abu Dhabi throughout 2016.

According to the Abu Dhabi Hotel Market Summary report by JLL, 200 rooms opened in Q2 2016 with the soft opening of the Four Seasons on Al Maryah Island in May, and an additional 2,200 rooms are forecast to be added to the market by the end of the year.

It is predicted that hotel room supply in Abu Dhabi is “expected to reach almost 26,000 rooms by the end of 2019”.