ESTIMATED COST OF CONSTRUCTION IN KENYA-FLATS.
To get the estimated cost of construction for flats in Kenya, we will first need to identify the target market.
The target market is divided into 3 classes
1. High income earners
2. Middle income earners
3. Low income earners.
High income earners:
Projects in this range are located in areas such as Hurlingham, Kileleshwa e.t.c
The land location must be in a very prime area, near a tarmac road and in close proximity to CBD.
Construction cost is estimated at a minimum of KES 35,000 per square meter.
The house size is mainly 2 ,3 and 4 bedroomed, with a minimum size of 100 m2.
The two bedroomed unit will cost approximately KES 3.5m to construct.
Middle income earners:
Projects targeting this range are located in areas such as Umoja, Kitengela, Ngong, Kikuyu, Ruiru. Generally, the areas are located around 25 to 40 km from CBD and are in close proximity to tarmac roads.
The house size is mainly 1 and 2 bedroomed with a floor plinth area of approximately 35m2 for the 1 bedroomed and 60m2 for the 2 bedroomed.
The average construction cost per square meter for this type is KES 25,000.
The 2 bedroomed unit will cost approximately KES 1.5m to construct.
Low Income earners:
Projects targeting this category of people are located in Kayole, Ruai, and in most towns at a distance of over 1 km from the main tarmac road.
The house type is mainly single and double rooms, self contained or sharing a communal bathroom facility.
The construction cost is approximately KES 20,000 per square meter.
A double room of 25 m2 will cost KES 500,000 to construct.
CONSTRUCTION COST ESTIMATES BREAKDOWN
The construction cost estimates include labor, materials and professional fees.
The actual cost of construction is derived from the actual agreement that the land owner has with a building contractor. This amount varies from contractor to contractor depending on several factors.
Professional fees are constant and are set by the Kenyan Laws.
Chapter 525 of the laws of Kenya guide Architectural and Quantity Surveying Services.
Chapter 530 of the Laws of Kenya guide Structural, Civil, Mechanical and Electrical services.
Architectural fees are charged at 6% of the total cost of construction.
Quantity Surveying fees are at 3% of the total cost of construction.
Engineering fees vary between 1.5% to 3% depending on the complexity of involvement.
6 units on 0.5 acre plot in Kiambaa, Kiambu county.
The best target for this region is the Middle income earning class.
Therefore, the 6 units will cost 6 units x 60m2 x KES 25,000=KES 9,000,000.00.
The Architectural fees for full service from design until construction supervision to completion will be 6% x KES 9,000,000=KES 540,000.