Real estate developers have breathed a sigh of relief following the drop in price of steel and steel-based products. Global prices of metal have been on the decline due to flagging of demand in the chinese real estate sector.
In a statement by the chairman of the Kenya metal and allied sector, the price of steel was going for Kshs. 130 per kg VAT Inclusive of which has significantly reduced to Kshs. 90 per kg. The tubes on the other hand have dropped to Kshs. 120 from Kshs. 160.
Steel, the most important ingredient in the construction industry, is used to make reinforcement bars, beams, columns, windows, doors among other construction products.
Will you carry on with your construction projects?
