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Office space rent down as supply rises - Knight Frank

Office rent dipped by seven per cent in the first half of 2018 due to an oversupply of space, the latest sector update shows.

Knight Frank’s Kenya Market Update shows absorption of office space on the other hand rose by 12 per cent within the review period.

The increase led to rent for prime office locations decline to Sh131.18 per square metre from Sh141.27 as tenants enjoyed better bargaining power due to the increased choices.

Westlands, Upperhill and Parklands were found to be most popular locations due to their proximity to the City...


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Published By: the-star - Wednesday, 11 July