Investors have shunned industrial zones of Nairobi and other major cities because the structures are outdated and of poor quality thus reducing property value, an annual industry report suggests. According to the survey by property manager Knight Frank, industrial areas of Nairobi, Mombasa and Kisumu also suffer from heavy traffic congestion. About 300,000 square metres of commercial office space was delivered to the Nairobi market in 2016, up from 150,000 square metres in 2015. In the retail market, approximately 100,000 square metres of formal retail space was delivered to the market in 2016, up from about 50,000 square metres in 2015. Multinationals are taking a growing interest in Kenya, the report suggests, with the most recent market entrant being French supermarket chain Carrefour.

Source: The Star April 18, 2017 20:26 UTC