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Developers should focus on the “long term” for gains in the commercial offices sector, an industry lobby has said.
Kenya Property Developers Association (KPDA) Chief Executive Elizabeth Mwangi-Oluoch said certain locations were experiencing over-development and finding it difficult to get tenants. “Certain locations are experiencing over-development and struggling to achieve historical occupancy percentage rates. However, this is also driven by the general macroeconomic environment, to a certain degree,” she said, adding: “Developers should therefore be geared to the long-term horizon for gains.”
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