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Nairobi office prices to dip, says Britam

REAL ESTATE
By Mwaghesha Mkala | June 30th 2016

The prices of office space in Nairobi is likely to go down this year as experts project a 90 per cent jump in the supply.

According to a quarterly report by Britam Asset Management, 3.8 million square feet of office space will be released into the market by the end of the year, up from 1.7 million in 2015.

According to the report dubbed Demystifying Nairobi's Office Market Space, the increase in supply is attributed to speculative investors, who are upbeat about the economic outlook.

Westlands, Ngong Road and Upper Hill lead in the supply, with areas like Karen, Riverside and Kilimani having an even supply and demand curve. Mombasa Road is, however, struggling.

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