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Key Contacts

Africa Valuations

Nairobi | Kenya

Nairobi is an increasingly important commercial hub for both East Africa and the whole Sub-Saharan region.

Market highlights

  • It is the location of the regional HQs of multinational companies including Google, IBM, PwC, General Electric and Coca Cola.
  • Nairobi is a growing technology hub, and the birthplace of M-Pesa, the world’s most successful mobile money transfer service.
  • It has some of the largest urban developments currently underway in Africa, such as Tatu City and Konza Technology City.
  • The retail sector is a significant focus for development, and recently opened malls include Two Rivers, Garden City and The Hub Karen.
  • Kenya is set to become an oil-producing nation, following recent oil discoveries in the north of the country.

 

Property market data

 

Prime rents

Prime yields

Office

US$ 16/ sq m/ month

8%

Retail

US$ 48/ sq m/ month

8%

Industrial

US$ 4.70/ sq m/ month

8.5%

Residential
(4 bed exclusive house)

US$ 4,100/ month

5%

 

Market statistics & forecasts

Kenya population - 46 million

Kenya population forecast, 2025 - 59 million

Nairobi population - 3.9 million

Nairobi population forecast, 2025 - 5.9 million

Kenya GDP growth, 2016 - 6.0%

Kenya GDP growth forecast, 2017 - 6.1%

Kenya GDP (PPP) per capita, 2016 - US$3,360

Kenya urbanisation rate - 26%