Prime office absorption up 64pc in six months
Absorption of Grade A and B office space rose 64 per cent in the country in the first half of 2021, a new report shows. The Knight Frank Kenya Market Update for the last six months attributes the increase to a global roll-out of the Covid-19 vaccine that inspired confidence among employees.
This is as the rents for the prime offices fell marginally in the period under review from $1.12 (Sh121) to $1.10 (Sh119) per square foot per month.
“This dramatic increase was mainly attributed to the roll-out of vaccinations globally, providing occupiers with confidence to resume looking at their occupational strategies, evidenced further by the gradual physically return of employees to their offices,” noted the firm.