Nairobi, expensive To Let
31 May 2013, 10:27
Nairobi - Nairobi’s rise as a hub for multinationals entering the emerging African market significantly increased office rents last year making the Kenyan capital one of the most expensive places to let space in the world, a new property index says.
According to property consultants Knight Frank, rents rose by the highest margins in Nairobi’s upmarket suburbs, placing the city ahead of 15 other cities in Africa, Asia, Middle East and Europe, Business Daily reports.
Knight Frank (Kenya) chief executive Ben Woodhams attributes the rent hikes also to the discovery of oil in Turkana that has attracted oil giants such as Tullow, BP Group, and Shell.
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