Office block owners change tack on glut

Jamii Towers, an office block on Hospital Road in Upper Hill in Nairobi. PHOTO | SALATON NJAU | NMG

The boom in office construction has generated an oversupply of around 3.2 million square feet, leaving some tower blocks almost empty and driving developers to seek out new marketing strategies in a now fiercely competitive market.

Office space supply in Nairobi has grown by more than 50 per cent over the past five years, according to real estate investment management firm Cytonn, which forecasts a further 21 per cent growth in 2018.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.