Office space glut weighs on prices, profits

RiverFront Building located off Riverside drive overlooking the Chiromo Road junction in Nairobi. FILE PHOTO | SALATON NJAU | NMG

The country has an office space oversupply estimated at 3.2 million square feet this year and is expected to hit 3.9 million by 2018.

A new report by Cytonn Investments notes the growing glut in commercial office space is pushing some owners to cut asking prices to secure sale or occupation.

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