Office, mall rents plunge on jump in space supply

Stanlib Fahari I-Reit investor briefing at the Nairobi Serena Hotel on March 29. PHOTO | DIANA NGILA | NMG

The cost of renting space in malls and offices has dropped, defying the ongoing economic recovery from Covid--19 hardships and return of workers and students.

Listed property investor Ilam Fahari I-Reit #ticker:FAHR says office rent in top-grade buildings has dropped by an average of 16.9 percent over the past four years on increased supply.

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