Mall yields drop 10 percent in tough economy

The Sarit Centre in Westlands, Nairobi. Its expansion contributed to the excess space supply during the review period. FILE PHOTO | NMG

Tough economic times and increased completion of malls saw rental yield fall by a record 10.2 percent with occupancy rates in existing properties declining by 4.8 percent.

Realtor Cytonn Investments quarter three Retail Sector Report 2019 says Westlands experienced the largest drop in performance with a 7.1 percent fall in rental charges.

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