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Office space suffer 34pc vacancy on weak demand
Uptake of the office spaces has been low as some companies introduce hybrid working models where the number of days workers report to office has been reduced.
Commercial property owners who have invested in office spaces are finding it rough as companies cut office usage to save on costs, reducing demand as 34.4 percent of available space remained untaken.
A new real estate report by the Kenya National Bureau of Statistics reveals that in 2023, while close to two-thirds (63.3 percent) of commercial properties that were advertised for leasing were office spaces, they attracted the lowest demand from the market.
