Prime office rent flat as oversupply hurts recovery boon

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The prime asking rent for Grade A offices remained unchanged at Sh192 per square foot. PHOTO | SHUTTERSTOCK

Prime office developers kept their asking rents flat, even as occupancy rates increased, making investors in commercial space miss out on the double-digit returns being witnessed by their peers in other segments of real estate.

This is after players in the office space category battled to attract new tenants and reduce the volume of idle space in an oversupplied market.

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