Located to the northwest of the Nairobi CBD, office developments in Westlands recorded average rental prices of $13.60/m2, with a 74% average occupancy rate in 2016 due to increased completed office developments under the letting process in 2015/2016.
Demand for industrial property in Nairobi is expected to continue rising in 2017 with rental growth rate set to increase by between 8-10%, according to Broll Kenya Market Report H1 2017.
Ashburton Investments is pleased to announce the first close of the RMB Westport Real Estate Development Fund II (Westport II), raising just under USD250m of the USD450m target. Ashburton Investments provided significant support with fundraising for the first close with eight of the firm’s offshore and South African institutional clients investing in the fund to date.
China has reiterated its commitment to support industrialisation in South Africa and the rest of the African continent by pledging $50 billion towards industrialisation projects, said the Department of Trade and Industry (dti).
Lonrho Plc has announced that its subsidiary Lonrho Ports has signed a memorandum of understanding with Ghana to be the sole developer and manager for a new oil logistics port.
Demand for industrial property has increased dramatically in recent times on the back of a buoyant economy. The tremendous shortage of factories and warehouses, old or new, has led to rising land prices and rentals unlike anything seen for many years