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Kenyan Business Feed
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  • News
    Miscarriage of justice 5 years on haunts Safaricom killer director

    Miscarriage of justice 5 years on haunts Safaricom killer director

    Government cancels appointments for passport applications

    Kenyan Passport among the most powerful in Africa

    Pesalink appoints Gituku Kirika as CEO

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    Samsung Galaxy S21 is now out,pre orders open in Kenya

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    6.5 million register new mobile money accounts in 2020 -CBK

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    Hospitality Industry Players Eyeing MICE for Business Revival

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    Twitter CEO finally breaks silence about banning US President Donald Trump from the platform

  • Markets
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    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Brace for harsh times as fuel pump price hikes

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    6.5 million register new mobile money accounts in 2020 -CBK

    6.5 million register new mobile money accounts in 2020 -CBK

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

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    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

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    Terror group Al-Shabaab collects almost as much tax as the Somalia government – Report

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  • KBF
    • All
    • Agribusiness
    • Banking
    • Insurance
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    • Opinion
    Government cancels appointments for passport applications

    Kenyan Passport among the most powerful in Africa

    ‘Beware of fake currency’, CBK Warns

    Diaspora remittances rose by 11 per cent to Sh341 billion in 2020 – CBK

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      OPINION: Why Amina Mohammed’s Push to Head WTO is ill-timed

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Home Real Estate

Mount Kenya region has lucrative retail rental yield – Cytonn

by Montui
December 6, 2020
in Real Estate
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Edwin Dande, CEO Cytonn Investments

The Mount Kenya region currently offers the best investment opportunity to retail space developers, according to investment firm Cytonn.

According to the firm’s Kenya Retail Sector Report-2020, the area recorded high rental yields of 7.7 per cent, 0.1 percentage points higher than market averages of 6.7 per cent.

Within the Nairobi Metropolitan Area (NMA), the opportunity lies in Westlands and Karen which were the best performing retail nodes with rental yields of 9.8 and 9.2 per cent, respectively.

This is attributed to relatively high demand as the neighbourhoods host affluent residents with high consumer purchasing power, ability to charge a premium on rates on the high quality retail spaces, relative good infrastructure thus ease of access into the areas and relatively high occupancy

The country’s real estate sector recorded subdued performance across the various real estate themes in the year.

According to Cytonn, this resulted from the tough operating environment as the economy grappled with effects of the Coronavirus pandemic.

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In the retail sector, performance declined, recording average rental yields of 6.7 per cent, 0.3 percentage points lower than the 7.0 per cent recorded in 2019.

The subdued performance is largely attributed to reduction in rental rates in a bid to attract tenants amid a tough economic environment which saw the rental rates in the sector post a 2.1 per cent decline to Sh115.1 per square feet in 2020.

The retail sector also had reduced occupancy rates which declined by 0.7 percentage points year-on-year from 77.3 per cent in 2019 to 76.6 per cent in 2020 attributable to reduced demand for physical retail space.

Rental yields within the Nairobi Metropolitan Area (NMA) declined by 0.5 percentage points to 7.5 per cent from 8.0 per cent in 2020 attributable to decline in demand for space evidenced by a drop in occupancies.

The subdued performance is also attributed to the current oversupply of retail report spaces by 3.1 million square feet.


Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]

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