Tag Archives: office space
office space: Latest News
Dana Sanchez, 2:22 pm AFKI Original
Shopping is changing in Africa. Formal retail developers are learning from the failures of malls in developed markets like the U.S., and applying new models to old ideas. African micro enterprises and small businesses will have a greater demand for shared space and flexible office space in the future. New or existing African office developments will need to apply design principles used in innovation labs, incubation centers and flexible work spaces, a stakeholder said.
Kurt Davis Jr., 8:52 am AFKI Original
Many Kenyans worry a crash may be coming. Bubble advocates stress the near-30 percent annual growth rate in real estate since 2011, but occupancy rates are stable and high at 90 percent. Residential housing demand has always outpaced supply, particularly in lower- to middle-income segments of the market. The reality is most housing constructed in Kenya in the last five years is unaffordable to most Kenyans. Less than 10 percent can afford a mortgage. A local land price index shows that land and property returns in Kenya are outperforming treasury bills, bonds and stocks.
Staff, 2:19 am
When you think about the most expensive offices space in the world, cities like New York and London, with their reputations as global financial centers, spring to mind. However, when it comes to pricing, Lagos, the commercial capital of Africa’s largest economy has managed to find a comfortable spot among them. Rentals for prime office space in Lagos (Ikoyi) is up to $90 per sq. ft per annum this year, above those seen in Midtown Manhattan in New York where rents are closer to $76 per sq. ft per annum,
Dana Sanchez, 10:23 am
Commercial real estate investors can earn 25-percent-plus annual returns in Africa, but only after negotiating hurdles. The lion’s share of mall and office space is in South Africa. What about the rest of sub-Saharan Africa? Ventures Africa presents the best places for commercial real estate investment in sub-Saharan Africa outside South Africa.
- Real Estate