MIP WEEKLY CONSTRUCTION INDUSTRIAL REPORT No. 2
Period: August 9 to 15, 2015
A preview of Karen’s new hub
9/08/2015: Sunday Nation, Lifestyle Magazine, Page 5
- The hub is 20 acres big and is 200m from the Karen round-about along the Dagoretti road.
- It is an open air mall of six separate buildings around a 22,000 square foot piazza.
- It has a 44,000 square foot lake as a backdrop of the centre overlooked by restaurants.
- Over 300,000 square feet are taken by a hypermarket, shops, offices, wellness and entertainment space.
Shilling to weaken further next year
12/08/2015: Daily Nation, Page 40
- The shilling is expected to fall further next year from the anticipated rate of 103 against the dollar by close of this year to a rate of 107 by the close of 2016.
- In January this year the rate was 91/= against dollar, meaning that the exchange rate has gone up by about 13.19% to the disadvantage of the Kenyan shilling.
Internet of Things ((IoT)catches on
14/08/2015: Business Daily, Page 10
- IoT is a technology that uses sensors embedded in appliances and electronic devices which can be connected to each other through Bluetooth, mobile phone technology or Wi-Fi.
- Some of the applications of IoT is use of smart locks that pick up motions and sends an alert to a smart device for action thus limiting unauthorized access to premises. In addition smart cameras and nany-cams are recommended to keep children and homes safe. These cameras are connected to the internet broadcasting images and footage that can be accessed from a laptop or Smartphone
Property owners opting for fractional sale of offices in Nairobi
16/08/2015: Sunday Nation, Page 33
- Property developers are opting to sell their office blocks in fractions as opposed to renting them since it increasingly gets harder to get tenants.
- Prolonged surge to construct office blocks has made the sector to hit an early peak phase, with supply exceeding the demand.
- When the supply exceeds the demand the developers are unable to recoup their investment thus opting to sell their building by parts since selling the whole building is even harder.
- According to Mentor Management Limited (MML) prices per square foot for fractional sales of offices ranges between Kshs. 9,000 in Westlands to Kshs. 16,000 along Waiyaki way.
- The report further states that there are nine office nodes in Nairobi-Westlands, CBD, Waiyaki way, Upper Hill, Kilimani and Ngong road, Mombasa road, Gigiri and Limuru road, Karen and Thika road