There seems to be an explosion of skyscrapers in Africa. In every city you visit, skyscrapers are popping up overnight. The increased demand in office spaces across the continent has led to the mushrooming of skyscrapers with some going beyond 100 meters into the sky.
South Africa leads the continent with the most skyscrapers at 54 followed by Egypt which has 48. Nigeria has 14 while Algeria has 13. Kenya has 11, Morocco has eight while Tanzania and Angola have seven and six respectively. Libya has five while Cote D’Ivoire, Ethiopia, and Mozambique have three each.
- South Africa – 54
- Egypt – 48
- Nigeria – 14
- Algeria – 13
- Kenya – 11
- Morocco – 8
- Tanzania – 7
- Angola – 6
- Libya – 5
- Cote D’Ivoire – 3
- Mozambique – 3
- Ethiopia – 3
Skyscrapers in Kenya include Britam Towers at 200 meters followed by Old Mutual Towers at 163 meters. Times Towers is 140 meters. Kings Prism Towers has 133 meters in the sky while Kenyatta International Convention Center has 105 meters. Teposta Towers have 120 meters while Social Security Houese has 103 meters. Kenya Commercial Bank Plaza has 109 meters.
According to Wikipedia, most of the tallest buildings in Kenya are found in Nairobi, the capital and largest city in the country. In Nairobi, there are 18 buildings that stand taller than 80 meters (260 ft), and several are under construction.
When it comes to overall real estate in Kenya, Nairobi, Kisumu, Uasin Gishu, and Nakuru are the most oversupplied retail markets by 3.0 mn SQFT, 0.2 mn SQFT, 0.12 mn SQFT, and 0.09 mn SQFT, respectively, and also expected to increase further especially in Nairobi with the additional spaces such as the Ojijo Properties.
The Kenyan retail sector performance recorded a stable performance with the average rental yield coming in at 6.8 percent in 2022.
Nairobi was the best-performing region with an average rental yield and occupancy rate of 7.8 percent and 75.9 percent, respectively.
The opportunity remains in mid-tier counties that are undersupplied such as Kiambu County and Mt. Kenya region, both having space demand of 0.5 mn SQFT.