Real Estate Investors Urged to Tap Into Mixed-use Property to Reap Maximum Returns
Real estate developers should diversify into mixed-use developments, serviced offices and commercial buildings in the counties from rental apartments to get better returns on their investments, consultants at Cytonn Investments said yesterday.
Cytonn Real Estate’s annual Nairobi Commercial Office report shows the market is transitioning to a buyer’s market, where investors should look into putting upgrade A offices in zones with low supply.
“Investors should consider mixed-use developments as they have been doing significantly better,” Cytonn Investments real estate service manager Johnson Denge told a press conference in Nairobi yesterday. “We are also yet to see full benefit from devolution, but that is where the opportunity is.”
He cited Kiambu, Kajiado and Murang’a as counties which are in short supply of quality offices.
The firm’s survey showed that retail space generated a return of about 10 percent followed by commercial office space (about 9.3 per cent) and residential (about 5.6 percent).
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