WEST VS. EAST
currency, in turn due to less reliance on commodities, means investor interest has shifted to East Africa and Kenya in particular. GRI: Africa has a growing need for industrial real estate, how will we see this evolve over the next decade? NL: I can only really comment about Ghana and Kenya, but suffice to say there is very little supply of modern industrial and warehouse buildings; in fact you would be hard pushed to find
At Tatu Industrial Park we have interest
any at all.
from two developers in building speculative warehousing and another devel-
This is because economics just haven’t
oper that will construct and sell build
worked up until now. Tenants have
to suit premises for individual occupier
been happy to just accept sub-standard
needs.
building specifications and pay low rents. With no tenants willing to pay the $6.50/$7.00 per m2 per month rent (very low by international standards even in emerging markets) to trigger development of modern industrial/ warehouse space, there will be no development; but this is changing and changing fast.
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Africa GRI
“Africa has a growing need for industrial real estate, how will we see this evolve over the next decade?�