NAIROBI
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An iconic cityscape
Office blocks, too, are taking over the city, proving that Nairobi is a top choice in Africa for business and investment and enticing both regional and international companies to see its potential. International brands and companies have flocked to the city to set up regional head offices, including global mega-companies Google and Coca-Cola as well as worldrenowned hotel brands and retail companies.
Hotels For example, the Swiss hotel chain Mövenpick opened its highly anticipated Nairobi hotel in April this year, alongside new openings by Hilton and Sheraton. There are several more hotels slated for opening over the next few years, adding hundreds of new rooms to the already huge hospitality
industry. The Austrian retail giant Swarovski opened its first Kenyan store at Two Rivers Mall, as did the Turkish clothing company LC Waikiki and F&F from the UK. While all of these new developments have many positives, including creating new jobs and boosting the economy, it seems that for every new office, shop or apartment block built, other units across the city are sitting empty as many areas of Nairobi’s real estate market suffer from an oversupply.
HIGH UP Skyscrapers have transformed the city
Last year’s extended election period had a negative effect on the country’s economy, with the shilling hitting an all-time low against the dollar and many areas of industry slowing down, including the hospitality and tourism sectors. This no doubt had an effect on all these empty units across the city; but hopefully 2018 will see a return to normal and Nairobi’s building boom will continue.
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