MIP WEEKLY CONSTRUCTION INDUSTRIAL REPORT No. 2

Period: August 9 to 15, 2015

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.

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.

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 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