- Uncover the allure of Westlands as multinational giants flock to Nairobi’s eco-friendly business hub.
- Booming market of grade A buildings and the transformative power of sustainability.
In the dynamic city of Nairobi, Westlands aka Westy has emerged as a thriving hub for sustainable office spaces, attracting the attention of multinational corporations. A recent report on Africa’s office market highlights the demand for high-end, eco-friendly workspaces. With an abundant pipeline of grade A commercial buildings, Westlands has become the prime choice for businesses seeking sustainability.
The allure of Westlands lies not only in its modern infrastructure but also in the strong global investments pouring into the city. Major players like the United States, the United Kingdom, South Korea, and China are actively engaged in sustainable projects across Africa and Kenya in particular under the Kenya Kwanza government, and their interest has ignited an influx of multinational corporations into Nairobi, with Westlands at the forefront. This surge in demand has elevated Westlands to the position of the most sought-after office location, surpassing competitors such as Upperhill, Kilimani, and Mombasa Road.
Knight Frank’s report states “The African office market is currently facing challenges related to currency depreciation, particularly in light of the global inflationary environment. This trend is evident in many countries and is causing confusion and a two-tier rental situation where landlords and developers are increasingly seeking USD rents. This is a major market issue and is particularly notable in Kenya, where it impacts the overall market dynamics.”
Regarding the ongoing depreciation of the Kenyan Shilling, investors are increasingly opting for rent payments in dollars to mitigate currency risks. This trend aligns with the international interest in Nairobi’s real estate market, bolstering the city’s commercial sector and paving the way for further growth.
As multinational corporations prioritize sustainability, Westlands has positioned itself as a focal point for eco-friendly businesses. Its modern infrastructure, accessibility due to the newly opened Nairobi Expressway, and high-quality office spaces make it an ideal destination for those seeking a sustainable work environment. With multinational investments and a commitment to eco-friendly practices, Westlands continues to shape the future of work in Nairobi and solidify its status as a prominent player on the global stage.
Big multinational companies currently based in Westlands include financial, telecommunication, IT and auto mobile brands such as Standard chartered bank, Safaricom, Microsoft and BMW respectively.