Kampala real estate sector blues
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Loading... - Mariam Ojok
- 05 May 2023
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The latest real estate market report for the second half of 2022, published by Stanbic Properties Limited, a subsidiary of Stanbic Uganda Holdings Limited shows mixed activity performance in different spaces attributed to different factors.
The report indicates changes in price, demand and related variables for residential, retail, office, rental, hospitality spaces in different parts of Kampala Metropolitan areas for the last six months of 2022 compared to the same period in 2021.
According to the report, the second half of the year 2022 registered a 4% surge in demand for office space in Kampala City.
SPL’s Chief Executive Spencer Sabiiti said that the Kampala office market leasing activity for Grade A and B witnessed a solid recovery in the second half of 2022 compared to the same period the previous year with approximately 12,000 m².
Class A properties represent the highest quality buildings with higher income tenants while class B properties are a step lower from class A properties—in terms of quality.
The report indicates changes in price, demand, and related variables for residential, retail, office, rental, hospitality spaces in different parts of Kampala Metropolitan areas for the last six months of 2022 compared to the same period a year before.
Sabiiti further explained that the space taken up was a combination of expansionary or consolidation-led and pent-up demand leasing as occupiers began to realign their business strategies after a lengthy hiatus post-COVID-19. Read More…
