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- May 11, 2013
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Nairobi is on the global watchlist of top five fast modernising cities that are attracting new global business on growing realisation that big companies cannot operate from one sub-Saharan location in South Africa.
The city is also taking off as a hub for global corporations looking to establish an office to cover the East African region, according to Global Cities-The 2016 Report by Knight Frank.
Big companies with global reach have come to the conclusion that they need to operate from multiple locations and Nairobi is a natural starting point in entering or expanding to new regions.
Nairobi has been termed as demonstrating Africa’s rapid modernisation and joins other cities like Dubai, United Arab Emirates capital, which is said to have pulled clear of past difficulties and is expanding as a hub for investment, tourism and transport.
Others are Kuala Lumpar in Malaysia, Bangkok in Thailand and Moscow, Russia.
The report indicates that around 1.8 million square feet of modern shopping mall space was opened in 2015 and the space forecast to increase.
“Given that the mall stock previously had totalled 980,000 square feet, this amounts to a revolution in the city’s retail experience, which matches the huge economic and demographic changes that have unfolded in Kenya,” said James Roberts, the chief economist at Knight Frank.
With the world’s cities predicted to add 380 million new citizens in the next five years, new mass transit systems, utilities and faster connections to markets will be needed.
The Lamu Port and Lamu-South Sudan-Ethiopia transport Corridor (Lapsset) has been termed as one of the global infrastructure projects that will be generating new business clusters and creating real estate opportunities.
The project consists of a new 30-berth port and oil refinery at Lamu, which will be connected to Nairobi and the borders of Ethiopia and South Sudan by rail, road and oil pipeline.
Other mega infrastructure projects include; China’s global railway links – China is using rail to speed up freight transport to Europe on a route running through Russia or via Iran and Turkey.
The Chinese are also constructing the Standard Gauge Railway (SGR) from the Port of Mombasa to Nairobi and these projects form part of China’s one belt, one road programme to enhance trade routes.
In Ethiopia, a new Chinese-funded railway line between Addis Ababa and the Red Sea port of Djibouti was expected to begin operations before end year.
In Nigeria, a Chinese firm won the $12 billion (Sh1.212 trillion) contract to build an 870 mile railway between Lagos in the West and Calabar in the East.
Other projects are; The Delhi – Mumbai Industrial Corridor - This is a development zone that will be targeted for investment to build up new industries to support India’s rapid urbanisation.
http://www.theeastafrican.co.ke/bus...five-watchlist/2560-3507284-5kgnp6/index.html
The city is also taking off as a hub for global corporations looking to establish an office to cover the East African region, according to Global Cities-The 2016 Report by Knight Frank.
Big companies with global reach have come to the conclusion that they need to operate from multiple locations and Nairobi is a natural starting point in entering or expanding to new regions.
Nairobi has been termed as demonstrating Africa’s rapid modernisation and joins other cities like Dubai, United Arab Emirates capital, which is said to have pulled clear of past difficulties and is expanding as a hub for investment, tourism and transport.
Others are Kuala Lumpar in Malaysia, Bangkok in Thailand and Moscow, Russia.
The report indicates that around 1.8 million square feet of modern shopping mall space was opened in 2015 and the space forecast to increase.
“Given that the mall stock previously had totalled 980,000 square feet, this amounts to a revolution in the city’s retail experience, which matches the huge economic and demographic changes that have unfolded in Kenya,” said James Roberts, the chief economist at Knight Frank.
With the world’s cities predicted to add 380 million new citizens in the next five years, new mass transit systems, utilities and faster connections to markets will be needed.
The Lamu Port and Lamu-South Sudan-Ethiopia transport Corridor (Lapsset) has been termed as one of the global infrastructure projects that will be generating new business clusters and creating real estate opportunities.
The project consists of a new 30-berth port and oil refinery at Lamu, which will be connected to Nairobi and the borders of Ethiopia and South Sudan by rail, road and oil pipeline.
Other mega infrastructure projects include; China’s global railway links – China is using rail to speed up freight transport to Europe on a route running through Russia or via Iran and Turkey.
The Chinese are also constructing the Standard Gauge Railway (SGR) from the Port of Mombasa to Nairobi and these projects form part of China’s one belt, one road programme to enhance trade routes.
In Ethiopia, a new Chinese-funded railway line between Addis Ababa and the Red Sea port of Djibouti was expected to begin operations before end year.
In Nigeria, a Chinese firm won the $12 billion (Sh1.212 trillion) contract to build an 870 mile railway between Lagos in the West and Calabar in the East.
Other projects are; The Delhi – Mumbai Industrial Corridor - This is a development zone that will be targeted for investment to build up new industries to support India’s rapid urbanisation.
http://www.theeastafrican.co.ke/bus...five-watchlist/2560-3507284-5kgnp6/index.html
