The retail sector in East Africa, particularly in Nairobi, Kenya, is experiencing significant growth, propelled by factors such as urbanization, a burgeoning middle class, and enhanced digital connectivity hence more anticipations for the retail forum. Nairobi serves as a pivotal retail hub not only for Kenya but also for wider East Africa, attracting both local and international retailers and food and beverage (F&B) businesses.
This trend is underscored by insights gathered from the 11th annual East Africa Property Investment (EAPI) Summit Retail Forum, scheduled for April 17-18, 2024, in Nairobi.
The demand for retail experiences in Nairobi reflects a digitally savvy middle class seeking both local and international brands. This demand has fostered the development of robust local retail brands alongside the influx of international counterparts. Recognizing the pivotal role of retail in the property industry, the #EAPI2024 Retail Forum, hosted in partnership with Village Market, Knight Frank, and CBRE Excellerate, provides a unique platform for stakeholders to engage with leading landlords, brokers, financiers, and advisory teams.
Key stakeholders such as Ryan Pape, Country Manager at CBRE Excellerate Kenya, emphasize Nairobi’s infrastructural improvements and increased private sector investments, which have created opportunities for both local and international retailers and F&B chains.
Similarly, Hooman Ehsani, Director of New Developments at Greenhills Investment Limited, highlights Nairobi’s vibrant F&B scene and the burgeoning interest in retail spaces.
East Africa’s retail boom: a new opportunity for real estate
Wambui Mbarire, CEO at RETRAK Kenya, notes the evolving retail landscape in Nairobi, which now encompasses diverse locations beyond the traditional urban centers, providing ample opportunities for retail property players.
Mark Dunford, CEO at Knight Frank Kenya, underscores Nairobi’s growing prominence as a retail hub, driven by urbanization, consumer spending, and private equity investments.
The #EAPI2024 Retail Forum serves as a vital platform for stakeholders to navigate the evolving retail market and capitalize on emerging opportunities. Murray Anderson-Ogle, GM of Marketing and Commercial at API Events, emphasizes Kenya’s potential to emerge as a retail real estate powerhouse and the significance of the forum in fostering industry collaboration.
The Retail Forum, a key component of the 11th East Africa Property Investment Summit, will convene on April 18, 2024, at Radisson Blu, Upper Hill, Nairobi, Kenya. For more information and registration, please visit https://EAPISummit.com.