Urbanization sparks retail revolution in Nairobi, East Africa's retail hub

Insights from the 11th annual East Africa Property Investment (EAPI) Summit Retail Forum, held on April 17 and 18, 2024, shed light on the rise of Nairobi's retail sector.

With urbanization on the rise, Nairobi has become a regional shopping destination attracting attention from both local and international retailers seeking modern shopping experiences.

The forum, hosted in partnership with Village Market, Knight Frank, and CBRE Excellerate, served as a platform for thought leaders and industry experts to delve into the factors fueling Nairobi's retail boom.

Ryan Pape, Country Manager at CBRE Excellerate Kenya, highlighted the pivotal role of infrastructural improvements and private sector investments in expanding the retail landscape.

"Nairobi's infrastructural enhancements have opened avenues for local and international retailers, stimulating public and private investment across various sectors," stated Pape.

Hooman Ehsani, Director of New Developments at Greenhills Investment Limited, lauded the vibrancy of Nairobi's F&B scene, attributing its success to a surge in creativity and energy. 

"The recent success of newer entrants has catalyzed entrepreneurship, fostering a dynamic retail ecosystem," remarked Ehsani.

Wambui Mbarire, CEO of RETRAK Kenya, emphasized the diversification of retail partners, signaling a shift in Nairobi's retail dynamics.

"The growth of the sector has led to an array of options for landlords, reflecting the city's evolving retail landscape," noted Mbarire.

Mark Dunford, CEO at Knight Frank Kenya, underscored Nairobi's status stating: "Private equity investments and government-led infrastructure projects have propelled Nairobi into a prominent retail hub."

Murray Anderson-Ogle, GM of Marketing and Commercial at API Events, highlighted Kenya's potential as an African retail real estate powerhouse noting that the success of local retail brands underscores Nairobi's attractiveness as a destination for retail investment.

The EAPI 2024 Retail Forum provided a platform for stakeholders to engage in meaningful discussions and explore opportunities in Nairobi's thriving retail sector. Participants echoed optimism about the city's future as a retail hub and emphasized the importance of continued collaboration to sustain its growth trajectory.