This content has been archived. It may no longer be relevant
QuickMart, a Kenyan homegrown supermarket opened its twelfth outlet on Magadi Road in Ongata Rongai, Kajiado County.
The standalone outlet, measuring 24,000 SQFT, will continue to be used in pushing the retailer’s fresh food concept.
The family-owned chain which has its roots in Nakuru was setup in 2006 by late businessman John Kinuthia has embarked on a compound expansion plan to meet its ends.
Satellite towns such as Ongata Rongai, Ruiru and Ruaka are increasingly attracting retailers driven by the affordability of land prices at Kshs 25.5 mn per acre compared to the average land prices of Kshs 134.0 mn per acre within Nairobi as at September 2019.
READ
- Nairobi Land Prices are Witnessing Slow Growth, But Real Estate Market Not Taking Deep Dive
- Thika Records Double-Digit Growth, Most Affordable Satellite Town in Nairobi Metropolis
Positive demographics in the areas acting as the Nairobi dormitory areas thus creating demand for consumer goods & retail services, and, relatively low-priced retail spaces at Kshs 131.4 per SQFT.
According to the Cytonn Retail Sector Report 2019, the average rents in satellite towns came in Kshs 131.4 per SQFT in 2019, 28.3% lower than the market average of Kshs 168.6 per SQFT in 2019.
However, occupancy rates in the formal retail market in satellite towns declined by 3.4% points to 70.3% in 2019, from 73.7% in 2018, attributed to competition from informal retail spaces.
READ:
