Nairobi, Feb. 10 -- The cost of leasing warehouses has risen five percent to Sh70 per square foot as the removal of the Covid-19 pandemic restrictions helped the industrial sector to grow.

A Knight Frank report shows that in the second half of last year, rent per square foot of a warehouse rose to Sh70 from Sh67 a year earlier.

"Over the review period, prime monthly industrial rents stabilised at circa Sh70 per square foot -a five per cent increase compared to a similar period in 2021," read the report.

"The slight improvement was mainly attributed to easing of mobility restrictions which propelled recovery in the industrial sector."

At a round table with Absa Bank Kenya and property stakeholders on Thursday, Knight Frank said strong ...