Serviced Offices

New office space requirements up by 29% in three months in Nigeria, others

By Chinedum Uwaegbulam
20 September 2021   |   3:00 am

Professional services, industrial, logistics top list of space users

New office space requirements increased by 29 per cent in second quarter of 2021 compared to first quarter in Nigeria and other Africa countries, according to Knight Frank.

This increased office market activity has been attributed to the ‘flight to quality’ trend that has seen businesses taking advantage of weakened prime office rents to occupy office spaces that place employee wellbeing at the forefront.

Data from Knight Frank indicates that the share of new office space requirements across the nine countries they are located in was dominated by professional services (29 per cent), Industrial and Logistics (16 per cent), financial services (14 per cent), healthcare 12 per cent and Non governmental organisations (NGOs) (8 per cent), who together accounted for almost 80 per cent of new office space requirements across Africa in Q2.