NAIROBI, Kenya, July 15 – Investors are increasingly targeting older commercial buildings for refurbishment rather than acquiring new developments, as demand grows for energy-efficient and sustainable office space.
According to Knight Frank Kenya’s Wealth & Investment Trends Report 2026, 38 percent of respondents said their clients are investing in underperforming commercial properties and upgrading them while retaining their existing use.
“Commercial property is entering a new phase where value is increasingly created through thoughtful refurbishment,” Knight Frank Africa Research Analyst Boniface Abudho said.
“Investors recognise that improving the environmental performance of existing buildings not only extends their useful life but also enhances competitiveness in a market where occupiers are demanding higher quality space.”
The report adds that sustainability is playing an increasingly important role in investment decisions, with 75 percent of respondents citing renewable energy as a key consideration when evaluating commercial property.
“Refurbishment is no longer simply about aesthetics,” said Mark Dunford, CEO of Knight Frank Kenya.
“It is about reducing operating costs, improving energy efficiency and ensuring buildings remain attractive to tenants and investors in an increasingly competitive market.”
