Eldoret was recently listed among cities with the most purchasing power in the country according to research conducted by Fraym. It, therefore, comes as no surprise that investors and businessmen are scrambling for business spaces to set up shop in the town. While it might not be a first-tier city, it’s developing infrastructure, ease of business, strong consumer class, friendly laws, and processes, as well as its fast-growing economy, have made it the main business hub for the Northrift Economic Block.
If you run a consumer-focused company, tapping into Eldoret’s fast-growing consumer potential is a sure way of growing your business into a profit raking venture. Don’t believe me? Before I get to the most lucrative business spaces in the town, I will first look at why you should set up operations in Eldoret.
Why You Should Set Up Operations In Eldoret
It’s A Population and Economic Hub
The first and most important reason why you should set up business in Eldoret is because of its a dynamic population hub. Eldoret residents make up a strong consumer class comprising of approximately 210,000 people from all ethnicities, races, and walks of life.
Secondly, Eldoret’s economy is booming at the moment and consequently, many investors are looking to expand into the region. The last couple of months saw several multi-million companies set up regional bases in the town.
Toyota is building a facility at Annex valued at Ksh 400 million. Safaricom opened their first call center outside Nairobi in March. A cotton-spinning section was recently opened at Rivatex East Africa Ltd. Toyota Tsusho Fertiliser Africa Limited also set up operations in Ngeria. International eateries like Java and KFC also opened branches in Eldoret. The Mediheal Group of Hospitals realizing what a business hub the town is are also building a liver transplant facility worth Ksh650 million.
Support From County Government
Thirdly, the county government led by Hon. Mandago is going above and beyond to create an environment suitable for business. Setting up operations is not hindered by long complicated processes. Matter of fact, Eldoret was voted the number 1 town in the ease of business index. The county government is also partnering with businessmen and international companies to establish special economic zones. These zones are supposed to provide locations where business people can set up their enterprises. Currently under development is a 700-acre industrial park in Ainabkoi Constituency. The project is said to attract over $2bilion in investments. Such initiatives support business ventures in their growth and expansion.
Fourthly, the town’s location is ideal for businesses looking to expand. Eldoret’s central position serves several surrounding counties. These include Elgeiyo Marakwet, Baringo, Nandi, Kakamega, West Pokot, and Turkana. It also has high proximity to East African countries such as Uganda thanks to the Mombasa Kampala Highway that passes through the town. The good infrastructure, availability of social amenities, political stability and security also make the town great for business.
Are you sold or are you sold? 😅 Having established beyond a reasonable doubt that Eldoret bears significant growth opportunities for business, let’s look at the most promising business spaces in the area.
The Most Convenient Business Spaces In Eldoret
There are many things that determine if a location is good for business. These include ease of accessibility, drive times, footfall and on and on. The following locations have proven to be prime locations to set up operations.
Daima Towers earlier known as MUPS Plaza is one of the best places to rent business space in Eldoret. It is located along the busy Uganda Highway and is very close to the CBD as well as populated estates such as Kapsoya. The building which happens to be the tallest one in Eldoret has backup power, high-speed lifts, CCTV surveillance, and heightened security. It also has internet facilities, a steady supply of water, a fire escape, functioning air conditioning, and solar panels. The latter is used to heat water in the washrooms as well as light common areas. The great thing about setting shop here is that the rental spaces are so diverse and the rates are fair.
Depending on the design, location, and feel of the space, costs range between Ksh 92 p. s. f to Ksh 150 p. s. f. Office spaces start from the 8th to the 23rd floor. The 24th floor features large beautiful spaces plus a pool which could be turned into a restaurant or sports bar. On the 25th floor are penthouses up for rent too. The fact that the building has 4 parking levels is also worth mentioning. Villa Care Kenya manages the property. Contact them by calling +254786714882 if interested.
Business Spaces At Highlands Mall
Stellar, state of the art, and architectural masterpiece. These are the first words that come to mind when someone mentions Highlands Mall. The new mall in town that is yet to be opened offers business spaces that can be redesigned to be whatever you want. The abundance of space and the layout of the shops allow you to fix your workspace however you see fit which is not something you can get anywhere as the spaces are usually restricted. It is located just opposite the Western stage and close to locales like West, West Indies, and the Industrial area. This means the mall will benefit from great footfall.
Another factor that makes the mall a prime business place is the fact that it will feature world-renowned retailers which means it will attract the affluent. Security is going to very tight at both the front gate as well as the back gate which is to be used by bulk suppliers. You can, therefore, rest assured that should you set up operations here, you will be in a safe and secure work environment. Highlands Mall is also accessible to the disabled. Call 0796548252 if you are interested in space.
Kerio Valley Development Authority is a 14 story twin tower located along Oloo Street in the CBD. It’s location makes it an ideal business spot. Not to mention it has high speed internet connectivity, CCTV surveillance, and heightened security. Lifts service all floors, all of which have fire fighting equipment.
Rental Spaces In the old wing/northern wing cost Ksh 40 psf plus a service charge of Ksh 20. Rent in the newly constructed Southern wing is Ksh 60 psf plus a service charge of Ksh 20. Villa Care Kenya manages the property. Reach them by calling +254786714882.
Located along Uganda Highway, Rupa’s mall is another ideal business spot. The mall experiences high footfall thanks to its proximity to estates like Kapsoya, Elgon view, Annex etc. The mall features international eateries like KFC and Java and the only movie theater in town; Cinemas. It also has world famous franchises like Mr P and Woolworths. Not to mention the kids corner on ground where most Eldoret parents take their kids to play.
The presence of such businesses means there’s a lot of people visiting the mall and not just that. The international brands attract the upper class and the who’s and who’s of Eldoret . If you are smart, you can easily translate these numbers into sales. There’s CCTV surveillance, lifts, escalators, and internet connection. The rentals are spacious and have a certain classy look and feel. There’s ample parking, backup power and a steady supply of water throughout. Call 0722922000 if interested in space here.
Tiryo Sugarland Plaza
Located along Oloo Street opposite Nandi Arcade, Sugarland Plaza offers business Rental Spaces in the heart of Eldoret’s CBD. The spaces which are exclusively meant to be offices are on the 3rd and 4th floor. They go for Ksh 65 psf. Amenities available include CCTV surveillance and backup power.
Although first tier cities have always been the first choice for investors, the tune is changing as more people realise the consuming power second tier cities have. Eldoret specifically, has a lot to offer in terms of business opportunities. And the above places offer some of the best retail action in town.