Demand for warehouse space, both for storage and manufacturing activities, has dropped sharply in Lagos area, and Cluttons projects these conditions may persist in the remaining part of the year, according to the Cluttons’ Spring 2016 Lagos Commercial Property Market Outlook.

According to the report, compiled 12 months to the end of March 2016, there has been an overall slowdown in activity in Lagos’ commercial real estate market, with rents either stagnating or declining across most segments of the sector, attributed to the weakness in the adverse global and domestic economic environment, which is in turn fueling challenging trading conditions...

Culled from Guardian