Following a 2 year stable growth and with 120% full business space occupancy and after the announcement of their new facility in the Dubai Marina only 2 weeks ago, myOffice are now setting up operations in the heart of Nairobi, Kenya.
The new state of the art facility is located in Upper Hill Nairobi in a brand new development project.
myOffice have taken two floors, totaling approximately 15,000 sq ft. The state of the art Business Centre will provide local and international clients with a complete range of tailored business solutions, varying from office space, phone answering to full logistical and secretarial support.
The strategic decision has been taken in the last few weeks by myOffice board of Directors and Managing Director Melissa O'Neill. After thorough analysis of the market myOffice identified that due to leasing restrictions in Kenya new start up businesses and SMEs often find themselves tied in to lengthy and expensive long term commercial leases that increase their financial risk. The serviced office solution minimizes the risk factor and offers businesses the flexibility to afford business workspace and reduce financial burdens.
Melissa O'Neil - Managing Director said, "Having visited Kenya and after initiating the process of setting up the first myOffice Business center in Nairobi, we have been overwhelmed by the entrepreneurial spirit of the city and are delighted that the SME sector of Kenya is incredibly strong. We have also noticed that in recent months large multinational reputable companies see countries like Kenya as a new ground to set up office. There is a huge amount of development going on in Africa at the moment and business is booming. We want to be able to support that and feel that we will be able to offer something that simply isn't there.It was a big decision to take on such a large expansion plan especially whilst we are in the midst of expanding our new business centers across the UAE.
We are pleased to reach the stage where myOffice partners will be able to work at all our MENA locations. Partners from each center across various countries will be able to benefit from the facilities and services of other centers, including meeting rooms, hot desking and the open lounges.
We will also be promoting our own network that we have grown and developed over the last two years. It is with great pleasure that we are able to support and help our clients develop their businesses through our links. We have been thrilled to see that around 40% of our partners are conducting business amungst each other through our business introduction channels helping our clients reach new clients and markets. It will be very interesting and satisfying to see how our Middle East Partners integrate with the African region and vice versa once the facilities are up and running."
myOffice have a target to specialise in bringing the developed services and expected facilities that have been available to businesses in markets like the UK, Europe and Australia for years to the emerging MENA region. Outside of the GCC, Africa was the next obvious choice.
Other new business centers are planned to be opened within the next 3 years across various locations in Africa. However Nairobi itself already has a vibrant market; real estate trends and studies indicated fast increase of small and medium business that made the decisions for expansions easy.
myOffice Business Centre has proven to be a successful investment for its shareholders, return on investments successfully reached 25% in its first year of operations in the UAE. Renewal rate of 80% has been achieved through in house office leasing clients in addition to over 500 companies using myOffices business address and answering services.
myOffice business relationships have been generated through business to business agreements and referral systems that has given myOffice the opportunity to form solid foundations and relationships with their growing clientele.
