Real Estate: Latest News
Kevin Mwanza, 8:42 am
The fall in commodity prices on the international market has left many investors seeking alternative investments in Africa were most economies are supported by the export of metals, oil and agricultural produce such as coffee and cocoa. According to a Reuters report, investors on the continent have now turned their focus to other sectors including retail, financial services, technology and real estate.
Staff, 3:42 am
The Japanese government plans to allocate development assistance for some 60 projects in African countries, centering on infrastructure development but also covering fields as diverse as agriculture and health care, a government source said Thursday. The plan has been formulated in preparation for the sixth Tokyo International Conference on African Development, which Japan co-sponsors with the United Nations and the African Union
Dana Sanchez, 6:12 pm
He’s the U.K.’s richest landlord and now he has his sights set on Africa. Led by the Gerald Grosvenor, Sixth Duke of Westminster, the Grosvenor Group owns real estate on five continents and reports almost $20 billion in assets under management. They’re investing in RMB Westport, a real estate development firm with offices in six African countries that’s targeting Nigeria, Ghana, Angola and the Ivory Coast.
Dana Sanchez, 3:05 pm
Despite the drought in Limpopo, Khuphukile Dube’s Brahman cattle are in peak condition. His stud won the reserve senior champion red bull prize at the Thabazimbi Agricultural Show last year and he has spare cash for a new toy. A luxury yacht would be a great investment, he said. Wealthy Africans from around the continent help South Africa’s yacht industry generate $150 million per year. So is buying a yacht a good investment? Not so much, according to one North American blogger.
Staff, 12:03 am
Established American household names are penetrating the South African market — names such as Starbucks, Krispy Kreme, Burger King and other fast food products. This year these brands will be adopted just as well by locals are they are in the U.S. “The fact that they may be new to South Africans will not deter franchisors moving aggressively to establish presence in local business centers,” Standard Bank said.
Staff, 12:02 am
The bullet scars have long been covered up and business is booming in central Mogadishu’s famous Bakara Market, headquarters of Daru Salaam Real Estate. Bakara is the site of the infamous 1993 battle when fighters shot down two U.S. Black Hawk helicopters. Daru Salaam means “house of peace. The company is building 500 homes in a new development four miles outside Mogadishu, part of an economic boom as diaspora Somalis return and businesses cash in on relative peace in the city.
Kevin Mwanza, 9:03 am
Investing in South Africa’s real estate market could be the only sure bet for investors in the Africa’s second largest economy to beat inflation and cushion their portfolio against effects of a quickly depreciating local currency. According to Catalyst Fund Managers, the country’s listed property investments outperformed all other asset classes last year, making it the seventh time in 11 year it has done so.
Kevin Mwanza, 5:53 am
In the last few year a number of African government have come up with detailed plans to build tech cities that they say will cement their countries as the world’s ‘Silicon Savannah’. A growing patchwork of tech- entrepreneurs in a myriad of tech hubs with their revolutionary applications have raised the promise of the continent becoming one of the world’s innovation centers in the world.
Dana Sanchez, 12:26 pm
The $12.2 billion sale is expected to be complete by mid-2016. It’s part of a trend for consolidation across the global hotel industry, and these global mergers are likely to impact African hospitality significantly. “This domination by the new merger company will lessen over time as other companies start to understand the appeal of the African market,” a stakeholder said. The combined company will have 10% of the total hotel supply in the world — not a monopoly.
Dana Sanchez, 9:39 am
Some 80% of Ethiopia’s 100 million population are farmers. Coffee makes up almost half the country’s gross domestic product and it has become a favorite source of coffee for major specialty coffee blenders like Starbucks. The government is incentivizing farmers to increase coffee production. Meanwhile aid groups say Ethiopia’s food shortage is a “code red emergency” and question international response in one of the country’s worst droughts in decades.
- Real Estate