Real Estate: Latest News
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.
Dana Sanchez, 3:00 pm
For $50, you can stay in the 51st floor penthouse of Africa’s tallest apartment building in downtown Johannesburg — dinner included. Or you can stay at an Airbnb-listed accommodation maintained by the Kigali Art Gallery, which teaches art to genocide survivors and impoverished youth. Airbnb says it was designed for micro-entrepreneurs. Like Uber, the tech-based booking platform is not without critics who blast the sharing economy.
Peter Pedroncelli, 8:00 am AFKI Original
South African former golfer Gary Player is a legend of the sport, but aside from his world-renowned abilities on the course, he is an incredibly interesting personality and a great ambassador for his country. He became famous for the quote: “The harder you work, the luckier you get”, and it is that work ethic and determination that he successfully carries through in all of his activities. Here we take a look at 8 things that you should know about golf legend Gary Player.
Dana Sanchez, 10:37 am
After two months of protests left 140 dead, Ethiopia abandoned development plans for Addis Ababa into neighboring Oromia state, but the problem hasn’t gone away. Now the government must pick a site for its latest mega project — an airport with the world’s largest passenger capacity. Rejecting official plans is unprecedented and historic in Ethiopia, suggesting the government acknowledges the legitimacy of the recent protests, during which several businesses were attacked.
Kevin Mwanza, 8:12 am
Ethiopia has decided to cancel a plan to expand its capital Addis Ababa in the neighboring Oromia state, the country’s largest region, after nearly two months of protests left more than 140 people dead, according to Human Rights Watch (HRW). The country’s communication minister, Getachew Reda, told the Associated Press on Wednesday that officials in Oromia had agreed to stop the expansion plan
Staff, 1:34 pm
Like other emerging economies, Mauritius has been hurt recently by investments being diverted to other destinations perceived safer in the developed world. Investments in the Indian Ocean island fell by nearly 30% to about $200 million in 2015 through September. Investments that did come in targeted luxury real estate rather than manufacturing, outsourcing, ICT and financial services.
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