Real Estate: Latest News

  • Mogadishu Sees Housing Boom As Somalia Heads Towards Peace

    By 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.

  • How Real Estate Can Help South African Investors Avoid Rand Woes

    Sea Point, Cape Town property real estate south africa By 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.

  • Why Do Africa’s Planned Tech Cities All Look The Same?

    By 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.

  • Will Marriott’s Buyout Of Starwood Hotels Create A Monopoly In Africa?

    Marriott's Buyout Of Starwood Hotels By 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.

  • Ethiopia Plans To Increase Coffee Exports By 45% Despite Food Shortages

    Ethiopia Plans To Increase Coffee Exports By 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.

  • Airbnb Grew 249% In 2015 For International Business Travel

    By 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.

  • 8 Things You Should Know About Golf Legend Gary Player

    Gary Player By 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.

  • Addis Ababa Expansion May Be Scrapped, But Oromia Faces More Challenges

    arrests aim to deter future protests By 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.

  • Ethiopia Scraps Plan To Expand Addis Ababa After Two Months Protest

    Addis Ababa, Ethiopia By 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

  • Mauritius Investments in 2015 Targeted Luxury Real Estate, Not Financial Services

    By 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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