Real Estate: Latest News
Dana Sanchez, 11:10 pm
Cape Town is a popular place to have a second home because it’s relatively affordable — $1 million could buy you 2,744 square feet of prime residential property in Cape Town compared to 2,185 square feet in Sao Paulo, 1,065 square feet in Mumbai or 1,033 square feet in Berlin. Wealthy individuals can get 10 times more space in Cape Town than New York for the same money, according to the real estate property group Knight Frank’s 2016 Wealth Report.
Staff, 1:35 am
Investors from other African countries continue to show a strong appetite for residential property in South Africa, particularly in Gauteng province. They are from across the continent with most frequent investors originating from Nigeria, Angola, Ghana, Uganda, Gabon, Kenya, Zimbabwe, Congo and Mozambique. Foreign investment in residential property in South Africa continues to be encouraged by the perceived weakness in the currency
Julia Austin, 12:44 pm AFKI Original
Elaborate presidential palaces can become controversial when voters think the money would have been better spent elsewhere. Sudan’s President Omar al-Bashir moved into his new digs in January 2015. The inside of the building is as elaborate as the outside, “dominated by a plush red carpet and bedecked with a magnificent chandelier.” The building was designed by a Chinese architectural firm, provoking protest among some Sudanese. Here are 8 of the most elaborate and impressive African presidential palaces.
Kevin Mwanza, 5:48 am
Tradehold, an offshore investment holding company owned by South African retail magnet Christo Wiese, is planning to by a majority stake in Lusaka Stock Exchange-listed Real Estate Investments Zambia (Reiz). Tradehold said it about to acquire a minimum of 51 percent shareholding in Reiz. The Zamabian real estate firm develops commercial, industrial and retail property, and owns more than 50,000m² of prime property in Lusaka.
Kevin Mwanza, 9:21 am
Over the last decade, China has grown to become one of the largest trade partners with sub-Saharan Africa countries, with the region benefiting from numerous Chinese investments. A recent slowdown in the Chinese economy has however made many analysts to doubt that some mega infrastructure projects that were being funded by the world’s second largest economy would come to fruition.
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.
- Real Estate