Real Estate: Latest News

  • Singapore’s Sovereign Wealth Fund GIC Invests $100M In Two Africa-Focused PE Firms

    By Kevin Mwanza, 8:14 am

    Singapore’s sovereign wealth fund GIC has invested $100 million in two African-focused private equity players, Actis and RMB Westport. This is the first time that GIC, which has investment in the US, Europe and Asia, has invested in Africa. It’s lack of direct presence on the continent could be one of the reasons why it decided to invest indirectly via Actis and RMB Westport, private equity portal PERE said in an exclusive report.

  • How They’ve Grown: South African Millionaires

    By 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.

  • African Investors Show Appetite For South Africa’s Property Market

    By 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

  • 8 Elaborate And Impressive African Presidential Palaces

    By 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.

  • South African Retail Magnate Christo Wiese Eyes Zambian Real Estate Firm

    By 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.

  • China Still Funding Africa’s Infrastructure Projects Amidst Economic Slowdown

    By 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.

  • Plunge In Commodity Prices Expose African Cities To Investors

    By 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.

  • Japan Eyes Aid For 60 Africa Infrastructure Projects To Counter China’s Influence

    By 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

  • U.K.’s Wealthiest Landlord, Duke Of Westminster Invests In African Malls

    By 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.

  • Rich Africans Are Buying Yachts As Investments In Cape Town

    By 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.

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