Real Estate: Latest News
Dana Sanchez, 10:35 am
Naspers owes its fortune to one great investment — a 34% stake in China’s top internet service, Tencent. The stake is worth more than Naspers itself. Investors aren’t impressed with Naspers’ operations in some markets. The mega firm is aggressively selling some assets, buying others and expanding online classifieds in new markets including the U.S., where it hopes to topple Craigslist.
Dana Sanchez, 12:57 pm
More than 70 percent of the world don’t have a street address, and sub-Saharan Africa leads. About 200 million people live in slums — home to the informal economy that is creating jobs. Big box stores like Cape Town-based clothing retailer Foschini Group are tapping in to the economic buying power of informal settlements. They’re coming up with innovative solutions to deliver e-commerce purchases to people who don’t have addresses.
Dana Sanchez, 9:39 pm
South African commercial property continues to present attractive investment opportunities to discerning investors, despite challenging economic conditions. There’s appetite for regional and super-regional malls, which enjoyed low vacancy rates in 2016 — 3 percent and 2 percent respectively — painting a positive picture of the economy. Johannesburg’s office market is a different story.
Dana Sanchez, 12:42 pm
While there is plenty of information available online about Airbnb’s growth in South Africa, not much is available on its progress throughout the rest of the continent. We know that Airbnb has 25,000 listings in South Africa, and more than half are in Cape Town. Marriott, meanwhile, is on track to have 205 hotels and 37,000 rooms in all of Africa after its six new African hotels are built. Three of the six new Marriott properties will be in Cape Town.
Peter Pedroncelli, 3:05 pm AFKI Original
The hotel industry in Africa is growing with opportunities and excitement, as investors make plans to enter the market while other more established players look to expand their footprint on the continent. Here are 12 things that perhaps you did not know about the hotel industry in Africa.
Kevin Mwanza, 6:00 am AFKI Original
The governments of Ethiopia and Djibouti opened a 752.7 kilometer electric railway, to serve the two horn of Africa neighbors. The railway will provide a faster transportation of goods and people between the two nations. It will also boost Ethiopia’s landlocked economy through the transport of cargo from the Port of Djibouti. The port handles about 90 percent of the imports into Ethiopia. Below are 10 things you need to know about the railway.
Kevin Mwanza, 10:53 am
The hotel industry will enjoy a boom in sub-Saharan Africa in the next three years, with East Africa leading the growth that will see about $3.6 billion worth of investment into the sector in the next two years. Tourism, diplomatic and non-governmental activities in the East African nations of Kenya, Rwanda and Ethiopia are leading the growth.
Kevin Mwanza, 4:34 am
Ethiopia has launched a $4 billion Chinese-funded electric train system today, the first in Africa, which will link the capital Addis Ababa to the Port of Djibouti — the entry point for more than 90 percent of the nation’s imports and exports. The railway line which is 752.7 kilometers long with a speed of 120 kilometers per hour will reduce transportation period between the two nations from ten to seven days
Dana Sanchez, 9:50 pm
For ambitious young U.S. soldiers seeking leadership, a deployment in Africa is hard to beat. And that means being based in Djibouti. Djibouti’s status as a stable country in an otherwise volatile region is an asset worth millions of dollars in rent. Djibouti enjoys a lucrative role as a landlord. The U.S. pays $63 million a year to rent its base at Camp Lemonnier. China is building a base 8 miles away, and will be paying $100 million for theirs.
Kevin Mwanza, 9:05 am
Hilton Worldwide, a leading global luxury hotel chain, will build its first modular and tallest hotels in Ghana and Kenya as it seeks to expand its presence in three more countries across Africa. The move is part of the hotel’s plan to increase its chains from the current 39 outlets to more than 80 in Africa, in the next five years. “We remain hugely committed to Africa across our portfolio of world-class brands, continuing to introduce our hotels to new markets across the whole of sub-Saharan Africa in the coming years,”
- Real Estate