Real Estate: Latest News
Ryan Hoover, 2:51 pm
Historically, Kenya’s KCB bank disbursed 200,000 new loans per year. Then along came mobile banking, and loan applications skyrocketed. The bank made nearly 4 million new loans in 2015. Most borrowers never walked through the bank door. They applied for a loan on their mobile phone. These were small loans — $25-$30. How does KCB manage to administer such small loans profitably?
Lillian Mutiso, 3:11 am AFKI Original
China has risen to become the single largest trade partner to many African countries. It is also a major source of financial support for various development projects being undertaken by African governments. Infrastructure development is a key pillar of the China-Africa relationship. In Africa, infrastructure projects awarded to Chinese companies are financed by their government through loans and grants.
Dana Sanchez, 10:18 am AFKI Original
Real estate companies are struggling with rising vacancies and unpaid rents in South Africa, and rent is relatively cheap. Rents compare favorably with similar properties around the world. There are extra costs you should be aware of. In a South African rental home, you may have to maintain the garden and hire a gardener — around $12 a day plus breakfast and lunch. A live-in maid might be part of the rental contract and that will cost around $154 a month.
Staff, 3:44 am
Today, Africa has the highest rate of urbanisation in the world and, with the share of Africans living in urban areas projected to grow from 36% in 2010 to 50% by 2030 Africa’s mayors have a big task. Additionally, they have to deal with a great deal of constraints in terms of a limited ability to affect change, small budgets, and urban violence. While how best to develop the continent’s cities is explored, there are mayors who are helping set the standard. So, who are these?
Staff, 2:45 am
The inflow of Chinese investments into Africa’s real estate sector has had a positive effect on the continent’s property sector, experts said on Thursday. Peter Welborn, Africa chairman of global real estate consultancy Knight Frank, told Xinhua in Nairobi that in some Africa countries such as Tanzania, there has been a lowering of office rent as a direct result of Chinese built commercial and residential houses. “Chinese investors have increased the supply of buildings and hence reduced the prices for rent,” Welborn said
Dana Sanchez, 4:55 pm
While the level of investment this year in sub-Saharan Africa is unlikely to exceed 2015’s $4.3 billion, private equity companies have been busy. They’re focusing increasingly on the continent’s fast-growing consumer markets and on funding infrastructure projects — especially energy. U.K.-based Enko Capital Managers announced the $83.25 million closing of its private equity Fund which targets late-stage companies across the continent that have the potential to list on local stock exchanges. Here’s a roundup of some of the private equity action so far in Africa in 2016.
Dana Sanchez, 11:45 am
Africa’s super wealthy have invested heavily in luxury homes, private jets, cars, bonds and equities. They collect wine, art, antiques, jewelry and classic cars, and are expected to do more of that in the coming decade. “Homes comprise an estimated 22 percent of assets owned by Africa’s super wealthy and they have allocated 33 percent of their portfolios to liquid investments such as bonds and equities,” according to a new wealth report.
Kevin Mwanza, 2:51 am
While most sectors of the Nigerian economy are strained under these challenges, the real estate sector is seen by analysts as the one industry that has potential for investors looking for a good return in Nigeria. According to Ruth Obih, chief executive at Lagos-based real estate consultancy firm 3Invest, the economic down turn offers the best opportunity for investors looking to buy in the west African nation.
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.
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.
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