Tag Archives: Commercial Real Estate
Commercial Real Estate: Latest News
Dana Sanchez, 2:22 pm AFKI Original
Shopping is changing in Africa. Formal retail developers are learning from the failures of malls in developed markets like the U.S., and applying new models to old ideas. African micro enterprises and small businesses will have a greater demand for shared space and flexible office space in the future. New or existing African office developments will need to apply design principles used in innovation labs, incubation centers and flexible work spaces, a stakeholder said.
Dana Sanchez, 4:08 pm
Nigeria has a housing deficit of 17 million units, but most investors in Nigerian real estate prefer commercial rather than residential development, BusinessDayOnline reports. South African investors have been visible in most sectors of the Nigerian economy for the last decade. Right now, they’re all over retail mall development. “We are not discouraged by anything,” said Dieter Boshoff, leasing adviser for South African developer RMB Westport.
Dana Sanchez, 2:42 pm
While individual private investors focus on residential developments, institutional investors are buying commercial real estate In Nairobi. Kenya has just 20,000 mortgages but that hasn’t stopped locals from buying and investing in real estate. Most use alternative financing sources like savings and credit coops and investment groups. “Kenyans love real estate,” a local Realtor says.
Makula Dunbar, 4:51 pm
When it comes to commercial property, 40% of the purchase price must be raised by the borrower, with the remaining 60% being loaned by a financial institution.
Makula Dunbar, 2:42 pm
In the next 16 months Ghana will be home to a US $93 million shopping mall which would occupy a area of 27,000 square meters, and house 67 local and international shops.
- Real Estate