Tag Archives: Construction
Construction: Latest News
Kurt Davis Jr., 11:08 am AFKI Original
The economic downturn did little to stifle demand for African real estate. Some of the biggest returns and opportunities exist in rental properties, from beachfront getaways to hidden villas. Affordable housing is a major challenge for governments. Private investment is seen as a solution. Developers, private investors, and ordinary people can play a role in addressing the construction gap in the real estate sector and make a good return while doing so.
Dana Sanchez, 10:46 am AFKI Original
Currency depreciation and rising inflation have made investing a challenge in some African countries. A global private-sector development group identifies four African countries that have potential for climate-smart investment. These investments will make energy more accessible and infrastructure more resilient as climate change threatens to undermine developmental gains. South Africa is ahead of the game. With 90% of its electricity from coal, SA has approved 79 renewable energy projects by independent power producers. The cost of wind and solar has decreased more than 70%, and is now competitive with new-build coal, IFC reported.
Dana Sanchez, 10:54 pm
Nigeria and Angola, the two African countries hit hardest by falling oil prices, have the highest number of hotels in the development pipeline this year. Zimbabwe-listed hospitality group African Sun laid off nearly 250 employees citing dwindling tourist numbers, lower room rates and the country’s deteriorating economic environment. About a third of the hotel deals signed between 2009 and 2013 haven’t materialized, mainly due to lack of financing. Carlson Rezidor is one that’s delivering.
Dana Sanchez, 5:18 pm
Industrial and commercial sectors in South Africa sent their executives on fewer business trips in 2015, including those in mining and construction. Renewable energy executives significantly increased business travel. It wasn’t just in Africa. Construction companies are under pressure globally and business travel decreased in 2015 for construction-related business, an African stakeholder said.
Keren Mikva, 2:00 am AFKI Original
The cost of hosting the World Cup has been the topic of much controversy. The 2006 World Cup in Germany was one of the few that was considered financially successful for the host country, costing $1.6 billion and creating a $194 million in net revenue for the organizing committee. Germany already had a plethora of stadiums that met FIFA’s capacity requirements and chose 12 stadiums in 12 different cities to host the event. It remains the ideal example for World Cup hosts, but its success has yet to be replicated since.
Staff, 11:00 pm
Rapid African urbanization is affecting many cities, increasing demand not only for houses, but improved infrastructure, retail and commercial spaces. According to the World Bank, 65 percent of Ghana’s population will move to urban areas by 2030. This creates a huge opportunities for real estate developers to provide access to affordable housing in livable cities.
Dana Sanchez, 11:51 am
Facing an energy crunch, South Africa needs six new nuclear power plants and has begun the procurement process to add 9,600 megawatts of power by 2030, Energy Minister Tina Joemat-Pettersson said. South Africa has signed nuclear power deals with the U.S., China, Russia, South Korea and France. All the nuclear vendor countries interested in participating in the nuclear construction program have come forward, she told parliament.
Staff, 11:58 am
Deloitte says investment in African megaprojects surged 46% to $326bn last year led by heavy investment in transport, energy and power distribution. That far exceeds the $93bn the World Bank says Africa needs each year for infrastructure development, including one-third of that amount for maintenance.
Staff, 7:50 am
The five-storey building in Tena on the east of Nairobi, Kenya’s capital, is tiled from top to bottom, giving it a classy look that should appeal to tenants. However, despite being finished close to four months, the flat with 20 two-bedroom houses is yet to be fully occupied, with nearly half of the units remaining empty.
Staff, 12:20 pm
Kenya’s National Housing Corporation, a government agency for developing residential houses, plans to issue a 5 billion shilling ($54.53 million) bond this year, a local newspaper reported on Monday. Business Daily quoted the firm saying proceeds from the issue, which will be listed on the Nairobi bourse, will be used to fund the construction of news homes in the capital and two other cities.
- Real Estate