Real Estate: Latest News
Dana Sanchez, 9:39 pm
At 17,057 feet, Mount Kenya gets less attention than its taller counterpart, Mount Kilimanjaro, but Africa’s second-highest mountain offers everything its bigger neighbor does, and then some. The area around the foothills is emerging as a hot spot for residential and commercial real estate. The focus of Mount Kenya Wildlife Estate is the wildlife, with houses clustered around waterholes and salt licks, and views of the Mount Kenya. The development consists of 100 holiday homes on 1,000 acres. Most houses have sold for $330,000 each.
Dana Sanchez, 1:39 pm
There is a gap for hospital services in Africa and property investors can benefit from this with healthcare real estate investment trusts, an expert says. A REIT is a company that owns, and in most cases operates, income-producing real estate. Large hospital owners like Netcare or Life Healthcare in South Africa could sell hospitals to a property manager who runs a healthcare REIT. The REIT would then lease them back. REITs provide investors with a liquid stake in real estate, special tax considerations and typically high-dividend yields. In more mature markets, healthcare REITs are often popular investments.
Peter Pedroncelli, 2:33 am AFKI Original
African business leaders make use of social media to communicate with and mentor their followers, dropping pearls of wisdom in under 140 characters. From South Africa to Nigeria, the high profile personalities and multi-millionaires from Africa offer their opinions on many issues while advancing their own agendas through social media. Here are 12 African business leaders worth following on Twitter.
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.
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