Real Estate: Latest News

  • Africa Writhing: 5 African Economies That Are Beating The Odds

    Importing power from South Africa will boost DR Congo's copper production. By Dana Sanchez, 1:03 pm

    Copper-rich Democratic Republic of Congo is vying with Zambia to be Africa’s top producer. A new hydropower facility that the DRC government is planning to build could help shape Africa this century. It is one of DRC’s strategies for providing the energy it needs to free its economy. These aren’t the largest or most developed countries in Africa. Some are plagued with corruption and inequality. All have fast-growing economies.

  • Shopping Malls Construction On The Rise In Nigeria, South Africa On Decline

    Palms Shopping Mall, Lagos By Kevin Mwanza, 2:52 am

    Construction of shopping malls in Nigeria, Africa’s largest economy, is on the rise, while in South Africa development of new malls has tremendously declined. Despite its large economy and high population – over 170 million people – the West African oil producing nation has lagged behind on the shopping mall construction craze that hit the continent over the last decade.

  • How A Young African Leader Plans To Fix Nigerian Affordable Housing Shortage

    Nigerian affordable housing By Ann Brown, 11:11 am AFKI Original

    Amaka Nwaokolo believes innovative building technology can help lower rental rates. Her idea earned her a spot in Obama’s coveted Young African Leaders Initiative. Nwaokolo had 6 weeks of entrepreneurship training at Yale University. She found the leadership sessions particularly empowering and useful back home. “They focused on developing me as an individual,” she told AFKInsider. But sometimes there was a disconnect between U.S. and African realities. “It was shocking to see how little was known of Africa. It felt good changing and shaping perceptions.”

  • Why Is Mara Delta Investing In Real Estate In Troubled Mozambique?

    Mara Delta By Dana Sanchez, 1:49 pm

    Some property developers are rethinking their investment strategies in Mozambique, which is mired in a debt scandal and economic crisis. But a long-delayed offshore gas project could be approved within months, triggering investor confidence. Property fund Mara Delta plans to invest $110 million in Mozambique, acquiring four more properties. It already has six. “There’s definitely been more urgency on the government side to get these gas deals moving,” an industry source said.

  • Construction Of New Hotels In Africa Unfazed By Commodities Slump

    Construction of New Hotels By Kevin Mwanza, 7:11 am

    Africa’s leading economies are enjoying a surge in the construction of new hotels despite a slowdown in growth due to a global commodity prices slump, an annual survey by W Hospitality Group Hotel Chain Development showed. According to the report, Angola, Nigeria, Egypt and Kenya have seen their hospitality industries pick up as the hotel construction boom reached the highest since a 2009 peak. It estimated that in 2016, about 64,000 rooms are planned for construction in 365 hotels across Africa.

  • Luanda: End Of Oil Money Threatens ‘Africa’s Dubai’ Ambition

    Luanda By Kevin Mwanza, 6:08 am

    And with this growth came a construction frenzy as old building built by the Portuguese during the colonial era got razed down and replaced with modern skyscrapers and five-star hotels that earned Luanda the name ‘Africa’s Dubai’. For years, Luanda has been effervescent with new constructions, where Chinese laborers worked night and day to give the city a new look. That was until the oil money started drying up in late 2014.

  • 8 Of The Most Expensive Buildings In Africa

    By Julia Austin, 9:24 am AFKI Original

    Not all of the most expensive buildings in Africa are hotels. Some were built to serve the public. The Chinese Government sponsored the development of the African Union Conference Centre and Office Complex, headquarters of the African Union. The building is just over 327 feet tall making it the tallest building in Addis Ababa, Ethiopia, and one of the most expensive in Africa. With a price tag of $200 million, it was a high-profile move in China’s continuing effort to strengthen bonds in Africa.

  • Africa Property Not For The Faint-Hearted But For The Talented

    By Staff, 4:53 am

    African countries offer exciting returns for property investors if they do their homework and study each market. South African real estate investment trusts are looking for strong returns offshore and some opportunities may lie in Africa. A panel discussion at the South African Property Owners Assocaition (Sapoa) Convention said that markets outside of South Africa were full of opportunities. The conference was recently held at Sandton Convention Centre in Johannesburg.

  • South African Investments In UK Properties Jump 400% As Rand Tumbles

    By Kevin Mwanza, 6:03 am

    South African investors have increased their investment in UK properties by nearly 400 percent in the last 18 months as they try to safeguard their future against a volatile rand, Cape Business News reported. Africa’s super rich are know to be big investors in luxury properties in London, but an increase in South Africans buying real estate in the European nation has sparked interest from property specialists.

  • 80% of Foreign Investment In Mauritius Is Real Estate

    By Dana Sanchez, 8:51 am

    The Mauritius government expects foreign direct investment to increase as much as 46 percent in 2016 based on projects that have already been secured. The U.K.’s decision to leave the European Union may hurt or help that projection. The U.K. is the No. 3 source of real estate investment in Mauritius. UAE is No. 2 and France is No. 1. With the renegotiated Mauritius-India tax treaty, Mauritius is still a great holiday destination, just not to dodge taxes in India, an Indian publication reports.

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