Tag Archives: Property
Property: 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, 10:35 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.
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.
Dana Sanchez, 6:15 pm
About 90 percent of land in rural Africa is undocumented or unregistered. Lack of a single ledger increases fraud and impedes foreign investments, according to creators of a U.S. blockchain app. Land that does not have a functional title cannot be used as capital. Securing a mortgage to build or purchase homes is not possible. The app is being used in a pilot project in 28 Ghanaian communities. Bringing clarity to land ownership rights will open up trillions of dollars in locked capital, a stakeholder said.
Lillian Mutiso, 6:55 am AFKI Original
Ethiopia, a landlocked country in the Horn of Africa with a population of about 96 million people, has one of the fastest growing economies in Africa with an average 10.3 percent growth in recent years. Despite this high growth, the world Bank ranks Ethiopia 104th out of 183 countries on its East of Doing Business Index. Regulatory hurdles, legal threats to property, and the time and money spent on registering a business are some of the issues.
Staff, 4:48 pm
The International Development Association (IDA), the soft loan agency of the World Bank Group is providing Tanzania with $60 million to fund affordable housing. Philippe Dongier, the World Bank Country Director for Tanzania, Burundi and Uganda said last week, “Tanzania’s rapid urbanization in recent years has underscored the urgency to improve access to finance for affordable housing.
Makula Dunbar, 6:21 pm
What usually takes months to construct, now takes weeks with new methods and building materials that Nigeria’s Tempohousing is using. A shortage of construction supplies has drawn the company to the country which is a playground for innovative, unique living spaces. “Our solution, compared to traditional concrete, is about 25 to 30 percent cheaper than if you built the same structure using concrete.”
Staff, 12:24 pm
Seychelles residential and commercial properties have earned recognition at the recent International Property Award held in Dubai. The London based International Property Awards (IPA) assesses and awards the best developers worldwide. The projects submitted are first judged on a regional basis after which the best are eligible to represent their respective regions and stand a chance to win an International Property Award.
Dana Sanchez, 6:24 pm
Russians are newcomers to the South African property scene. Local Cape Town real estate agents say wealthy Russians have been buying multi-million-dollar homes along the coast in the last several years. The Russian elite are major travelers, ranking fourth globally in annual tourism spending, MoscowTimes reports. After President Vladimir Putin began to tighten restrictions in 2013 on the freedom of the Russian elite to move their money around, Russians may now be motivated to move their assets more permanently overseas.
Makula Dunbar, 1:13 pm
Botswana’s directly held investment property for commercial and residential sectors produced a total return of 21.4% last year, which is an improvement from 18.1% recorded for 2012, a study has revealed. According to the Investment Property Databank (IPD) Botswana annual property consultative index
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