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Real Estate in East Africa

  • Malawi: Funding Delays Affect Malawi Red Cross Society's Construction of Model Houses

    MALAWI, 2016/04/28 Malawi Red Cross Society has admitted they are from presently on to complete construction works of some model houses which they showcased in August, 2015 in Chikwawa district meant for the people who were relocated to safer places during the January 2015 floods. The organisation's Communications Manager, Felix Washon said since November 2015, they have not been receiving funds from the donor who made the commitment to support the construction of such model houses. "At the same time as we were at recovery stage, with our donor International Federation of the Red Cross and Red Crescent, we agreed to construct model houses which are resilient to flooding. The donor made an appeal to international community for their support and nations made pledges.

  • Kenya’s residential property market shifts to multi-unit housing

    KENYA, 2016/03/25 While housing prices in Kenya’s residential real estate market stabilised late last year, land costs have seen significant increases, indicating a rise in request for apartment units. According to the new housing price index from the Kenya Bankers’ Association, released at the end of January, average housing prices edged up by just 1.14% in the last three months of 2015. This marked the third consecutive quarter with a less than 2% period-on-period increase. Across the board

  • The Institute of Certified Public Accountants of Kenya

    KENYA, 2014/06/12 The Institute of Certified Public Accountants of Kenya will commence the second phase of the CPA Centre in December, adding hostels and apartments to its portfolio. ICPAK said request for residential space on Thika superhighway has increased necessitating such a project. The Sh450 million development is located within KCA University. \"We will demolish the facility that we have rented to Standard Chartered Bank in order to pave way for construction of phase two which includes hostels and apartments,\" said Benson Okundi, the ICPAK chairman. "We are targeting students or anybody else who would want accommodation."

  • international Companies Called Upon to Accelerate Housing Projects in Ethiopia

    ETHIOPIA, 2014/05/21

  • THE government has set aside 20bn/- for construction of teachers' residential houses in 40 municipalities countrywide.

    TANZANIA, 2014/05/20 THE government has set aside 20bn/- for construction of teachers' residential houses in 40 municipalities countrywide. Answering a question from Lolesia Bukwimba (CCM-Busanda), who wanted to know the measures being taken to address the acute shortages of teachers' houses, the Deputy Minister (Local Government and Regional Government), Kassim Majaliwa, said that the money will be spent on the project this financial year. He told the National Assembly that they have as well come up with a appropriate strategy that will see to it that teacher's houses are constructed annually in phases.

  • Kenya presents the best opportunity for real estate investments

    KENYA, 2014/05/15 Kenya presents the best opportunity for real estate investments over the next 12 months, according to majority of participants in a continental property forum in Nairobi slated for mid-next month. The country is seen as a hub in East Africa, and the emerging oil and gas industry presents a fortune for early movers, according to the experts interviewed by Africa GRI 2014\'s organisers. \"There is a lot of interest in East Africa and particularly Kenya as the country emerges as the business, telecommunication and travel hub in sub-Saharan Africa,\" said Njoroge Ng\'ang\'a, chief executive of NSE-listed Home Afrika Ltd.

  • Bidders offered eight times the fear price for condominium shop in lideta

    ETHIOPIA, 2014/03/19 Addis Abeba Housing Development Projects Bureau has earned 284.8 million Br from the sale of condominium shops, in Lideta, in a process that had bidders offering additional than eight times the floor price. The bid opening at the Arat Kilo Sport and Gymnasium Centre, on December 8, 2012, for the Bureau’s offer, on October 30, to sell 150 shops, ranging from 20sqm to 117sqm, attracted 14,000 bidders. The Bureau subsequently announced 149 successful bidders, on Saturday, January 5, 2013.

  • Addis Abeba has only finished 27.5pc of work for the 20/80 condominium project

    ETHIOPIA, 2014/03/19 Addis Abeba has only managed to finished 27.5pc of work for the 20/80 condominium project and 13.5pc for the 60/40 project, over the completed 18 months. The Statement came at the Seventh National Urban Development, Housing & Construction Sector Conference, held at UNECA from March 10 to March 12, 2014. It was at the beginning of 2012/13 that the government began the construction of 107,731 houses. Housing projects in Addis Abeba have consumed 33.7 million dollars for the import of reinforcement bars over the last six months. A letter of credit amounting to 27.3 million dollars has been opened for the import of reinforcement bars, PVC and other accessories, according to the Statement.

  • Real Estate Appraisers Discuss Way Forward in Rwanda

    RWANDA, 2013/10/27 Real estate prospectors from around Africa are in Kigali for a four-day conference entitled 'unleashing the price of the African real estate' to discuss how to improve their careers. Victor Akujuru, the President of African Real Estate Society (AfRSES), said that the conference gives real estate agents a platform to collaborate as peers. According to Egide Gatsirombo, the chairman of Institute of Real Property Valuers (IRPV) in Rwanda, the conference is luck to share expertise with their colleagues on the continent. "There will be networking with other experts and will help us improve our career," he said.

  • Global Commercial Investments Exceeding Forecasts

    EUROPE, 2013/10/08 World commercial real estate volumes were 16 % higher during the initial three quarters of 2013 compared to the same period last year, as the market continues to surpass expectations. Direct commercial world real estate investments reached $125 billion during the third quarter, increasing three % from the previous quarter and 25 % from last year, according to Jones Lang LaSalle, which tracks 60 nations and additional than 130 world cities. World transaction volumes have been higher than $100 billion for six consecutive quarters, prompting JLL to increase its 2013 projected transaction volumes from $450-$500 billion to $475-$500 billion.
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