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Real Estate in North Africa

  • REITs to drive commercial real estate growth in Morocco

    CASABLANCA, 2016/06/11 The roll out of new investment vehicles is helping stoke growth in Morocco’s commercial real estate sector. Last year Morocco passed legislation allowing for the creation of real estate investment trusts (REITs). Under the law, REITs are required to invest at least 60% of their assets in real estate, while the remainder can be invested in other assets to help diversify their investment portfolio.   In early 2016 the European Bank for Reconstruction and Development (EBRD) joined forces with Moroccan retail distributor Label Vie Group by investing in its retail real estate subsidiary Vecteur LV (VLV). The aim of both the EBRD and Label Vie is to launch the country’s inaugural REIT and attract more investment in Morocco’s real estate sector. 

  • PACT Real Estate Group PACT to create ‘new destinations for new generations’ in Egypt

    EGYPT, 2016/05/26 The Worldfolio’s preview of an interview with Moaaz Wessam Eldin, Managing Director of PACT Real Estate Group, provides a glimpse into some of the topics he discussed with United World about Egypt’s uniqueness, its current economic national, and the immense opportunities available in its real estate and construction sectors, typified by PACT’s flagship smart home project, White Bay, in Sidi Heneish on the North Coast. Egyptian character: Egyptian millenarian history and its deep and diverse culture pretty much explain the resilient nature of the people to overcome difficult times and move forward.

  • The private sector has focused primarily on high-end and housing for the poor

    EGYPT, 2016/01/06 The Ministry of Housing has collaborated with the Division of Real Estate Investment working within the General Federation of Chambers of Commerce to form a committee. It will be tasked with establishing of 500,000 units of middle-class social housing, according to a statement released by chief of the division Mamdouh Badr El-Din Saturday. Badr El-Din explained that the committee has begun work by examining sites and cities in which the units can be established. The committee is as well considering mechanisms to implement and finance the project with the aim of providing affordable prices while not compromising on quality.

  • Two-tiered real estate demand in Egypt

    EGYPT, 2015/12/20 With economic increase steadily picking up, real estate developers in Egypt are looking to opportunities at opposite ends of the real estate spectrum, with a range of both affordable and luxury housing projects in the pipeline. Affordable demands Despite increase in supply in recent years, developers see significant untapped request in the market. “Residential request is driven by very strong underlying demographics across all gain segments,” Magued Sherif, managing director of developer SODIC, told OBG. “The accumulated housing gap is reported to be 3m units, with an additional 300,000-500,000 units carried over each year, compared to the less than 20,000 units delivered per annum by private developers.”

  • 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.

  • World Habitat Day: UN officials call for improved urban resilience, mobility

    WESTERN ASIA, 2013/10/08 Un officials have stressed the need to ensure that cities become additional resilient to natural disasters inclunding provide their citizens with methods of alternative transportation to thrive. The PANA Correspondent in New York reported that the officials made the call in messages to mark the World Habitat Day, observed annually on the initial Monday of October. In his message, UN Secretary-General Ban Ki-moon stated: 'As the effects of climate change increase, urban resilience becomes ever additional necessary.' He said: 'All actors need to work together to save lives, protect assets and guarantee services at the same time as disasters strike', saying that, 'planning is essential to boost the resilience of cities.'

  • Egyptian billionaire Naguib Sawiris

    EGYPT, 2013/10/07 Egyptian billionaire Naguib Sawiris, part of the Orascom family conglomerate, is planning to build three five-star hotels in the island country of Grenada. Mr. Sawiris met with Prime Minister Keith Mitchell during a recent visit to discuss investment in Grenada's tourism and hospitality industry, according to a government statement. St. George, Grenada The telecom mogul, worth $2.5 billion according to Forbes, has by presently purchased beachfront property and Silver Sands Hotel, a popular hotel in Grenada before damaged by a hurricane in 2004, the Caribbean Journal reports.

  • Construction quality control in every wilaya

    ALGERIA, 2012/12/19 To adequately cover the whole country, the national organisation is divided into major territorial bases: North, South, East, West, and the additional industrialised Centre, or ‘Chlef’ region. Each wilaya (territory) has at least agency, with additional offices in larger cities, such as Algiers which has branches, to meet request. “We act like a quality control office, such as Bureau Veritas,” says Mohamed Cherif, CEO of the CTC Centre. “Our major mission is to control a project from upstream to downstream. First the project’s conception and design are looked at and then we give our quality stamp on the execution plan; these steps represent the study stage. The second phase is the implementation of the project. We intervene to check the work on site complies with the plans we approved.”

  • Real estate development in Algeria

    ALGERIA, 2012/12/19 Amount construction was a national monopoly – from land acquisition and project evaluation to environmental impact studies, building and delivery to the buyer. A law in 1986 changed this landscape, opening the door to the private sector and allowing it to participate in real estate projects and help raise the supply of housing in a country where request vastly outstripped supply.

  • Moroccan Group Wins Housing Deal in Côte d’Ivoire

    MOROCCO, 2012/12/08 Moroccan real estate group Alliances Développement Immobilier (ADI) has won a housing transaction under which it will build some 7000 dwellings in Côte d’Ivoire, mainly in capital city Abidjan and surrounding areas. The transaction related partnership agreement was signed previously this week in the World Bank headquarters in Paris on the sidelines of the meeting of the Consultative Group on Côte d’Ivoire’s National Development Plan (2012-2015).
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