Africa > Real Estate

Real Estate in Africa

  • Moves afoot to facilitate home ownership in Ghana

    GHANA, 2017/04/06 Home-ownership drive Speaking to local media in January, Samuel Atta Akyea, the minister for housing and works, said the government planned to set up a fund to subsidise the cost of housing for low-gain earners. Atta Akyea as well announced that the Ministry of Housing and Works (MoHW) is considering setting up a bank for the housing sector to help with the government of the fund, which itself will support the restructuring of the existing home loan system to ensure that mortgage repayments are affordable. With a new proposal to fund affordable housing on the table, along with a previously mooted abolition of the value-added tax (VAT) on property sales, the 2017 outlook for Ghana’s housing market has brightened.
  • Real estate: Although real estate in Ghana has slowed down, REITs hold potential

    GHANA, 2017/01/14 Ghana’s emerging real estate sector contributes significantly to the development of the economy as far as housing is concerned. The government has helped to establish the Ghana Real Estate Developers Association as an initiative for public and private sector participation in housing investment and delivery. The association was formally inaugurated on October 28, 1998 under the laws of the country as a private company limited by guarantee.
  • Djibouti seeks public and private solutions to social housing shortfall

    DJIBOUTI CITY, 2016/11/24 Government authorities are looking to partnerships and new programmes in a bid to address Djibouti’s affordable housing deficit. In mid-September President Ismaïl Omar Guelleh announced a social housing plan that will provide 20,000 units, funded by grants from multiple donors, inclunding Saudi Arabia, Kuwait, Morocco and China. While the total price of the programme has from presently on to be disclosed, the completed housing units are expected to cost tenants between DJF15,000 ($84.40) and DJF40,000 ($225) per month, according to press reports.
  • Mara Delta to invest $110m more on property in Mozambique

    MAPUTO CITY, 2016/07/27 On Monday it will invest a further $110m in Mozambique by acquiring an additional four properties, and the second stage development of its Anadarko building. The company has, since 2014, invested in six commercial properties in Mozambique, valued at $160m. “We are confident of the long-term increase prospects in Mozambique. The challenges that the country faces are not incomparable to emerging economies and we are continuously engaging with the Banco de Moçambique on these matters.
  • Gabon moves to solve housing deficit

    GABON, 2016/06/19 With general elections scheduled for late August, the government of Gabon is looking to accelerate evolution on building social housing units to narrow the country’s sizeable housing gap. The level of urbanisation in Gabon – the highest in Africa at 86.9% in 2014 – has outpaced residential real estate development, resulting in an estimated housing deficit of around 200,000 units, inclunding 160,000 in Libreville alone. In response, President Ali Bongo Ondimba’s government has declared housing a key priority in terms of capital spending, pledging to construct some 35,000 affordable homes over seven years, although the roll out of new housing stock has faced delays.
  • 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.
  • 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
  • Namibia: FNB Housing Volume and Value Index Retreated

    NAMIBIA, 2016/02/08 In the new FNB housing index Daniel Kavishe, Market Research Manager, FNB Group advises that the FNB volume and price index retreated in the eve of the fourth quarter 2015 as the housing market eased across the country. He added that the deeds office recorded a 40% drop in transactions year-on-time(y-o-y) due to a slowdown in purchases in the Northern and Central town. Transaction increase at the Coast remained steady at 10% y-o-y supported by development in Swakopmund while in the South, transactions at Luderitz doubled due to the low cost developments in Luderitz's Benguela area.