[Nigeria Business Week] Andrea Ayemoba: Nigeria sets course to unify industry benefits, lead Africa's 5G
Following a turbulent year of stock market fluctuations, restrictions related to an ongoing pandemic and varying economic instabilities, predictions on Nigeria’s performance last year ranged from inferior to mediocre to excellent.
The World Bank has approved $150 million in financing to strengthen Tanzania’s land administration system and increase tenure security for at least two million land holders, users and their families.
A new neighbourhood in a Kenyan town is to spring into existence in record time thanks to a world beating 3D printing technology.
Egyptian businessman CEO and Chairman of Ora Developers, Naguib Sawiris has announced the signing of an investment deal with Abu Dhabi’s Chimera whereby Chimera, through its subsidiary, will subscribe to a capital increase in Gemini Global Development Egypt (“Gemini”) in return for a significant minority equity stake in Gemini.
It will launch its services in Egypt as a first step to penetrate other markets in the Middle East and Africa, considering Egypt as one of the most promising markets in the region, according to careful research studies carried out by the company's team abroad led by Ahmed Elbatrawy, the company’s chairman and founder of the new platform.
[Nigeria Business Week] Andrea Ayemoba: Industries unanimously look toward renewable, sustainable practices
The Covid-19 crisis has been cause for numerous economic slumps round the world; companies were shut down, production halted, industries crippled and prices skyrocketed the world over.
As one of the pioneers of property digitalisation, in South Africa e4 has established a significant client base including major South African lenders and law firms and has identified a similar opportunity in the UK market.
According to German real estate firm CPS, Kenyan investors form 30 per cent of all investors betting on the island nation.
The Capital Markets Authority (CMA) announced it has licensed Globetec Asset Managers Limited as a fund manager.
The Government of Gambia has increased its stake in Shelter Afrique after paying $19,218.96 in additional capital, the pan-African housing development financier disclosed.
Coldwell Banker - Egypt, a pioneer in real estate investment and marketing, has announced the launch of its new Franchise Program in Egypt for the first time.
Radisson Hotel Group and REALITES Groupe announced the signing of Lincoln Casablanca, a Radisson Collection Hotel, debuting Radisson Hotel Group’s third brand in Morocco.
National Bank of Kuwait - Egypt (NBK-Egypt) has provided a finance of EGP 850 million to Madkour for Projects Company, one of the national companies in the field of energy and infrastructure projects, for the purpose of carrying out the works assigned to the company by the Ministry of Housing.
The deal allows Beta Egypt customers to purchase luxury units making use of the long-term mortgages the bank will offer at an interest rate of 8.3 per cent, as part of the Central Bank of Egypt's (CBE) initiatives, along with a variety of QNB mortgage programs.
The onset of the COVID-19 pandemic not only affected people and communities, but also impacted commercial property values across the world. This report looks at the effect of the pandemic on property values in Africa.
Sotheby’s International Realty announced the opening of Morocco Sotheby’s International Realty, signifying the brand’s first office in Northern Africa. The addition brings the brand’s total number of affiliated offices in the EMEIA region to nearly 200.
Nomad Homes raises $20million to digitize residential real estate across Europe, Middle East and Africa
Nomad pairs technology with local customer service experts to equip home buyers with the confidence to buy their best home, resulting in the simplest, most customized home buying process from search, to financing, to signing.
Pan-African housing development financier Shelter Afrique has fully paid commercial debts owed to eight lenders, giving the company the leverage to underwrite new debt.
Is the corporate goal of an organisation solely to return a profit to its shareholders, or should it be purpose-driven and respond to wider societal needs at the expense of robust profits?
The intuitive platform will enable better sourcing decisions, faster cycle times as well as streamlined data processes for enhanced collaboration and supplier relationships.
Africa’s Property Technology (Proptech) sector is ramping up and is a key component of future strategies for local REITs, operators and others looking to future proof their real estate businesses.
Nigerian rental scheme company Rent4Less by Alpha Mead, announced it raised a fixed-rate series one $1 million private placement bond to entrench the culture of monthly rental in Africa.
TPT Global Tech announced it has entered into a strategic technology agreement with Skybridge West Africa (SWA), to participate in the development of 20 Smart Villages in West Africa.
IFC has partnered with pan-African finance organization Letshego, to increase access to affordable housing finance for thousands of individuals in Namibia with the potential to expand its partnership to other countries.
The Capital Markets Authority (CMA) has admitted Acorn Investment Management Limited to the regulatory sandbox for one year.
Fortress REIT launches R900m sustainability-linked bonds to scale up its renewable energy outputs in South Africa
Fortress REIT, South African hybrid fund investing in direct properties and other listed real estate companies, launched a total of R900 million sustainability-linked bonds aligned to its ongoing strategic ESG plan to scale up its renewable energy outputs.
Radisson Hotel Group announced the signing of Radisson Hotel Middelburg as part of the Group’s expansion plan in South Africa.
Jobomax launches new housing model to expand options for middle and lower-income buyers in West Africa
Jobomax, West Africa's homebuilder, announced its first model in the $10,000 - $20,000 price range, to expand options for middle and lower-income buyers.
The UN-Habitat signed a Memorandum of Understanding (MoU) agreement with Pan-African real estate development company TAF Africa Global (TAF), to provide one million affordable housing units in Africa in the next seven years.
The UK Climate Investments (UKCI) has committed £30 million and FSD Africa Investments (FSDAi) has committed £5 million to support green affordable housing projects in Kenya.
Tatweer Misr and First Abu Dhabi Bank, Egypt branches sign agreement to offer exclusive mortgage services
This partnership is in line with Tatweer Misr’s strategy to stimulate sales and facilitate the benefits of mortgage services, strengthening the overall purchasing power.
Acorn Holdings announced that Acorn Project (Two) Limited Liability Partnership, the Issuer of the Acorn Medium-Term Green Note (MTN) Programme, closed the final tranche, raising KES 2.096 billion against the target of KES 1.438 billion.
Knight Frank expands into Commercial Property Market in South Africa with Rennie Property partnership
Global real estate adviser Knight Frank has partnered with Rennie Property, one of South Africa’s most prominent and trusted commercial property specialists.
Skills development and empowerment of women in construction received a boost as real estate developer Gateway Real Estate Africa (GREA), handed over a donation of $40,000 (KES 4,328,000) to Buildher Kenya.
To help increase access to longer-term, affordable mortgages and housing in Tanzania, IFC subscribed to a corporate bond issued by the Tanzania Mortgage Refinance Company (TMRC), which was listed on the Dar es Salaam Stock Exchange.
World Resources Institute, with support from the Global Environment Facility, UN Environment Programme and World Green Building Council, among others, have launched the Zero Carbon Building Accelerator (ZCBA) to speed up the transition to zero-carbon, efficient buildings around the world.
He joins Barclays from JP Morgan Cazenove, where he has spent 22 years, starting as an Associate in its M&A team before taking over the management of the UK real estate team in 2016.
Investment by South African companies has topped $100 million at Tatu City. The 5,000-acre Special Economic Zone – located 30 minutes from central Nairobi – represents one of the largest concentrations of South African foreign direct investment in Kenya and East Africa.
KONE Corporation, a global player in the elevator and escalator industry, has won an order to deliver and install 60 custom-made elevators and escalators for the Iconic Tower building, located in Egypt’s new administrative capital.
Radisson Hotel Group announced the signing of Radisson Hotel Djibouti. The hotel marks the Group’s entry into the country and brings its East African portfolio to 18 hotels and over 2700 rooms.
The proposition seeks to increase mortgage uptake by prospective homeowners, offering options towards homeownership such as construction loans and home loans for self-employed individuals.
Teddy Kimani is the CEO and Founder of Vukaplus, a Kenyan-based classified ads company that provides an online platform for users to place ads for properties, cars, job vacancies, businesses and services.
Real estate developer SODIC partners with Orange Egypt to provide integrated smart solutions across all projects
Real estate developer SODIC has announced the signing of a partnership agreement with Orange Egypt, the provider of integrated telecommunications services in Egypt, to provide the latest integrated smart solutions across all SODIC projects.
IFC announced partnership with Kenyan firm Belco Realty to support the development of a mixed use affordable living complex that will consist of 1,379 residential units and over 4,500 square meters of retail and commercial space in Mombasa county.
Inertia, PayTabs Egypt and valU partner to provide e-payment solutions for home improvement financing
Inertia and EFG Hermes’ NBFI subsidiaries - PayTabs Egypt and valU, the buy-now pay-later platform (BNPL), have entered into an arrangement that will allow Inertia’s clients to process payments online.
To boost the development of affordable, quality, and resource-efficient student accommodation in South Africa for low-income students, IFC announced financing for a new investment platform managed by South Africa's Eris Property Group.
Kasada will rebrand the hotels utilizing the management skills, expertise and marketing resources available from its strategic partnership with Accor and its portfolio of renowned international hotel brands.
Shelter Afrique partners with Triangle Real Estate to develop housing units for South Sudan Defense Forces
The Project scope includes the development of 148 housing blocks of 160 housing units each at New Site, Qiada Junubiya, J-3 Presidential Guards Apartments, and at New Bonga.
The expansion of the franchise business means Chestertons’ geographic reach (in terms of physical office presence) has expanded from 15 countries in Q1 2020 to 21 today, an increase of 40%.
Standard Bank Group and the Massachusetts Institute of Technology's (MIT’s) Center for Bits have partnered on an innovative social upliftment project in Namibia that uses fungal material from mushrooms to develop housing and food products.
West Africa's provider of high-quality housing and housing finance solutions announced an updated logo and a return to its founding corporate identity as Jobomax.
Banque Misr has signed an 8and a half-year Modaraba Islamic financing with Inertia Egypt to grant the company EGP 1.1 bn, which will be used to finance the fourth phase of the company’s Coast project; Jefaira.
The Triple Play services provided by Orange inside Mountain View projects will include all residential units, allowing the highest possible Internet speeds up to 200 MB.
The agreement was signed by Eng. Adel Hamed, Managing Director and Chief Executive Officer of Telecom Egypt and Eng. Basil Ramzy, Chief Executive Officer of MARAKEZ for Real Estate Investment.
Novarick Homes and Properties was established in 2018 as a real estate development firm, providing housing and investment solutions in Lagos, Nigeria
Gateway Real Estate Africa (GREA), a private real estate development company specialising in turnkey construction in Africa, announced that it will build its first commercial office building in Ghana at Appolonia City
The new products comply with the company’s green criteria, including lower CO2 footprint and recycled content.
The Association of Real Estate Agents, AREA-Uganda, is an umbrella institution of real estate agency/brokerage companies, consultancy real estate firms, and real estate agency /brokerage professionals in Uganda that have key interests in real estate agency/brokerage.
The Johannesburg Stock Exchange (JSE), welcomed the first listed Social Bonds in South Africa to its Sustainability Segment.
Shelter Afrique and the African Solidarity Fund (ASF) have joined forces to enable the two institutions contribute more effectively to the economic development of their common member states.
Lafarge Egypt partners with National Research Centre to promote use of innovative construction materials
The National Research Centre (NRC) and Lafarge Egypt, a member of LafargeHolcim Group, have inked a Memorandum of Understanding, to promote the future of the Cement Industry in Egypt.
The Radisson Hotel Group has rolled out its first Radisson Individuals property in Africa, with the signing of Earl Heights Suites Hotel, a member of Radisson Individuals, Accra, Ghana.
AEEE Capital Holding & Advisory Group Inc (AEEE) has signed a $650 million deal to complete development and construction management of a 500-acre Phase II sector of the New Capital East of Cairo in Egypt.
East African planning, design, architecture and engineering team FBW Group is working with Fusion Capital, a real estate developers, to create a low-cost, affordable housing strategy in Kenya.
Orange Egypt and Tabarak Development transform real estate project 90 Avenue into an Integrated Smart Compound
Orange Egypt, a provider of integrated telecommunications services, has signed a cooperation agreement with Tabarak Development, the real estate developer in Egypt.
InfraCo Africa invests in Acorn Holding’s $10m REIT for affordable student accommodation in Nairobi, Kenya
InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has subscribed to the Acorn Holdings Real Estate Investment Trust (REIT) committing to support the delivery of affordable student accommodation in Nairobi.
Considering the annual remittance of about $24 billion from the diaspora, Novarick Homes, a property development company has unlocked new investment opportunities for this year.
Unity Homes, a developer of inclusive residential communities, and Rendeavour, Africa's new city builder, are expanding their partnership from Kenya to Nigeria with a 576-unit apartment complex in the Lekki Free Zone in Lagos.
The JSE listed specialist logistics property fund, Equites, announced it has sold two high-quality UK distribution warehouses to real estate funds managed by Blackstone for £43.4 million.
ChemPoint.com announced that allnex has chosen ChemPoint for marketing, sales, and distribution of the UVEKOL glass laminating system in Europe, the Middle East, and Africa (EMEA).
Homebuilding activity in the Africa/Mideast region will continue to be driven by urban population growth, increased standards of living, and – aside from 2020, when the region will see a recession brought on by the COVID-19 pandemic – healthy economic expansion.
CDC Group, the UK’s impact investor and development finance institution (DFI), announced a commitment to invest over $1 billion again in African businesses in 2021.
Wetherby Real Estate, which has been created to source and acquire luxury Serviced Accommodation in Prime Central London on behalf of global investors, has announced its launch.
Millat Properties, the South African real estate company, has announced the opening of Hyatt Regency Cape Town, the first Hyatt-branded property in the 'Mother City'.
PropertyGuys.com, one of Canada's celebrated PropTech pioneers announces its recent international expansion.
The Capital Markets Authority (CMA) approved the Acorn Student Accommodation Development Real Estate Investment Trust (ASA D-REIT) and Income Real Estate Investment Trust (ASA I-REIT) sponsored by Acorn.
The Capital Markets Authority (CMA) has granted approval to Centum Real Estate (Centum Re) to issue secured zero-coupon and secured zero-coupon equity-linked Medium-Term Notes of Kshs4 billion, with a green shoe option of Kshs2 billion.
American Homebuilders of West Africa, AHWA, has announced that it had closed on an acquisition of new land in Maneah in the Conakry suburbs.
The Capital Markets Authority (CMA) has approved the grant of a Real Estate Investment Trust (REIT) Manager license to Acorn Investment Management.
Housing Finance Bank Uganda and Agence Française de Développement signed two financing agreements of €10.5 million to support the development of a housing finance offer adapted to the needs of the populations all over Uganda.
South Africa's Fintech firm, e4 has announced the appointment of Ian Bayne as Managing Executive of the Proptech division.
Ingressive Capital, a $10 million VC fund targeting early-stage startups across Sub-Saharan Africa, announced its investment in Nigerian rental financing startup Kwaba.
Shelter Afrique Board has approved the development of the Kinyinya Park Estate Project- a 10,000 integrated and sustainable large scale housing project in Kigali.
Pan-African housing development financier Shelter Afrique has entered into a strategic partnership with the World Bank aimed at addressing the affordable housing crisis evident across the continent.
In Africa, U.S water-innovation company Crystal Lagoons totals 29 real-estate projects anchored by crystalline lagoons, and is now breaking into the African market with its revolutionary Public Access Lagoons.
Pan African housing development financier Shelter Afrique has received $9.4 million from the Federal Republic of Nigeria, being the first tranche of the $29.3 million the country has committed in additional capital subscription.
The Board of Directors of UAC Nigeria announced a binding agreement has been signed with Custodian Investment to purchase a 51 percent equity interest in UACN Property Development Company (UPDC) from UAC.
The World Bank approved a $150 million International Development Association credit to improve tenure security and access to basic services for 1.7 million residents living in selected Kenya’s urban informal settlements.
Vantage Capital announced that it has provided R82 million of mezzanine funding for the development of Kayalane Heights, a first-of-its-kind affordable housing development located in Lebowakgomo, Limpopo.
Across Africa, affordable housing is in acute short supply. It is one of the reasons why lockdowns and social distancing during the COVID-19 pandemic are unimaginable and unsustainable.
Safaricom and the National Social Security Fund (NSSF) have announced a partnership to empower customers on the NSSF Tenant Purchase Scheme make monthly installments through M-PESA.
Dr.3pleA Company is a tech startup domiciled in Nigeria that offers a host of services among them HR Management consulting, e-learning and provision of information on investment in real estate.
The UK Prosperity Fund, in partnership with Future Cities South Africa is launching their Future Cities Programme in three of South Africa’s major city municipalities; Cape Town, Johannesburg and Durban.
Oluwatosin Dada is the CEO of Dadus Properties, a Nigerian real estate startup of property development and management consultants.
Banque Misr signed a cooperation protocol with the Social Housing Fund, Real Estate Finance and Misr Express for Development and Trade (Zaher), to fund for housing units for low-Income earners in Egypt.
The Monetary Policy Committee (MPC) lowered the Central Bank Rate (CBR) to 8.25% from 8.50%, citing a backdrop of domestic macroeconomic stability, potential risks to food supply and increased global uncertainties.
Cytonn Investments launched the first Home Ownership Savings platform within a regulated collective investment scheme, Cytonn Affordable Housing Investment Plan (CAHIP).
Real estate firm, Mizizi Africa Homes has announced plans of deploying big data to boost efficiency of its operations and offer custom solutions to prospective homeowners.
American Tower aquires Eaton Towers, enters agreement to acquire JV stakes in Ghana, Uganda from MTN
American Tower Corporation has announced that it has closed its previously announced acquisition of Eaton Towers Holdings, adding approximately 5,700 communications sites to its African portfolio.
Kenyan President Uhuru Kenyatta launched the first project as part of an ambitious 100,000 affordable homes agreement between the government of Kenya, UNOPS, and Sustainable Housing Solutions.