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Eris and Momentum Allocate over $308m to West African Real Estate Investments

Momentum and Eris Property Group have allocated over $308 million for real estate investments in West Africa during the 1st Quarter of 2016. The Momentum Africa Real Estate Fund, which is targeting an 18% minimum return over its eight year life, has confirmed that they will be making two investments in Ghana and two investments in Nigeria. The fund […]

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South African Retailers Have Spent Over £1.85bn Buying their European Counterparts

In the past 10 months, South African retailers and investors have spent over £1.85 billion on the acquisition of retail chains within Europe. Brait SE, a South African owned investment company started the trend when they acquired British fashion retailer New Look for £780 million in May last year. Truworths International followed when they agreed to buy a majority stake […]

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Development: 335 Place, North Dzorwulu, Airport Area, Accra – Ghana

Name: 335 Place; Location/Address: North Dzorwulu, Airport Area Accra Ghana; Size: 11,047m²; Floor Plate Size: 1,250m²; Use: Office; Floors: 14; Developer: Momentum Africa Real Estate Fund (MAREF) and 335 Place Limited (Local Partner) Project Duration: Jun 2016 – Jan 2018; Cost: $45 million; Development Managers: Eris Property Group; Project Managers: GHC Africa; Architects: Boogertman & Partners, Local […]

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Development: The Union, West Ridge, Accra – Ghana

Name: The Union; Address: Castle Road, West Ridge Area, Accra Ghana; Size: 11,909m² (excluding – 4th Floor Deck); Floor Plate Size: 1,510m²; Use: Office & Retail; Floors: 12; Developer: Momentum Africa Real Estate Fund (MAREF); Project Duration: Jun 2016 – Jan 2018; Cost: $43 million; Development Managers: Eris Property Group; Project Managers: GHC Africa; Architects: […]

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Protea Announces Two Additions to Uganda Portfolio

Protea Hotels, a member of Marriott International, recently announced the signing of contracts for the development of two new hotel properties in Uganda. This brings the Protea Hotels presence in the country to four sites, with an existing 70-room Protea Hotel in Kampala and the 73-room Protea Entebbe Resort in Entebbe. The new additions, Protea Hotel Naguru Skyz […]

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GIC Invests in Africa through Actis and RMB Westport

The Government of Singapore Investment Corporation (GIC) has made its initial commitment to African real estate with its investments in two of the region’s largest firms; Actis and RMB Westport. According to an exclusive release from PERE, the Singaporean sovereign wealth fund whose real estate division is considered aggressive compared to other sovereign wealth funds […]

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Resilient Africa Slows Development of Malls in Second-Tier Nigerian Cities

South Africa’s fourth-largest REIT, Resilient has slowed down on plans to build 10 shopping centres in Nigeria. In 2012, Resilient Property Income Fund entered into a JV agreement with Shoprite and Standard Bank to develop quality shopping malls in metropolitan areas throughout Nigeria. Speaking at the company’s recent annual results presentation, the company’s MD, Des de […]

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Shoprite Reports a Positive African Performance Despite Challenges

Shoprite Holdings reported that sales increased by 15.2% and by 23.5% in constant currencies within the 14 countries outside South Africa they operate in. This positive performance comes in the midst of rising costs put together with the currency and import related challenges commodity reliant economies including Nigeria, Angola and Zambia have been facing. For their non South […]

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Grosvenor Group Invests in RMB Westport Fund

The Grosvenor Group, a privately owned property group known for developing prime London addresses including Mayfair and Belgravia, has made its first investment commitment to sub-Saharan Africa. The flagship investment in RMB Westport’s Real Estate Development Fund II, was made by the Group’s Indirect Investment team, who are seeking investment opportunities with third-party managers. RMB Westport, a real […]

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Development: Two Rivers, Nairobi – Kenya

Name: Two Rivers Development; Location: Nairobi, Kenya; Site Area: 100 Acres; Built-up Area: 850,000m²; Uses: Retail (62,000m²/220 stores), Office (21,000m²), Hotel (370 Keys), Residential (100 luxury apartments); Developer & Project Manager: Athena Properties Limited; Architects: Boogertman & Partners; Contractors: AVIC, Howard Humphreys Limited, BDSP Partners, KOLMAN, YMR; Consultants: Knight Frank, Broll, Fernridge, ITEC; Parking: Parking […]

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