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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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A new Hilton just opened in N’djamena, Chad

Hilton Worldwide recently announced the opening of a 194-room hotel – its first in Chad.  The Hilton N’djamena is located along the Chari River, in the upmarket Sabangali district of the capital city.  The Hilton N’djamena brings Hilton’s count of hotels on the continent to 37.  The hotel features 11 hotel suites, five bar and dining options, meeting […]

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Retail & Logistics: Primary City Saturation? Secondary Cities Viable?

Since the development of The Palms in Lagos, Nigeria’s first modern mall in 2005, the retail segment of Nigeria’s real estate growth story has seen continued interest from multiple investors. Over the years, additional retail centers have emerged in established cities like Lagos and Abuja. In these locations, developers aim to provide residents with better […]

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ei Real Estate Maps

ei is pleased to introduce the new Real Estate Maps tool. Data from our office and retail development pipeline posts have been collated to create an interactive map that displays ongoing and completed real estate projects in Nigeria. The image below shows an example of how the new tool works. It can be accessed here. For desktop users, the […]

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Nigeria’s Ikeja City Mall Sold to Hyprop and Attacq

Investors in Ikeja City Mall, Actis, RMB Westport and Paragon Holdings announced the sale of their 22,000m² retail asset to South African Real Estate Investment Trust (REIT), Hyprop and Attacq, a JSE-listed real estate capital growth fund. The sale follows Actis’ strategy, which is hinged on de-risking investments and delivering prime income producing Grade A property assets with bond like characteristics […]

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Lagos is an Emerging yet Lagging City in the New World of Cities

A recently published report produced by JLL on how traditional city hierarchies are being disrupted by globalisation and competition has classed Lagos as an Emerging World City. The report compares the performance of 660 cities worldwide, explaining that urban age is no longer about competitive hierarchy, command, or control; especially as data collated since the […]

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