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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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Average Hotel Room Rates in Lagos Remain Among Highest Globally

A recently published Hotel Survey by HRG demonstrated that 2014 Average Room Rates (ARR) in Lagos were the 4th highest globally at £203.58, after Paris, New York and Moscow. This reflected single position increase from the previous year where ARRs in Lagos were 5th highest. Though there was some foreign currency volatility, Lagos’ Average Room Rates grew 3.39% in local currency from […]

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Stanlib Kenya in $120m Real Estate Investment Trust IPO

Stanlib Kenya Ltd. intends on raising up to $120m (12.5 billion Shillings) before November for the initial public offering (IPO) of what will be Kenya’s flagship Real Estate Investment Trust (REIT). Fahari I-REIT will be listed on the Nairobi Stock Exchange and SBG Securities, owned by the Standard Bank Group Ltd. will be the bookrunner for the IPO. […]

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Jabi Lake Mall, Abuja – Construction Progress Video Update

Using drones, UAS Innovations & Solutions Ltd have provided video updates of the construction progress for Jabi Lake Mall. It is a 25,000sqm retail development by Actis, in the Jabi/Utako region of Abuja. Construction began in 2014 and completion has been slated for year end 2015. This double level mall will feature contemporary architecture, waterfront restaurants, cafes and fast food outlets […]

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Nigeria falls to 4th Position in African Retail Index

A.T. Kearney’s 2015 African Retail Development Index (ARDI) placed Nigeria in 4th position, two places lower than its ranking in 2014 as a result of comparatively low true spending and difficult business environment. The Index covers the top 15 retail markets in Sub-Saharan Africa (SSA), ranking each on a 0 to 100 point scale, where a higher ranking means […]

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Lagos Ranked Among Least Liveable Cities Globally

New analysis from the Economist Intelligence Unit (EIU) has shown that Lagos maintained its position at #137 in a survey examining liveability conditions in 140 cities across the world. Similar to 2014, Lagos ranked with the likes of Damascus in Syria, Dhaka in Bangladesh and other cities in Zimbabwe and Libya. The liveability score is reached through analysis of five category weights, […]

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Introducing the ei African Real Estate Fund Universe

estate intel is pleased to introduce the ei African Real Estate Fund Universe, a tool that provides access to a growing list of international and domestic property funds seeking to invest in African real estate. The total value of funds shown on the Fund Universe is currently up to $2b. Fund closure date, investments made and more […]

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Resilient Africa is Investing $271m in 2nd Tier City Shopping Malls

Updated: 3rd August 2015 By year-end 2016, Resilient Africa is set to have invested $271m developing shopping malls in 2nd tier cities across Nigeria. The company, which was created through a joint venture with Resilient Properties – a leading South African REIT, Shoprite and Standard Bank, is attempting to establish a strong foothold in cities where little or no […]

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South African Investor Acquires 37.1% in The Wings Office Towers

Earlier this month, a South African property investment and development company named Pivotal entered into an MOU to acquire a 37.1% shareholding in the $104 Wings Towers office development in Victoria Island, Lagos. Pivotal will join Oando and RMB Westport as a new joint venture partner for this development, which intends to bring in 27,000 sq. […]

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