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STANLIB Fahari I-REIT appoints new Acting CEO

STANLIB Kenya Limited (STANLIB) has announced the appointment of Ms. Nozipho Makhoba as the Acting Chief Executive Officer of the STANLIB Fahari I-REIT (Fahari-I-REIT) effective 1st July 2018. Nozipho replaces Mr. Kenneth Masika whose contract came to an end on 30th June 2018. The STANLIB Fahari I-REIT was Kenya’s first REIT when it was launched it […]

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Actis concludes deal with industrial property investment company, Improvon

Unlisted logistics and warehousing property group Improvon has concluded a deal with emerging markets private equity group Actis to develop warehousing on the rest of the continent. Actis, which has had success in retail developments on the continent, wants to replicate this in the industrial sector. The deal will at the same time help Improvon […]

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Growthpoint and Investec Launch Operations in Pan-African Real Estate Business with over $212m Committed

Almost 3 years after the joint venture agreement was initially announced, Growthpoint Properties and Investec Asset Management, in partnership with the International Finance Corporation (IFC), have the commenced operations of Growthpoint Investec African Properties (GIAP). The pan-African real estate investment business, which will be managed by Growthpoint Investec African Property Management has already secured capital commitments in […]

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Vantage Capital provides $8m funding to neighbourhood mall in Nairobi

Vantage Capital, an African mezzanine fund manager, announced last week that it has provided $8 million of funding to Rosslyn Riviera Shopping Mall, a 10,777sqm convenient neighbourhood shopping mall in the upmarket suburb of Rosslyn/Runda in Nairobi that officially opened for trading in 2017.  It sits on a 4.5 acre site and offers visitors a […]

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European Investment Bank and African Development Bank back Development Bank of Nigeria

The European Investment Bank and the African Development Bank have agreed to support the creation of the new Development Bank of Nigeria (DBN) to strengthen lending for business and agriculture investment in the country. The African Development Bank on Thursday announced that the European Investment Bank finalized a $20 million equity stake in the new […]

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Grit Real Estate Income Group wants to list on the London Stock Exchange

Following an announcement made in late February 2018, the board of directors of Grit have resolved to submit an application to be listed on the Main Market of the London Stock Exchange. Grit is a listed real estate income group operating in carefully selected African countries. The firm’s stated objective is to optimise structural investments […]

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UAC of Nigeria plans to sell its investment in UPDC Hotels (UHL)

The board of UAC of Nigeria as at the end of Q4;2017 classified interest in its real estate subsidiary UPDC Hotels (UHL) as held for sale. Reuters reported the group’s CEO, Abdul Akhor Bello confirmed the sale of UHL last Thursday and the sale is expected to be completed within a year from the reporting […]

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GRIT Group Acquires Office Property in Accra, Ghana

GRIT Group recently signed a binding Heads of Agreement for the acquisition of a 5,070sqm office building named 5th Avenue Corporate Offices in the Cantonments region of Accra, Ghana. Grit will pay Greenline Development Limited, a Ghanaian property developer, $14.35m in cash and will also issue its shares for a total value of $6.15m to […]

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IFC mulls $2.75m loan to African Medical Technology Firm

The International Finance Corporation (IFC), a member of the World Bank Group, is considering a $2.75m investment in Trivitron Healthcare Africa B.V. (THA), a new medical technology company focused on the African continent. THA was launched earlier in the year by Trivitron Healthcare Private Limited, India’s leading medical technology company, together with the Investment Funds for […]

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Knight Frank Secures Management Contract for Actis Garden City Project in Nairobi

Knight Frank Kenya has been appointed as property manager for Actis’ Garden City Development in Nairobi following an agreement signed earlier this month. Garden City is Nairobi’s first fully-integrated mixed-use development encompassing retail, residential and office space, all planned on 47 acres of land on Thika Road. The development offers 34,839sqm (375,000 sq ft) of […]

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