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Real Estate Investment Vehicles Among New Industries Added to Pioneer List

The Federal Government has lifted the administrative suspension on processing Pioneer Status Incentives (PSI) applications and has announced the release of new guidelines for PSI applications as well as a revamped list of pioneer industries and products. Included in the new list are two key elements relevant to the property sector: Real Estate investment vehicles under […]

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Flagship Infrastructure Debt Fund Lists on FMDQ OTC Exchange

Subsequent to receiving required approvals from the Securities and Exchange Commission, Chapel Hill Denham Management has registered and established the Nigeria Infrastructure Debt Fund (NDIF) ₦200bn Issuance Programme. The first series under this issuance programme (Series I: 49,450,000 units of ₦101.20 each) worth over ₦5bn has been issued with 14 investors already making commitments. The […]

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Abraaj Zero in on African Retail Sector through Java House Acquisition

Global emerging market private equity investor, Abraaj Group, has set sights on the African consumer and her retail sector through its agreement to purchase 100% of African coffee chain Java House from Founder Kevin Ashley and Emerging Capital Partners (ECP) earlier this month. Earlier in the year it was reported that other private equity investors including […]

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This S&P 500 REIT Made $215m in Operating Revs from its Nigerian Assets in 2016

The American Tower Corporation (ATC), an independent owner, operator and developer of multi-tenant communications real estate (cell towers) generated over $215m in operating revenues during 2016 from its towers owned in Nigeria, according to their 2016 year-end financial statements. The corporation, which is a member of the S&P 500 index, is one of the largest […]

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Here are the Challenges facing Nigerian REITs and the actions Regulators will take

The Nigerian Stock Exchange’s held its Inaugural Real Estate Investment Trust (REIT) conference in late May and stakeholders across various sectors came together once more to discuss the ways each stakeholder, from regulator to investor, will play their part in setting the Nigerian REIT sector in motion. We have outlined 3 major areas of discussion based on the panel interviews and […]

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#EAPI2017: These are Rwanda and Kenya’s Plans to jumpstart East African REITs

Following our publication on the East African Listed property sector in the run up to the East African Property Investment Summit, we sat in on an engaging discussion with key stakeholders in the East African REIT sector. The panel was moderated by Anthony Lewis of JLL Capital Markets (South Africa) and the discussion included Edward […]

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Sanlam Africa Core Real Estate Investments reports FY Pre-tax Profit of $3.7m

For the year ended December 2016, Sanlam Africa Core Real Estate Investments Ltd (SACREIL) reported a profit before tax of $3.8m, a significant improvement from the loss of $2.2m reported in the previous reporting period. SACREIL is listed on the Stock Exchange of Mauritius Ltd, with core real estate assets including Accra Mall in Accra – Ghana, […]

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Mixta Real Estate PLC to List First Real Estate Bond on FMDQ OTC Exchange

Last month, the Board Listings, Markets and Technology Committee of FMDQ OTC Securities Exchange approved the listing of the Mixta Real Estate PLC ₦4.50bn Series One 5-Year 17.00% Fixed Rate Senior Guaranteed Bond (the Mixta Bond) under a ₦30.00bn Medium Term Note Programme. Mixta Real Estate PLC, a real estate developer, providing advisory services, and […]

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Proposed Changes to Nigerian REIT Trading Framework

The Nigerian Stock Exchange (NSE) has published proposed changes to the framework regarding the trading of Real Esta​te Investment Trusts (REITs); and Closed End Funds listed on The Exchange. While there are still many other issues that need to be resolved including liquidity, we await to see the impact these proposed changes will have to the […]

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Momentum Africa Real Estate Fund reaches final close at $170 million

The Momentum Africa Real Estate Fund “MAREF” held its final close at the end of February 2017, raising a total of $170m, up $20m from the $150m the fund had raised by August 2016. A total of eighteen investors committed to the MAREF including pension funds, institutions and family offices. It is seeking to achieve an 18% […]

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