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Africa’s Real Estate Investment Trust (REIT) Industry – Nigeria in Focus

Interest in the Nigerian REIT sector has grown significantly in recent months, the infographic below is our take on the African REIT sector with a focus on Nigeria.

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Spotlight on Private Equity and Real Estate in Nigeria

Africa focused Private Equity (PE) has developed impressively over the last two decades, in terms of volume, quality of transactions, and performance. According to a joint research paper by the African Private Equity and Venture Capital Association and Ernst & Young, Africa’s PE strategic and operational improvement measures have returned 0.6x more than the MSCI Emerging Markets […]

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Shareholders of Ikeja Hotels Plc remove Chairman

In an extraordinary general meeting held on Tuesday, January 5th 2015, shareholders of Ikeja Hotels Plc (IKEJAHOT:NL) voted to remove the chairman, Goodie Ibru.  The listed company, which owns Sheraton Ikeja, is a core investor in Capital Hotel Plc (owners of the Sheraton Abuja), and is a major shareholder of Tourist Company of Nigeria (owners of […]

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2014 Performance of Construction/Real Estate Equities

In 2014, downward spiraling oil prices, volatile currency markets and insurgency overshadowed Nigeria being named Africa’s largest economy. As foreign investors exited and bears dominated the investment landscape, the performance of core asset classes was abysmal. Equity markets were initially on course to produce ±-20% at year end, however a slight rebound in the last weeks of December allowed […]

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Nigerian Real Estate Market: 2014 Overview and 2015 Outlook

A recently published report by Northcourt Real Estate outlines the performance of core asset classes in the Nigerian investment landscape, with a special focus on real estate. It was noted that despite the dismal performance of other asset classes in 2014, activity in the real estate sector remained robust. As Lagos is the commercial capital of the Nigeria, […]

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Research Note: Analysis of Nigeria’s Newest REIT

Here’s a short research note with a few thoughts on the new REIT, Haldane McCall Real Estate Investment Trust. Haldane McCall owns The Suru Group, a private limited company focused mainly on residential developments and the hospitality sector in Lagos. They have already commenced an initial public offering, which will be closing on the 14th of January next year. IPO Background & Strategy They are […]

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AXA Completes Acquisition of Mansard Insurance Majority Stake

AXA announced on the 8th of November that it had completed the acquisition of 100% of Assur Africa Holdings, which holds a 77% stake in the composite insurance company Mansard Insurance plc, for a total consideration of €198 million ($245m). Through the acquisition of a majority stake in Mansard Insurance plc, AXA would further strengthen […]

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High stakes for high reward? Real estate funds come to Africa

High stakes for high return, if you can stick it out for the long term – investors are buying into a boom in sub-Saharan African real estate. Forecasts for 20 percent net annual returns from investing in shopping malls, office blocks or industrial complexes in countries from Zambia to Kenya is drawing in new investors, […]

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Real Estate Amongst Best Sectors in Grim Q1 performance

Putting it lightly, the performance of the Nigerian Stock Market in the 1st quarter of 2014 was very grim. The numbers indicated that Nigeria was the 3rd worst in terms of returns globally, yet our African counterparts Kenya, Ghana, South Africa and even Egypt achieved positive Q1 returns of 5.6%, 11.2%, 3.3% and 15% respectively. We […]

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Nigerian HNWIs have 25% of their assets in real estate

A recent research report  has shown that real estate was the largest asset class for Nigerian High Net Worth Individuals (HNWIs). The report which evaluated asset allocation trends of Nigerian HNWIs  explained that a total of 25% of their assets were held in real estate in 2013. However this was down 2.3% from 27.3% in […]

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