Recently, Fourways Mall in Johannesburg North launched a new wing – making it one of the largest malls in Africa. After five years of construction, Fourways Mall finally reopened to shoppers late last month. More than 100 000 square metres of space across has been added to the centre, increasing its retail space to 178 000 square metres but many more new malls are being built.
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In an unprecedented conferment of merit awards by the Nigeria Institute of Architects (NIA), the Managing Director of Cosgrove Investment Limited, Mr Umar Abdullahi was honoured in his individual capacity for the rare genius, penchant for standards and leadership acumen that characterized his uncommonly eventful decade-long real estate development career that earned him NIA’s “Real Estate Developer of the Year,” while his organization – Cosgrove was honoured in its corporate capacity for “excellence in smart cities development in the country.”
Lagos state Government (LASG) has expressed its readiness to partner with interested and capable investors in its determined efforts to continuously reduce housing deficit in the state. The Commissioner for Housing, Mr Moruf Akinderu-Fatai, said this while reviewing the activities of the ministry on Monday in Alausa, Ikeja.
The Nairobi County government is losing Sh91 million monthly revenue due to inefficiencies in its system for buildings approvals, property experts have said. The Architectural Association of Kenya (AAK) and Kenya Property Developers Association (KPDA) singled out Nairobi as one of the most notorious counties in delaying construction permits warning that it was hurting both the county’s and the national economy.
The Nigerian real estate industry is about to experience massive investments from the overseas, as foreign investors have expressed their interest to pump money into the rapidly growing sector. Some foreign investors, who are seeking new opportunities in Nigeria, said that their interests in the country’s real estate sector were reignited by the growth of the industry. They made this known at a recently-concluded construction exhibition in Lagos.
A new report from JLL (www.JLL.com), the world’s largest professional services firm specialising in real estate, has revealed that people seeking to finance a new hotel project in Africa will be much more successful if their hotel is part of a mixed-use development.
JLL’s research into global property transactions reveals that in the first half of 2019, there was a 42% increase in the value of mixed-use property transactions, whereas there was a decline in other sectors, with Office down 4%, Industrial down 6%, Retail down 20%, Hotel down 18% and alternatives down 40%.
In Kenya, the real estate industry is a free market in that the price of housing is driven by supply and demand. The higher the demand, the higher the prices with the inverse also applying.
Over the last couple of years, the Kenyan economy has witnessed exponential growth of the middle-class. What this means is that as the disposable incomes of more Kenyans increase, many people are able to construct their own homes and are also able to get mortgages to buy houses. This, in turn, fuels the real estate sector.
-The two nations are engaged in a heated maritime territorial battle over oil and gas exploration blocks that have reportedly been put up for auction.
-Diplomatic tension between Nairobi and Mogadishu has heightened this year following the dispute, often playing out in the open.
A mortgage economy where the financial system is stable needs the role of an active insurance industry to grow and thrive. This is because insurance and mortgage complement each other.
Located in up-market neighborhood of Hurlingham, Sun Africa Luxury Apartments comprises 20 apartments both studios and one bedrooms. The hotel chain dates back to 1927, one of the first establishments in Africa offering bush and safari holidays.