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West Hills Mall in Greater Accra, Ghana. Image Source: ARC Architects

West Africa’s largest mall might be under pressure

Since it was completed in 2014, West Hills Mall has been the largest modern shopping centre in West Africa. At 27,700m², it trumps the 24,000m² Ado Bayero Mall in Kano, Nigeria (also completed in 2014) and is larger than the 25,000m² Jabi Lake Mall in Abuja, Nigeria, which opened in late 2015. Though the centre…

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UPDC REIT Factbox

Earnings Report Overview – UPDC REIT FY:2018

Earlier this month, UPDC REIT released its full-year audited financial statements for the year ended 31 December, 2018. It reported a Profit After Tax of ₦2.64 Billion, which is a 19.76% increase from the previous year. The improved performance is a result of the…

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Comparison of Achimota and Accra Mall

Achimota Mall and Circle Mall – which do you think will fare better in the long run?

Even though institutional investment in modern shopping centres within West Africa is a concept a few years older than a decade, the market has been through some rough cycles. Large pan African funds, indigenous investors and others with capital, are currently grappling with the realities of volatile African markets, which have changed and are still…

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How do Africans pay rent?

How do Africans pay rent?

A good number of us have had to pay residential rents at a point in our lives. Two key things we have come across are the frequency at which rent is paid and how much is required as an upfront payment. Speaking to our contacts in a couple of African cities, we were able to…

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Nigerian Banking M&A Since 2014

Mergers & Acquisitions in the Banking Sector and Opportunities for Real Estate Service Providers

As the Central Bank of Nigeria announces new recapitalisation plans for the banking sector, we look at the past 5 years where over $2.6b of capital has been expended by investors looking to secure ownership stakes in Nigerian banks. For real estate service providers, this is an opportunity to support the important post-transaction real estate…

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Infographic from Fund factsheet on Sanlam Africa Core Real Estate Investments Limited

ei Fund Factsheet on Sanlam Africa Core Real Estate Investments Limited

Read our brief fund factsheet on the Sanlam Africa Core Real Estate Investments Limited Fund and get an understanding of all the fund's activities in Africa. Login to the ei Web App and search for "ei Fund Factsheet on Sanlam." Follow this link to create a free account if you don't have one. Read more…

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African PropTech Series: Nigeria

Typically slow in adopting technology, the real estate sector is gradually learning to meet demands of market participants through Property Technology AKA ‘PropTech’. The term refers to businesses or platforms that use technology to address the needs of the property industry by offering innovative products. Technology is leaving a significant impact on our everyday life…

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ei Fund Factsheet on Novare Africa Real Estate Fund I & II

ei Fund Factsheet on Novare Africa Real Estate Fund I & II

Novare Africa Property Fund I and II are Mauritius domiciled Private Equity funds with a focus on high ticket real estate transactions in Sub-Saharan Africa. Novare’s strategy is to provide viable shopping destinations for the growing affluent customers in Sub-Saharan Africa as well as excellent office spaces to meet the growth in commercial activity. Log…

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What's your greatest pain point?

What’s your greatest pain point?

Earlier in the year, we conducted private research on the Facility Management Industry with a focus on the Lagos Office Market. A key finding on customer pain points was the increased demand for improved Reporting and Documentation and Faster Response Times. Though Cost Management is typically regarded as the greatest pain point, the problems landlords…

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Head to Head: UPDC REIT vs Stanlib Fahari I-REIT

Head to Head: UPDC REIT vs Stanlib Fahari I-REIT

Research from Ernst & Young in 2017 put the global REIT market cap at approximately US$1.7tr. This sparked our interest last week and we decided to take a look at East and West Africa’s largest REITs. In our brief 3 page factsheet, we compare assets, sector diversification and other key stats. Quick fact: These 2…

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