News – Real Estate Market Data and Research for Nigeria and other African Countries | estate intel
March 24, 2017
Great North Mall, Lusaka - Zambia. Novare

IFC Mulls Financing Package for Novare’s First Zambian Retail Project

The IFC is currently mulling a financing package to Woodside Mall Zambia Limited, the Zambian Project SPV that has been registered by the Novare African Property Fund II to develop the Great North Mall. The funding package includes a US$4.5 million loan […]
March 24, 2017

CEO panel at Berlin Hotel Conference discuss hotel trends

At the recently concluded International Hotel Investment Forum (IHIF) held in Berlin, the “CEO Debate” panel underscored the need for hoteliers to remain agile, flexible and responsive to changing guest needs.  The CEO panel included Puneet Chhatwal of Deutsche Hospitality; […]
March 21, 2017

Mövenpick signs a deal in Addis Ababa

Mövenpick, the Swiss hospitality group, announced that it has signed a 20-year management agreement for a new hotel with Yobek Electrical Enterprise in Addis Ababa, Ethiopia.  The negotiation for the hotel deal took over two years and was negotiated by […]
March 16, 2017

Africa Hotel Investment Forum to return to Kigali

Bench Events, the organizers of the annual Africa Hotel Investment Forum (AHIF), have announced that this year’s conference will return to the Radisson Blu Kigali Convention Center, hosted by the Rwanda Development Board.   It will be held October 11 – 12, […]
March 14, 2017
IFC Mulls Investment in Nigerian Hospital Project Sponsored by AXA Mansard

IFC Mulls $8.2m Investment in Nigerian Hospital Project Sponsored by AXA Mansard

The IFC, a member of the World Bank Group, is considering a USD $8.2m equity investment for a 20% equity stake in a hospital project in Lagos, Nigeria sponsored by AXA Mansard Insurance. The hospital will be built on a 20,000m2 land purchased […]
March 14, 2017
African Logistics Properties Acquires Second Site for Development

African Logistics Properties to receive $35m boost from CDC and IFC

African Logistics Properties (ALP), a specialist investment manager in the African logistics and industrial warehouse sector, will be getting an investment of $35m from IFC, a member of the World Bank Group, and CDC Group, the UK’s development finance institution. The IFC […]
March 13, 2017
Strategy for Construction and Real Estate in Nigeria's Economic Recovery & Growth Plan

Strategy for Construction and Real Estate in Nigeria’s Economic Recovery & Growth Plan

In the recently published Economic Recovery and Growth Plan for Nigeria (2017 – 2020), the Ministry of Budget and Planning explained that the construction and real estate sectors are constrained by the high costs associated with house building, land acquisition and borrowing. […]
March 13, 2017
City Lodge Hotel Sandton Morning Side. Image Source: Galahotels

City Lodge Hotels Group Expands in Africa but Avoids Nigeria

City Lodge Hotels Group, a Southern African hotel company, intends on spending 1 billion rand ($77 million) on further expansion as it seeks to cater for both the business and tourist markets across the African continent. The group is targeting capitals within […]
March 10, 2017

Rotana opens its first Sub Saharan African hotel in Kinshasa, DRC

In February 2017, Rotana, a UAE-based hotel company, finally made its debut in Sub Saharan Africa.  The Kin Plaza Arjaan by Rotana is located in Gombe, an upscale business and residential district of Kinshasa – where most of the city’s […]
March 7, 2017
World Bank Approves $130m additional financing for Tanzania Strategic Cities Project. Image Source:

World Bank Approves $130m additional financing for Tanzania Strategic Cities Project

The World Bank has approved up to $130 million in additional financing for the Tanzania Strategic Cities Project (TSCP) covering the eight strategically important cities of Tanga, Arusha, Mwanza, Kigoma, Dodoma, Illemela, Mbeya and Mtwara, to enable them keep up […]