News – Real Estate Market Data and Research for Nigeria and other African Countries | estate intel
February 22, 2017
Owerri Mall, Imo State. Image source:

Reuters: South Africa’s Shoprite to open less stores in Nigeria than planned

South Africa’s Shoprite will open two stores in Nigeria over the next 15 months, down from as many as 13, the retailer’s chief executive said, citing lack of retail space in the west African country. “Look, at Nigeria with the […]
February 20, 2017

Central Bank of Nigeria: New Policy Actions in the Foreign Exchange Market

In a press release published earlier today, the Central Bank of Nigeria (CBN) has stated that it will be providing direct additional funding to banks to meet the needs of Nigerians for Personal and Business Travel, Medical needs, and School fees, […]
February 20, 2017
The Assembly of Heads of State and Government of the West African Economic and Monetary Union (WAEMU) in June 2016, in Dakar, Senegal. Image Source:

IFC Invests $2m in West African Mortgage Refinancing Company

The IFC, a member of the World Bank Group, has announced a financing agreement with the West African Economic and Monetary Union’s Caisse Régionale de Refinancement Hypothécaire (CRRH-UEMOA), the regional mortgage refinancing company. The equity investment of 1.25 billion CFA franc […]
February 19, 2017
African Development Bank Approves $28.2m Funding for Shelter Afrique

African Development Bank Approves $28.2m Funding for Shelter Afrique

Through a mixture of equity and debt capital, the African Development Bank (AfDB) has approved a $28.2m injection into Shelter Afrique. An $8.2m equity injection that was announced last year, was finally disbursed at the beginning of the February 2017. The purpose of […]
February 19, 2017

Madhvani Group to close on $20 million acquisition of Rwandan hotel

Rwanda’s hotel and tourism sector continues to grow and attract investment interest.  The country hosted the three-day Africa Hotel Investment Forum (AHIF) last October in its capital city, Kigali.  Rwanda has been positioning itself as a top tourist destination in […]
February 17, 2017

Three more Accor Hotels for Addis Ababa

Paris-based AccorHotels just announced the signing of three hotels in Addis Ababa, Ethiopia.  Accor will manage and operate all three hotels for different investors under three of its brands – Mercure, ibis Styles and ibis. The ibis Styles is the first […]
February 17, 2017
Africa Construction Trends - Deloitte 2016

Africa Construction Trends – Deloitte 2016

The real estate sector accounted for 21.7% of total construction projects within West Africa, according to data compiled by Deloitte for its 2016 Africa Construction Trends Report. In this year’s edition, Deloitte tracked 286 construction projects across various sectors (transport, energy & power, real […]
February 17, 2017
Image Source: FlySAA. Opinion: International Sporting Events – Takeaways for Hotel Investors

Opinion: International Sporting Events – Takeaways for Hotel Investors

There is no doubt hosting a major sporting event boosts the profile of the country and city. Who does not want to visit Rio after the recent FIFA World Cup and Olympics? However, these events are only for a few […]
February 16, 2017

Africa featured at the Gulf & Indian Ocean Investors’ Summit

The Gulf & Indian Ocean Investors’ Summit is a hotel investment event designed for investors by investors.  The event was recently held in Abu Dhabi on February 6th and 7th, and featured industry players – owners, developers, advisory firms, as well as […]
February 15, 2017

BON Hotels opens its latest hotel in Nigeria

Regional hotel operators, such as South African-based BON Hotels, are also doubling down on their expansion plans in Africa. The hospitality company owns and manages hotel properties across Africa, and recently opened its latest hotel in Abuja, Nigeria.  BON Hotels was started […]