UAE investors have been urged to follow in the footsteps of the Majid Al Futtaim Group and the Landmark Group by pursuing property opportunities in East Africa.
Peter Welborn, Chairman of property consultancy Knight Frank’s African operations, insists that “there has never been a better time to invest” in the continent.
Speaking at a recent event held alongside Dubai Multi Commodities Centre (DMCC), Mr Welborn said the huge population growth underway in Sub-Saharan Africa will mean that by the end of the current century, the continent will contain 40 per cent of the world’s population.
GDP in Sub-Saharan Africa is likely to rise by more than 4 per cent in 2016, following a recent dip related to its oil-exporting countries. The IMF forecasts for 2017 to 2020 suggest a GDP growth in Sub-Saharan Africa of 5.3 per cent a year.