Real Estate News

AccorHotels headquarters in Issy-les-Moulineaux near Paris, France

AccorHotels signs deals to open three hotels in Ethiopia

Europe’s largest hotel group AccorHotels, will open three hotels in Ethiopia by 2021, becoming the latest international chain to tap into the growing business and tourism sectors in the country.

Eko Atlantic City, Lagos, Nigeria (Illustration)

Lagos living: Solving Nigeria's megacity housing crisis

Affordable housing is a considerable challenge for urban areas with large populations, and this is particularly prevalent in Nigeria’s city of Lagos.

A Protea Hotels location now owned by Marriott International

Why Marriott's Expansion in Africa Could Mean Long-Term Gains

Marriott opened its first property in sub-Saharan Africa, the 254-room Kigali Marriott in Rwanda, in early October.

SafariCity, Arusha, Tanzania

Check out 5 futuristic African cities that will take the tourism industry by storm (Photos)

Africa is seen to take up the tech challenge by investing billions of dollars in the development of tech futuristic cities.

Sandton City, Johannesburg, South Africa

Sandton: Africa's richest square mile?

Sandton Central, without doubt, has become the most important business and financial node in South Africa, and plausibly sub-Saharan Africa.

Jeff Schlapinski, Director of Research, EMPEA

Private equity investment in Africa heats up as pension funds stay local

African private equity is having its moment in the sun, with pension funds on the continent ready to invest in their own backyard as investment banks continue to retreat from lending and domestic strategies mature.

Will he cash in on Africa's real estate boom?

Will he cash in on Africa's real estate boom?

You’ve heard it before: Africa, the new investment frontier! Risky, but high reward potential, the mantra goes of emerging markets — particularly in Africa, home to 13 of the 20 fastest-growing economies in the world.

Hilton Nairobi Upper Hill, Nairobi, Kenya (Illustration). Credit: hiltonworldwide.com

Hilton to open hotel in Africa's tallest development (Photos)

Iconic $110 million Hilton Nairobi Upper Hill marks Hilton Hotels & Resorts’ 50th property in Africa.

A visitor takes photographs from the Ou Kaapse Weg as seasonal fog covers the city of Cape Town. Almost 7,000 visas were issued by the South African embassy in the UAE for the first seven months of this year. Credit: thenational.ae/Mike Hutchings/Reuters

Hotel developers will invest billions of dollars in African projects over the next few years

Hotel developers will invest billions of dollars in African projects over the next few years as they seek to take advantage of a fast-expanding middle class and growing business travel.

Kigali Heights, Kigali, Rwanda (Illustration)

Magnificent Kigali Heights to open in November

Kigali Heights, a new mega-commercial complex in Rwanda’s capital Kigali, has set November as the opening month for the $36 million property.

Menlyn Park Shopping Centre, Pretoria, South Africa (Illustration)

Menlyn Park Shopping Centre to cement its place as Africa’s largest mall

Despite a slowdown in consumer spending across South Africa, Pretoria’s Menlyn Park Shopping Centre is undergoing a R2.5 billion revamp that will make it the largest mall in Africa, unseating Durban’s Gateway Theatre of Shopping.

Novare Lekki Mall (Illustration)

Nigerian property crash attracts brave investors betting for the long-term

A property market crash in Nigeria offers opportunities for brave investors betting that Africa’s most populous nation will deliver high returns when it climbs out of recession.

Tamassa Resort in Mauritius

Property fund Mara Delta agrees to buy Tamassa Resort in Mauritius

LUX* Resorts and Hotels sells Tamassa Resort for US$40 million in sale-and-leaseback deal.

BW Premier Collection, The Alba, Nairobi, Kenya (Illustration)

Best Western continues Africa expansion with launch of first BW Premier Collection hotel on the continent

Best Western Hotels & Resorts adds another hotel to its East African portfolio. The newest addition is BW Premier Collection, The Alba, located in Nairobi, Kenya.

The Legend Hotel (Illustration); which will be located within the Murtala Muhammed International Airport boundaries in Lagos, Nigeria; will feature 54 guest rooms, including eight suites. Credit: Curio - A Collection by Hilton/estateintel.com

Hilton Expands Presence in Nigeria with Signing of Hilton Lagos Airport

Hilton has announced the signing of a management agreement with Quality Inspection & Testing Services Limited to open a 350 guest-room and suite hotel at Lagos’ Murtala Muhammed International Airport, Nigeria.

ToLet.com Co-Founders (L-R): Sulaiman Balogun, Fikayo Ogundipe, Dapo Eludire and Seyi Ayeni

Nigeria's ToLet.com.ng raises $1.2M from Frontier Digital Ventures

Lagos-based real estate classifieds startup ToLet.com.ng announced on Tuesday that it has closed a $1.2 million series A funding round from Frontier Digital Ventures.

Lake Heights Hotel, Entebbe, Uganda

BON Hotels takes on second property in East Africa: Lake Heights Entebbe

With the ink just dry on the BON Hotel Addis Ababa contract, BON Hotels, a hospitality company that owns, manages and markets hotels throughout South Africa and the rest of the continent, has taken on a second property in East Africa.

Buffalo Mall, Naivasha, Kenya

East Africa's second-tier cities hold untapped potential

Retail in Kenya is dominated by informal sellers, but recent years have seen a boom in modern trade, with home-grown supermarket chains expanding their footprint and international brands (such as Carrefour and Massmart’s Game banner) entering the market.

Four Points by Sheraton Lagos Nigeria

Starwood Hotels ramps up Nigeria portfolio with new Four Points in Benin City

Accelerating growth in emerging markets across the globe, Starwood Hotels & Resorts Worldwide, Inc. recently announced the signing of Four Points Benin City, Nigeria.

Konza Tech City

Kenya's $50 billion megaprojects (Photos)

Konza Tech City – The much-hyped Konza Tech City – or “Silicon Savannah” – is hoped to be a world-class hub of entrepreneurship. The $15 billion site, set in 5,000 acres to the south of Nairobi, will accommodate almost 200,000 people, complete with universities, research facilities, and IT centers.

Diane Radley, Old Mutual Investment Group

Why Old Mutual is investing millions in Nigeria's property and agriculture markets

This month, South African financial services firm Old Mutual Investment Group announced a partnership with Nigeria’s sovereign wealth fund for the investment of US$700m in real estate and agriculture.

BON Hotel Addis Ababa

BON Hotels extends its footprint into Ethiopia

BON Hotels, a hospitality company that owns, manages and markets hotels throughout Africa, has added yet another property to its ever-growing stable.

Novare Matola (Illustration), Maputo, Mozambique

Novare Africa Property Fund II closes with $350 million for investment

Novare Africa Property Fund II, the fund with a mandate to invest in retail and commercial real estate in sub-Saharan Africa outside of South Africa, has announced its final close at the end of June 2016.

Saxon Hotel, Villas and Spa, Sandhurst, Johannesburg, South Africa

10 Myths of Hospitality Development in Africa (Report): Hotel Partners Africa (HPA)

There’s a lot happening in Africa! In 2015, a survey by W Hospitality Group counted 215 hotels in the chains’ development pipelines, with almost 40,000 rooms.

Mark Okoye, Executive Director & Secretary, Anambra State Investment Promotion and Protection Agency (ANSIPPA)

Invest Nigeria - Think Anambra (Presentation): Anambra State Investment Promotion and Protection Agency (ANSIPPA)

In March 2015, Anambra was ranked the most transparent and accountable state in Nigeria, complying with all the set standards in public sector accounting, according to the International Public Sector Accounting Standards (IPSAS).

David Morley, Partner & Head of Real Estate, Actis

Actis raises $500M for largest ever real estate private equity fund targeting sub-Saharan Africa

Actis, a leading growth markets investor, recently announced that it has reached final closing on its third opportunistic private real estate fund, Actis Africa Real Estate Fund 3 (“ARE3”) with commitments totaling more than $500m, comfortably exceeding its original $400m target.

John Tanui, Konza Technopolis Development Authority (KOTDA)

First phase of Kenya's smart city Konza is ready for development, says Konza Development CEO John Tanui

The first country in the region to set up a smart city, Konza Techno City, Kenya is way ahead in East Africa’s ICT development race.

Eko Atlantic City, Lagos, Nigeria (Illustration)

Africa's planned cities and the future

One of the objectives of Sustainable Development Goals is to have sustainable cities that provide opportunities for all, including access to basic services, energy, housing and transport. Some African cities like Lagos and Kigali are on the move.

The Landmark Centre, Lagos, Nigeria

Vantage Capital commits $20 million to leading Nigerian property development company Landmark Africa

Vantage Capital, Africa’s largest mezzanine fund manager, announced on Wednesday that it has committed $20 million to Landmark Africa, one of Nigeria’s leading property developers.

South Africa's $340 million Mall of Africa set to open this month

The largest mall in Africa: South Africa's $340 million Mall of Africa set to open this month

South Africa’s largest shopping center development to date, the $340 million Mall of Africa, will be fully operational in 17 days — on 28 April 2016.

Hotel Novotel Dakar, Senegal. An AccorHotels property

Hotel development in Africa jumps 30% to 64,000 rooms for 2016

The number of planned hotel rooms for 2016 in Africa has soared to 64,000 in 365 hotels, up almost 30% on the previous year, according to new figures from the annual W Hospitality Group Hotel Chain Development Pipeline Survey.

Africa’s richest man, Aliko Dangote (Left), has a net worth of about US$18 billion, according to Forbes. Tom Saater/Bloomberg

Ranks of African millionaires swell

The sinking tide of commodity prices has lowered incomes for the rich and poor, but for a growing class of African millionaires, the effect may be less painful than for others.

Two Rivers, Nairobi, Kenya (Illustration)

Africa: A land of opportunity for property investors

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.

Maitama Mixed Use Development, Abuja, Nigeria (Illustration). Credit: Eris/estateintel.com

Eris and Momentum to invest over $308M in West African real estate

Momentum Global Investment Management (MGIM) and the Eris Property Group have allocated over $308 million for real estate investments in West Africa in the 1st Quarter of 2016.

Shop Africa 2016: Knight Frank

Shop Africa 2016 (Report & Infographics): Knight Frank

Sub-Saharan Africa is experiencing a wave of modern shopping mall development. The retail sector has become a major focus for development activity in recent years, as investors have been attracted by the growth potential of African consumer markets.

Hospitality Market Snapshot 2015 - Oil Economies - Accra, Lagos and Luanda (Report): HTI Consulting

Hospitality Market Snapshot 2015 - Oil Economies - Accra, Lagos and Luanda: HTI Consulting (Report)

Between 2011 and 2012, the price of oil was at its highest levels in recent times, at close to $110 per barrel. By the end of 2014, an oversupply of oil saw the price of oil drop to below $100 per barrel. In 2015, prices dropped as low as $49. In 2016, prices have dipped as low as $30 and currently stand at about $40 per barrel.

The Legend Hotel (Illustration); which will be located within the Murtala Muhammed International Airport boundaries in Lagos, Nigeria; will feature 54 guest rooms, including eight suites. Credit: Curio - A Collection by Hilton/estateintel.com

Curio - A Collection by Hilton makes its Africa debut at Nigeria's Murtala Muhammed International Airport

Hilton Worldwide has reached an agreement with Quits Hospitality Ltd to open the first property under the Curio – A Collection by Hilton brand in Africa.

An Overview of the Hotel Real Estate Sector in Africa: JLL

An Overview of the Hotel Real Estate Sector in Africa (Report): Jones Lang LaSalle (JLL)

The narrative on the investment potential in Africa has improved significantly over the past decade and many sectors in the African economy are seeing high growth in investment from global corporates, institutional investors and private equity.

Protea Hotel Abuja

BON Hotels takes over management of four Protea Hotels locations in Nigeria

Cape Town-based hospitality company BON Hotels has taken over the management, sales and marketing of four Protea Hotels locations in Nigeria.

African IPOs Set to Double Capital Raised in 2016 - Baker & McKenzie

African IPOs Set to Double Capital Raised in 2016: Baker & McKenzie (Infographics)

Africa’s equity capital markets are set for a strong 2016 following a reasonable 2015 despite commodity price falls and capital flight from emerging markets hitting the continent’s major economies.

Grosvenor Group makes commitment to invest in sub-Saharan Africa real estate.

Grosvenor Group partners with RMB Westport to make first investment in Sub-Saharan Africa

Grosvenor Group, the privately owned international property group, has made its first investment commitment to sub-Saharan Africa.

Victoria Island, Lagos, Nigeria

Africa: Firmly on the map

A number of new real estate fund platforms focused on Sub-Saharan Africa (SSA) have emerged in recent years, giving credence to the continent’s ability to attract larger capital commitments from global investors.