Rapid urbanization and growing consumer wealth on the African continent is providing numerous opportunities for investors wanting to gain exposure to retail and office property developments north of South Africa.
Gary Garrett, the Head of Real Estate Finance at Standard Bank says some of the key African countries that are realizing opportunities for real estate investment include Nigeria, Ghana, Kenya, Angola, Mozambique, Zambia and Namibia.
Foreign investment in the natural resource sectors of these economies is acting as a catalyst for economic development, boosting demand for quality office, retail and residential property space.
While considerable opportunities exist in Africa, investors must remember that the continent is not a single, homogenous jurisdiction. Investors often make the mistake of thinking of Africa as a uniform landscape whereas it’s critical to identify the countries and sectors that offer the best opportunities and match them with their own expertise. In addition, investors also need to find the right local partners to help them navigate the risks and complexities of doing business on the continent. The demand for quality property assets on the continent is especially evident in countries where natural resource discoveries have recently been made. This increase in wealth coupled with foreign companies establishing operations is driving this…
Source – http://www.sacommercialpropnews.co.za