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Africa’s cities need to brace themselves for millions more people over the next few decades with the continent having one of the fastest urbanisation rates in the world.
International real estate advisor Savills has today (14 February 2017) announced that its existing associates in South Africa, Pam Golding Properties and 5th Avenue Africa, have joined forces to create a new venture.
Investment grade hotel assets on the continent are traditionally tightly held due to the dominance of owner operators, high net worth individuals and family offices.
Murray & Roberts and Southern Palace Group today announced the purchase of the Murray & Roberts Southern African Infrastructure & Building (“I&B”) businesses, by a consortium led by the Southern Palace Group of Companies (Proprietary) Limited (“Southern Palace”).
Speaking at the Africa Hotel Investment Forum in Kigali, Rwanda, Xander Nijnens, Senior Vice-President, Hotels and Hospitality Group, JLL Sub-Saharan Africa, said: “Our medium-term outlook for the hotel sector is positive and JLL forecasts demand growth of 3% to 5% per annum during the coming three years.
Standard Bank Group, Africa’s largest bank by assets has been voted the Best Overall Bank in Africa in the 2016 Euromoney Real Estate Survey Awards for the fourth consecutive year.
Spur Corporation’s results for the year to June suggest the pressures facing consumers are being felt most acutely in the lower end of the market.
Mara Delta, (formerly Delta Africa), the first multi-listed property fund to offer international property investors direct access to immediate high growth opportunities on the African continent outside of South Africa, today announced robust financial results for the year ended 30 June 2016.
Murray and Roberts will focus on three core sectors in future — underground mining, oil and gas, and power and water, says group.
Basil Read is on the lookout for prospects in the rest of the continent as the local construction sector remains subdued.