Business News of Friday, 16 January 2015
When discussing investment opportunities for real estate, people normally think of cities such as London or New York. However, emerging cities across Africa are filled with opportunities for those looking to invest in property.
Global property portal, Lamudi, has compiled a list of emerging investment hotspots across the continent, based on market trends, infrastructure developments and attractive commercial, residential and industrial real estate opportunities.
Sekondi-Takoradi, Ghana The Western Regional capital, Sekondi-Takoradi was home to Ghana’s first electrification project and subsequently the nation’s first harbor. The city’s status has burgeoned in recent years with the discovery of oil in the Western Region. With foreign and local oil companies taking the opportunity to tap the newly discovered ‘black gold’, this has increased the demand for both commercial and residential properties. With an abundance in other resources such as gold, timber and cocoa, Sekondi-Takoradi stands in good stead to be one of the giants of Africa.
Abuja, Nigeria With its status as one of the worlds emerging cities, the Federal Capital Territory continues to attract real estate investors, interested in benefiting from its array of well-developed architecture and strong infrastructure. Abuja boasts good security and a favourable climate for business. The city’s Business Zone is home to an array of multinational companies expanding their offices into the emerging market. As Nigeria emerges as an attractive investment hotspot, the outskirts of Lagos are also increasing in popularity. Areas including Epe, Ota, Agbara, and Ajah have witnessed a growth in industrial parks, and boast affordable rates whilst in close proximity to the city of Lagos.
Naivasha, Kenya Located 90 kilometers northwest of Nairobi, Naivasha has attracted a number of developers into the region. Tourist attractions in and around Naivasha, such as the Lake Naivasha, Hell’s Gate, Aberdare Hills and Longonot National Park have led to the town’s development as a preferred getaway location, increasing demand for holiday homes in the area. With an environment conducive to both business and leisure, in addition to the availability of land, 2015 will see growth in residential, commercial and industrial real estate investment opportunities in Naivasha.
Casablanca, Morocco Morocco’s industrial and business center is home to numerous Moroccan and international companies, taking advantage of its close proximity to Europe and international trade routes. The dynamic city is increasingly attractive to Morocco’s young population, looking to settle down in a modern area with an abundance of employment opportunities. The city is seeing a number of commercial development projects taking place to improve the retail and entertainment facilities on offer.
Jardins de Carthage, Tunisia This recently established neighborhood, south of the historic site of Carthage, has become a hotspot for luxury real estate. With the popular tourist site in close proximity, Jardins de Carthage is an attractive option for luxury real estate developers, and house-hunters, looking to invest in upscale property. With Tunisia’s largest airport, Tunis-Carthage located nearby, this modern, residential neighborhood has all of the necessary structures to attract foreign investors.
Ndola, Zambia Ndola, situated approximately 320 kilometers north of Lusaka, has seen extensive development in recent years. The booming manufacturing sector presents an abundance of opportunities for industrial real estate, with no signs that the demand for local manufacturing will slow. The city is the industrial and commercial center of Zambia’s copper-mining region and with one of the country’s three international airports located here, its strong transportation connections facilitate industrial development.