Africa Property
Kenyan hotelier TPS's profit jumps 23 pct in 2011
Kenyan hotelier TPS Eastern Africa (TPSE.NR: Quote, Profile, Research) posted a 23 percent jump in 2011 pretax profit to 853 million shillings ($10.4 million), even though security alerts hurt business in the fourth quarter. ... Full story
Travel groups pour into open-for-business Africa
The world's big hotel chains and airlines are rushing to serve new corporate customers in Africa, as Chinese and Middle East investment boosts business interest in the resource-rich region.
Libyan govt reclaims Gaddafi mansion in London
The Libyan government reclaimed possession from Saadi Gaddafi of a London mansion worth 10 million pounds after a British court ruled on Friday it had been bought using stolen Libyan state funds.
Construction at The Gateway Malawi’s biggest retail centre on track
Development of Malawi’s new 17 500m² retail shopping centre, The Gateway, is on track, scheduled to open in March 2013
Mozambique to spend $500m on airports
Mozambique's airport company will spend $500m over three years to modernise its key facilities to encourage more foreign carriers to open routes to the country, its CEO said on Wednesday.
Pinnacle Point Lagos Keys project folds
Pinnacle Point Group cannot raise funds to develop its Lagos Keys project in Nigeria, whose value is estimated to be R398 million.
City Lodge ushers in African expansion
Sales improve 9% in the six months to December 31 compared to the year before, plans now in the pipeline to invest R1,5bn in hotels across Africa.
International brands push demand for retail space in West Africa
There is a strong demand for retail space in both Nigeria and Ghana, driven largely by a growing middle-class and interest from international brands to enter the West African market.
Lonrho clinches hotel deal in Kinshasa
Lonrho Hotels, a division of London-listed property group Lonrho Plc, has entered into a 10-year management agreement for the 450-room Grand Hotel in Kinshasa, the capital of the Democratic Republic of the Congo (DRC).
Southern Sun eyeing new markets in Africa for its hotels
Southern Sun, the hotel unit of listed casino and hotel group Tsogo Sun, is eyeing opportunities to expand its Garden Court and StayEasy brands into African countries beyond SA’s borders over the next five years.
Nigeria conflict highlights Africa investment risks
Nigeria's recent explosion of violent political unrest is damaging the economy and forcing investors to reassess their optimism over the short-term returns available there and elsewhere in Africa.
PPC targets growth to rest of Africa
Cement producer PPC will increase its exposure to the rest of Africa so that by 2016 revenue from this area will comprise between 40% and 50% of its income.
Pick n Pay ups stake in Zimbabwe's TM Supermarkets
Zimbabwe's competition regulator approved Pick n Pay's plans to raise its stake in that country's biggest grocery merchant, a $13-million deal that forms part of the South African food retailer's expansion plans across the continent.
Liberty Properties learns lessons in Lusaka
Liberty Properties’ first foray into Africa, through its role as the development manager of the Levy shopping centre in Lusaka, Zambia, has many lessons for other South African property players looking to operate outside SA.
US$200m Zambia’s largest mixed-use development opens
LUSAKA – The 30 000m² Levy Shopping Centre opened its doors in the Zambian capital, Lusaka, on Thursday morning with thousands of people streaming through the doors within the first few hours
