Nigeria Property Market

Africa — A challenging environment for Real Estate Investment

Property Investors are still concerned that a lack of strong legal structures and reliable rules are making the decision to invest in other African countries difficult as opposed to investing in Europe — SA Commercial Prop News has learned. ... Full story

Lagos vs. Johannesburg

While Johannesburg may be the richest city in Africa which is undergoing impressive development, Lagos with its young population and oil, — is the future hub for property investors, reports Ortneil Kutama, Africa Property Media Director. ... Full story

Ikeja City Mall in Nigeria sold to Hyprop and Attacq

Hyprop and Attacq have purchased Ikeja City Mall in Lagos for an undisclosed amount, from the previous owners, Actis, RMB Westport and Paragon Holdings. ... Full story

Real estate in Africa continues to drive growth potential

A growing consumer middle-class, powered by rapid urbanisation and shifting demographic trends is driving both property demand and growth opportunities in the real estate industry across the African continent. ... Full story

Urbanisation drives hunger for property and development in Africa

Sub-Saharan Africa is a promising market for property as urbanisation, economic development and increased affluence among the rising middle class drive growth across the sector. ... Full story

Nigeria’s Eko Atlantic City takes shape

The new multi-billion dollar Eko Atlantic City with residential and commercial tower blocks off the coast of Lagos in Victoria Island, is taking shape as developers forge ahead with infrastructure development. ... Full story

Hospitality Sector on the rise despite cooling economy — PwC

Despite the cooling off in South Africa’s economy, the hospitality sector is poised for further growth in the next five years in the wake of a number of inbound travellers into the African continent, according to a report issued by PwC today. ... Full story

Sub-Saharan Africa tops global index in CRE transparency improvement

Where transparency broadens, real estate capital flows and market change follows. This trend has finally made its way to one of the “final frontiers” of commercial real estate: Sub-Saharan Africa (SSA), which has claimed five of the global top 10 spot for greatest improvements in real estate market transparency: Kenya, Ghana, Nigeria, Zambia and Mauritius. ... Full story

Doing business in Nigeria too challenging for Woolworths

South African retailer Woolworths Holdings Ltd. (WHL) has canned its three-store pilot project in Nigeria as high rental costs, duties and complex supply chain processes make trading in the West African country "highly challenging". ... Full story

RMB secures R1.8bn funding deal towards property development in Lagos

Rand Merchant Bank (RMB), together with another funder have commited R1.8 billion (approx. $182-million) loan facility to finance a commercial office development, the Wings Oando in Lagos, Nigeria. ... Full story

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