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Africa Property News

PIC seeks SA retailers partnership for Africa growth

The Public Investment Corporation (PIC) said yesterday it was exploring investment partnerships with South African retailers looking at broadening their footprint in Africa, a sign that it was serious about delivering on its mandate to invest close to R5bn on the continent. ... Full story

The Potential for Property Values in Africa‎

So you thought Europe or the Americas were the continents' best place to invest in property? Think again. ... Full story

Botswana's new landmark set to boost job market

The newly built Airport Junction Mall will create 600 permanent jobs once fully operational, says the Assistant Minister of Finance and Development Planning, Dr Gloria Somolekae. ... Full story

Airport Junction mall opens in Gaborone

In November 2010 construction commenced on the 50 000 m² regional shopping centre, Airport Junction, northern Gaborone as a joint venture between Eris Property Group and local partner Bifm at an estimated cost of R 428 million. ... 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. ... Full story

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. ... Full story

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. ... Full story

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. ... Full story

China rail company inks $1.4 billion contracts in Africa

A subsidiary of China Railway Construction Corp Ltd has signed two projects in Africa with a total contract value of 9.1 billion yuan ($1.4 billion), the company said in a statement to the Shanghai Stock Exchange. ... Full story

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. ... Full story

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). ... Full story

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. ... Full story

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. ... Full story

Sudan project first phase completed

The first phase of a $400 million multi use development project in the heart of downtown Khartoum in Sudan, was completed in December 2011. ... Full story

Egypt eyes $650m of foreign funding

Egypt's ruling military council is set to agree to take foreign funding worth $650 million from the World Bank, European Investment Bank and other institutions, a minister said on Wednesday. ... Full story

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