News
Catch up on the latest real estate news, updates, and development stories from African markets.
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The Western Cape-focused real estate investment trust grew distributable income per share 8.02% to 47.29 cents on a 28.14% rise in revenue, after raising R1 billion in new equity and completing R1.4 billion of acquisitions.
Twenty-one Italian companies are exhibiting at Big 5 Construct Kenya in Nairobi, with the Italian Trade Agency putting two-way trade at about KSh40.95 billion and Italian construction-product exports at KSh1.7 billion.
The deputy finance minister has endorsed a partnership between TCB Bank and developer Makazi Solution that will let Tanzanians acquire surveyed plots on credit instead of paying the full price upfront.
Works and Housing Minister Ahmed Ibrahim wants Ghana to borrow Kenya's National Housing Levy model to fund affordable homes, admitting that any new tax on housing carries political risk.
A bill given first reading in the House of Representatives would bar landlords and agents in the Federal Capital Territory from compelling tenants to pay more than a year's rent upfront, and would create a dedicated tenancy regulator.
Q Developments is targeting about $441 million of investment across a 260-feddan land bank, led by the EGP 7 billion Q Hills project in New Zayed and the EGP 9 billion Q Bay scheme in New Alamein.
CRDB Bank has signed $111 million in financing agreements, including $36 million from Shelter Afrique Development Bank for housing and construction lending and $75 million from FMO for SMEs.
Eighty-three Jua Kali associations supplied windows and doors worth Ksh 264 million for the Pioneer Affordable Housing Project in Eldoret, supporting more than 956 micro, small and medium enterprises.
KAB Construction Limited is developing Lekki Courts, a 350-unit residential estate on Orchid Hotel Road in Lekki, Lagos, which its promoters say is being financed without bank loans or off-plan sales.