News
Catch up on the latest real estate news, updates, and development stories from African markets.
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The Kenya Revenue Authority’s updated rental income guidelines exempt residential landlords earning below Sh288,000 a year from Monthly Rental Income tax, bar expense deductions and confirm a 30 per cent levy on non-residents.
The City of Cape Town is setting up a Strategic Development Applications Hub at the Table Bay district planning office to handle large, complex projects separately from routine land use and building plan submissions.
Prime Minister Mostafa Madbouly says Egypt plans to build 39 new cities by 2050, with work on 27 already under way or complete, arguing that expansion has curbed encroachment on farmland and the growth of informal settlements.
TDC Ghana says Tema Oil Refinery and VALCO owe a combined GH¢581.7 million in rent plus years of unpaid ground rent, with their leases expired and renewal negotiations yet to produce payment.
The Infrastructure Concession Regulatory Commission says concessionary loans, mortgage support and risk-sharing have drawn about $125 million of private investment into the Renewed Hope housing scheme, cutting its effective cost by roughly 30 per cent.
Otumfuo Osei Tutu II has launched a project to reclaim 153 hectares of land degraded by illegal mining across Obuasi East, Adansi Akrofuom and Adansi Asokwa, with AngloGold Ashanti and the Lands Ministry as partners.
Cape Town says it has received no national subsidy payments for its affordable-housing projects since 2021, while the national Department of Human Settlements accuses the city of misrepresenting the facts and failing to prioritise well-located housing.
Kenya's Treasury has drafted proposals to exempt land transactions valued at Sh1 million or less from stamp duty, with progressive rates above that threshold, President William Ruto said at Mashujaa Day celebrations in Eldoret.
El Gouna Red Sea has launched Najan, a boutique village of studios to three-bedroom apartments in low-rise buildings, as the Orascom Development Egypt town expands its western district with a pedestrian-first layout.