News From The Web

Browse through our curated selection of African economic, real estate and infrastructural stories from around the web.

Tuko

Nairobi's Britam Tower featured among top 10 skyscrapers in the world

February 18th, 2019

Britam Tower, developed by Britam Properties Limited, is the tallest building in East and Central Africa and is the insurance company's flagship project for its property strategy. It was assessed among other buildings in Europe, Asia and the United States that included Generali Tower in Milan, Chicago’s 150 North Riverside and Riverpoint.

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BUSINESSDAY

Nigerian Breweries down 9.64% after first revenue decline in 5 years

February 18th, 2019

Shares of Nigerian Breweries, the largest brewing company in Nigeria on Monday slumped by 9.64 percent after the company recorded its first revenue decline in the last five (5) years. The decline which came in the first trading session after the postponement of the general elections by INEC was attributed to the company’s weak financial…

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The Guardian

Portfolio investors gain in Nigeria’s $17b capital inflow

February 15th, 2019

The record of foreign inflow into the country in 2018 at $16.81 billion has shown that investors targeted portfolio investments also known as “hot money” rather than establishing institutions and staking in existing ones....

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Business Daily

Interbank rate down to an eight-year low

February 14th, 2019

The rate at which banks lend each other has fallen to an eight-year low as shilling liquidity in the market remains high, leading to over-subscription in the government securities auctions. Latest Central Bank of Kenya (CBK) data shows the rate —interbank rate used for emergency borrowing — fell to 1.41 percent on Tuesday, the lowest level seen since the beginning of March 2011.

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Soft Power News

Victoria Mall Entebbe Had the highest footfall in E.Africa

February 14th, 2019

Victoria Mall in Entebbe had the highest footfall per square meter of gross leaseable area of any mall in East Africa, at 41 per square meters per month in the second half of 2018, a new report released by property consultant firm KNIHGT FRANK Uganda indicates....

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Business Day

FG, Dangote flag off reconstruction of Ofeme road network

February 13th, 2019

Succour and development will soon come to the people of Ofeme Community in Abia State, as the Federal Government and Dangote Industries Limited Tuesday flagged off the reconstruction of the roads and bridges in the community. The construction of the road will be handled by AG-Dangote, a subsidiary of Dangote Industries Limited. The project is…

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BusinessChief

Top 10 tallest skyscrapers in Africa

February 12th, 2019

Business Chief has created a list of the tallest skyscrapers Africa has to offer, spanning from Tanzania to South Africa. The measurements are according to The Council of Tall Buildings and Urban Habitat (CTBUH).

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BusinessReport

US based institute of real estate management opens first African chapter

February 12th, 2019

DURBAN – US-based Institute of Real Estate Management (IREM) officially launched its first African Chapter at the Sandton Convention Centre in Johannesburg on Wednesday, 6 February 2019, increasing its global footprint to 15 international chapters and over 20 0000 individual members.

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Construction Review Online

Construction of 900 housing units in Uganda commissioned

February 11th, 2019

The government of Uganda has officially commissioned construction of the 900 two bed-roomed units units for resettling Elgon landslide families in Bunambutye Sub-County, Bulambuli district.

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Creamer Media's Engineering News

Association expects re-rating for South African Reits

February 11th, 2019

Industry association, the South African Real Estate Investment Trust, says the South African real estate investment trust (SA Reit) industry is headed for a re-rating, either this year or next.

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Independent

Firm Launches Two Housing Projects

February 11th, 2019

One of the leading real estate development companies, Design Union has introduced into Nigeria’s real estate market, two state of the art luxury properties in Lagos, Eden Heights and Ilupeju Gardens.

Located on Elsie Femi Pearse, Off Adeola Odeku Street, Victoria Island, Eden Heights comprises a total of 27 apartment units that include 18 units of 3 bedroom apartments and nine units of four bedroom penthouses (all en-suite).

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Investorsking

Lagos Waterfront Project To Gulp N59.8bn

February 11th, 2019

A new luxury waterfront development in Lekki Phase 1 area of Lagos is expected to gulp about N59.8bn ($165m), the developers said.

The contemporary mixed-use development comprising five 17 to 20 storey residential buildings of one, two and three bedroom apartments is being developed by the Elalan group and African Capital Alliance Group on 37, 000 square metres of sea view land.

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TheGuardian

Nigeria cities burdened by inadequate planning, urbanisation

February 11th, 2019

The true scale of the housing challenge can be gleaned from the fact that it is estimated that about 108 million Nigerians are homeless based on an average family of six people per housing unit.

The figure puts Nigeria high in the global figure of 1.6 billion people that lacked adequate housing according to Habitat’s report in 2015....

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Reuters

WeWork picks South Africa for first African foray

February 7th, 2019

U.S. shared workspace provider WeWork plans to launch in South African later this year, it said on Thursday, a move that would mark the first African expansion for the $47 billion New York-based company. The firm, backed by Japan’s SoftBank Group Corp, will team up with Redefine Properties, one of South Africa’s biggest real estate companies, in opening its first location in the upmarket Johannesburg suburb of Rosebank in the third quarter of the year.

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BUSINESS DAY

Diaspora Lakeview, Thesaurus Gardens collaborate to provide Nigerians with affordable homes

February 4th, 2019

In a bid to ensure that Nigerians home and abroad own homes,Diaspora Lakeview Estates Ltd has partnered with Thesaurus Gardens to provide affordable housing. This joint venture seek to improve and restore confidence of Nigerians abroad who have always wanted to invest in Nigeria but have fallen victims to land grabbers popularly referred to as…

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