Firm predicts massive scramble for African real estate in 2018
Demand for investment in African real estate is expected to reach a fever pitch in 2018, and beyond, as the continent’s markets turn to growth after years of trying trading conditions.
The prediction, Africa’s leading provider of real estate development and investment conferences, API Events said, followed macroeconomic indicators released recently by the International Monetary Fund (IMF) pointing to a surge in real Gross Domestic Product (GDP) growth of 5per cent across 18 economies in sub-Saharan Africa.
Reinforced by the World Bank’s 2018 Economic Outlook predicting overall growth of 3.2 per cent, the firm said, demands for investment opportunities especially in the real estate sector are increasing.
“Following successful year in which we launched new conferences in challenging economic conditions. We will continue to set the agenda for the property industry as we enter what many property experts are calling the ‘second scramble for Africa”.
“Critical to its success was the impact of its theme: “Changing the West Africa Narrative”, which challenged speakers, panelists and delegates to unpack factors that will rekindle investment back into the region”, API Events stated.
According to the firm, “It becomes apparent that Africa’s sleeping ‘lion economies’ are waking up with Ghana predicted to grow at 8.9per cent, Cote d’Ivoire 7per cent and Senegal around 7 plus per cent.
“Kenya and Mozambique are also predicted to grow substantially with the former completing its election cycle and the latter’s debt issues being resolved by the proactive leadership of its new president and the much-anticipated LNG Gas project now back online”.
In line with these growth trajectories, API Events’ leadership team aims to expand its distinctive portfolio of events for learning, discussion, and, most importantly, deal-making to these surging economies by delivering events focused on each of their unique opportunities and challenges.
API Events’ managing director, Kfir Rusin, said the firm in 2018, will continue to provide value to sponsors and delegates needs as it underscores the importance of real estate to economic growth and prosperity to African Government stakeholders under the theme of ‘Making Real Estate Matter’.
The increasing receptiveness of Africa’s policymakers to engage on topics such as unlocking pension fund capital; creating linkages between the public and private sectors and inter-country cooperation, he said, will ensure that its conferences will continue to provide the most valuable and actionable insights into Africa’s burgeoning real estate markets in 2018, and in the future.
“In 2017, API Event provided valuable insight and actionable intelligence for our delegates and sponsors at the regional and national conferences, which were held in Kenya, Nigeria and Zambia.
“Our flagship continent-wide focused API Summit in Johannesburg also continues to grow from strength to strength, and we look forward to an exciting and prosperous 2018 for the property industry,” he added.
Speaking on its final event of 2017, the West African Property Investment (WAPI) Summit, held in Lagos, Rusin said the decision to relocate to Nigeria, the continent’s largest and arguably most complex economy, was met with approval by delegates and sponsors alike.
Critical to its success was the impact of its theme: “Changing the West Africa Narrative”, which challenged speakers, panelists and delegates to unpack factors that will rekindle investment back into the region.
For Rusin, what differentiates API Events from its competitors is that it is an events company filled with property professionals who believe that real estate investment can provide solutions to some of the continent’s perennially vexing challenges of inequality, poor infrastructure and social stability.
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