Law firms are gearing themselves up to respond to the needs of a growing number of international investors, keen to investigate opportunities in African real estate markets, attracted by the continent’s economic and demographic growth prospects.
According to the Africa Report 2015, issued by Knight Frank in March 2015, the population of Africa will quadruple to over four billion by 2100, with nearly one billion of these people in Nigeria alone – a significant demographic trend for all businesses, not just property developers.
Accommodation and lodging capacity in Maputo will increase from next November with the opening of Torres Rani, a construction project presented Tuesday, the Mozambican press reported.
Torres Rani is project expected to cost US$206 million and is the result of cooperation between Rani Investment, based in Dubai and the Minor Hotel Group of Thailand.
Built on 71,000 square metres in a prime area of the Mozambican capital and overlooking the sea, the two towers presented on Tuesday have a residential part with 181 furnished apartments and an executive part, with an area of 22,000 square metres of office space, plus two floors of covered parking.
Portugal’s Entreposto Imobiliaria plans to invest more than US$25 million in a real estate project in Pemba in northern Mozambique, state radio reported Friday.According to Radio Mozambique, the project will see the construction of a nine-storey building containing 38 apartments, which will be the tallest building outside the capital Maputo.
Farmland in Africa: From subsistence level to massive ranches