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Africa = Future

Africa = Future
3rd April 2017

Africa = Future

It would be easy to underestimate the impact of global megatrends on Africa. After all, the continent’s real estate markets have traditionally lingered behind developed and even many developing economies. However, expert real estate advisor and venture capitalist J.X. Paulin – who helped build Shanghai during its industrial revolution, and directs cross-border businesses between Africa and China – suggests the impact of global megatrends on Africa will be huge, declaring that, “Africa is the world’s future”.

Considering that asset prices are on the ascent globally, 2017 could potentially be a prominent year for the vast continent, which has seen considerable profit margins, notably in the hotel and retail sectors. East and South Africa have enjoyed strong hotel, resort and office development, while Hilton Worldwide has unveiled plans to build the tallest hotel in Kenya’s capital, Nairobi, expected to open in 2020. An estimated $110 million has been budgeted for the construction of what could be the tallest hotel in Africa.

Eugene O’Sullivan, Managing Director at Morgan Pryce, says: “An interesting trend has recently emerged, of London commercial and residential property companies packing their bags and bringing their investment cases to Africa. Knight Frank, a major player in the British real estate sector, is now active in numerous different African countries, and has taken the lead in many investment operations. Since 2000, Africa has achieved an average growth of over 5% per annum. The larger emerging economies of this region, such as Nigeria, Kenya, Angola and Ethiopia, have increasingly been the key drivers of the continent’s growth, and the figures fascinate many British investors”.

Post-Brexit, the South African investment community has attracted the attention of several other significant, UK-listed limited companies looking to make an ‘African Fortune’ through real estate investments. Fraser Williams, London’s commercial property tycoon and trading specialist, observed that, “The Johannesburg stock exchange has been heavily exposed to the UK property sector and British sterling offers growth at an exponential rate”.

Africa is the most populated continent, with around 1 billion inhabitants, or 15% of the world’s population. These figures are a clear indication of the vast potential that the continent holds. Africa and other developing countries alike are undoubtedly our future. 

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.

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