Real Estate Gazette: focus on Africa’s burgeoning real estate sector and investment opportunities

Issue 26

Real Estate Gazette 26

Real Estate Gazette Series

Real Estate Update

podle:

We would like to welcome all our readers to Issue 26 of DLA Piper's Real Estate Gazette.

Think of Africa and chances are you will be transported to a sun-blushed savannah, where beautiful wild elephants roam across the plains. Or you may think of the monolithic churches of Ethiopia, the reggae and hip hop sounds of Sub-Saharan Africa. Chances are you will not immediately think of a burgeoning real estate sector, investment opportunities and related legal developments. However, as the articles in this issue show, the world's second continent may offer real opportunities to foreign investors in real estate.

Amongst others, contributions discussing Angola, Ethiopia and Mozambique, all report increased demand in the real estate sector. Indeed, in Ethiopia the sector has contributed 12.5 per cent to domestic growth in the past 10 years, whilst the recent discovery of natural resources in Mozambique has led to increased demand there in several sectors, including real estate, which is regarded as one of the best investment opportunities in the country.

A selection of articles is below, alternatively you can download the complete Real Estate Gazette in two formats:

We do hope you will enjoy reading our views, and if you would like more information on any of the topics featured in this issue, please do get in touch with the authors.

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  • Land acquisition for real estate development in urban areas of Ethiopia
    28 NOV 2016

    The real estate sector has been one of the fastest growing segments of the Ethiopian economy. The sector has contributed 12.5 per cent to domestic growth in the past 10 years.

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  • Hotel investment in Africa - the 'big five' legal issues
    28 NOV 2016

    Safari enthusiasts typically focus on spotting the big five game animals. For potential investors into the African hotel sector, we discuss in this article the big five legal issues to spot. Africa is a vast continent comprising 54 legal systems, so robust local law advice for each country within the continent is a necessity. This article is intended to highlight headline issues to prospective investors and should not be considered exhaustive.

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  • On safari: South Africa hunts deals in CEE and SEE
    28 NOV 2016

    The real estate community was abuzz in March 2016 when South Africa's Redefine Properties acquired a 75 per cent stake in Poland's Echo Prime Properties' 18-asset portfolio, a deal valued at EUR 1.2 billion. This marked the largest offshore purchase to date by a South African property company and moreover, the largest transaction in the history of the Polish real estate market.

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  • Project financing in Sub-Saharan Africa
    28 NOV 2016

    The World Bank estimates that Africa’s annual infrastructure financing requirements are US$ 93 billion, roughly equivalent to 15 per cent of the continent’s GDP. As this amount dwarfs available in-country resources, there has been an effort to seek alternative financing throughout much of the continent in order to address the gap. This insufficiency in infrastructure financing is felt most acutely in Africa’s power sector where it is estimated that only about 30 per cent of Sub-Saharan Africa’s population have access to stable electricity, stifling economic growth throughout the Sub-Saharan region.

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  • Even the Supreme Court makes mistakes sometimes
    28 NOV 2016

    In a recent case concerning registration tax and particularly the interpretation of article 20 of Registration Tax Act, the Italian Supreme Court gave a surprise judgment that may well create confusion and uncertainty, as well as frustrating the Government’s attempts to attract foreign investment.

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