Category: Infrastructure, Construction & Real Estate

Margin Development commences construction works in its US$63m Zia project

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EGYPT – Margins Development, a real estate developer, has begun excavation and construction works of its new project, Zia, with an investment of EGP1 billion (US$63.74 million), reports Daily News Egypt. According to Vice Chairperson and Managing Director Ashraf Shaheen, Zia is comprised of commercial, medical and administrative units. Shaheen added that the investments that have been pumped into the project, located in the New Administrative Capital’s (NAC) Downtown area, has reached. The company has recently signed a project management cooperation with the UAE’s EFS Group, which is specialised in…

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Property developer Acorn Holdings launches construction of a US$17.6m students hostels

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KENYA – Real estate developer Acorn Holdings through its subsidiary Spruce Properties Limited Liability Partnership, has launched the construction of its US$17.6 billion student accommodation hostels in Nairobi’s Karen under the Qwetu and Qejani brands. The 3,591 room-hostels will sit on a 5-acre plot, comprising nine residential blocks, which are expected to be completed by the end of 2022. The development is expected to serve about 10,000 students from JKUAT Karen Campus, Catholic University of East Africa, Cooperative University, Kenya School of Law and other institutions around the area. According…

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Sky Investments set to manage City Edge Developments’ project

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EGYPT – City Edge Developments, a real estate developer and development manager, has signed a strategic memorandum of understanding with Sky Investments, a private investment company. The MoU allows the City Edge to take part in the marketing, leasing, and property management of Sky Investment in CED’s project in Sheikh Zayed. Moreover, the two companies will participate in financing, construction, marketing, selling, or leasing of CED’s future projects and any new activities and operations, whether at the residential, commercial, administrative, hotels, or recreational levels. “The signing comes as part of…

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Orange Egypt to provide SODIC’s customers with value-added services

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EGYPT – Orange Egypt, a telecommunications services provider, has signed a cooperation agreement with Six of October Development and Investment Company (SODIC), to provide a variety of services that keep pace with the technological updates and development needed for residential compounds’ customers. The services will provide them with value-added services that will contribute to the development of the real estate market and its lifestyle. The agreement entails the provision of Orange Triple Play services; “high-speed Internet, IPTV and landline services”, in addition to the provision of IoT, Smart Homes, and…

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Property management platform Seso Global raises US$600,000 pre-seed funding round

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NIGERIA – Seso Global, a property management platform, has raised a US$600,000 pre-seed funding round in its bids to build on strong initial traction to challenge Salesforce in property managing in emerging markets. Investors in the round included Kepple Africa Ventures, Rising Tide Africa, and Moabi Group, as well as angel investors Albert Essien, Ibrahim Sanga, and Jamie Broderick. Founded in 2019, Seso has created a customer relation management (CRM) portal that enables property developers, agents and governments to manage their properties, documentation and transactions on a secure blockchain database.…

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IFC in new pact to develop affordable housing units in Kenya

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KENYA – The International Finance Corporation (IFC), a member of the World Bank Group, has signed a new deal with Belco Realty LLP, a real estate development firm in support of affordable mixed use affordable living complex in Mombasa, Kenya. The mixed-use affordable housing will consist of 1,379 residential units and over 4,500 square meters of retail and commercial spaces in Kongowea, Mombasa County. Together with the Kenyan firm, IFC says the partnership will help meet surging demand for housing in Kenya. Under the agreement, IFC will help identify suitable…

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Jamie Pujara – Hospitality Guru Wins Global Award As He Dabbles Into Real Estate To Pivot From Covid-19

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Jamie Pajura was recently awarded the prestigious Mark Lincoln Volunteer of the Year Award 2021 by the Entrepreneurs’ Organization for his selfless dedication to helping fellow business owners survive the Covid-19 pandemic. An entrepreneur whose family opened Nairobi’s first Chinese restaurant Tin Tin Restaurant in 1978, he is an avid investor with prior forays into E-commerce and has recently entered the real estate business. Africa Inc. magazine had a chat with Jamie Pujara.

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Shelter Afrique and BancABC sign US$11m deal for 2,500 housing units in Zimbabwe

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ZIMBABWE – Pan-African finance institution that exclusively supports the development of affordable housing and real estate sector development in Africa Shelter Afrique, has signed US$11 million housing deal with Harare-based African Banking Corporation (BancABC) that will finance construction of 2,500 housing units and help buyers get mortgage loans. According Shelter Afrique Group Managing Director Andrew Chimphondah, the facility targets construction of residential housing units home extension & improvement, onward lending to affordable housing projects, and financing small-scale commercial project such as small shopping malls. “Our Centre of Excellence research shows…

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Real estate search engine Aqarmap launches service for efficient interaction for their customers

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EGYPT – Real estate search engine Aqarmap has launched the Aqarmap Matcher service, to increase the efficiency of interaction between sellers and buyers, and to benefit from lost marketing opportunities in supply and demand. According to Daily News Egypt, this will achieve compatibility and concordance between both buyers’ and sellers’ interests, through a database that includes 7.9 million clients interested in real estate. The platform includes the biggest database of clients in the real estate market, which has been compiled over 10 years. Business Development Manager Ahmed Abd El-Fattah said…

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Real estate services firm Avison Young join hands with Empact CRES, opens first office in Africa

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SOUTH AFRICA – Global commercial real estate services firm Avison Young has announced an expansion of its service delivery to clients across Europe, Middle East, and Africa with the addition of Empact Corporate Real Estate Services (Empact CRES), a full-service commercial real estate services firm in South Africa. It will rebrand as Avison Young and provide customized real estate solutions throughout South Africa and in sub-Saharan Africa. “The team in South Africa share a fundamental belief in delivering the positive impact that commercial real estate can make in people’s lives across the African content,” said Mark Rose,…

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