Sky Investments set to manage City Edge Developments’ project

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

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

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

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

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

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

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

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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Kenya is set to hand over chairmanship of Shelter Afrique to Cameroon’s Hon. Courtes

AFRICA – Kenya is set to hand over chairmanship of Shelter Afrique’s AGM Bureau to Cameroon after Hon. Celestine Ketcha Courtes she was elected in 2020. Kenya’s Transport, Infrastructure and Housing Cabinet Secretary James Macharia who is the current Chairman of Shelter Afrique Annual General Meeting (AGM) Bureau will hand over the mantle to Hon. Courtes who is the Minister of Housing and Urban Development of Cameroon. He will hand it over at the Company’s 40th AGM and annual housing symposium scheduled to take place between 20th – 26th June…

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Real estate company El Baron Developments launches US$41m Vigor project

EGYPT – El Baron Developments, an Egyptian Real Estate, has launched a new project, Vigor, in the Downtown area at the New Administrative Capital, eastern Cairo, with a total investment of approximately EGP 650 million (US$41.52 million). According to Chairperson and Managing Director Hazem Zarif, the Vigor project is a commercial and medical administrative building situated on 4,700 sqm. It comprises 11 floors; each is 1,138 sqm. The project will offer units with various sizes. A contract was signed with the KAD Commercial Property Management responsible for managing the project…

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