Real estate is a thriving industry in most
African states with massive construction
activity in cities and emerging urban areas.
A growing population, increased income
levels and economic growth has created
more demand for residential and commercial
property. Institutional investors, both local
and international, are also pumping millions
of dollars into retail property.
However, the focus is not only on the
traditional Nairobi, Lagos and Johannesburg
hubs. According to property portal Lamudi,
which focuses on emerging markets, likely
real estate opportunities in 2015 lie in
emerging cities.
The company has identified six investment
hotspots in Africa based on market trends,
infrastructure developments and attractive
real estate opportunities. Read on

1. Abuja, Nigeria
Although Abuja is the capital city, the commercial hub
Lagos has a bigger population and attracts more
businesses. But due to its growing status as one of the
world’s emerging cities, Abuja is increasingly attracting
real estate investors. Its strengths lie in well-developed
architecture, strong infrastructure, good security, a
favourable climate for business and a growing number of
wealthy residents.

2.Naivasha, Kenya
For many years Naivasha was mostly know for its
horticulture and flowers exported to European markets.
But these days the town, located 90km north-west of
Nairobi, is both a popular tourist destination and
emerging real estate market. It attracts investments in
both leisure and retail property. Last year, Buffalo Mall,
the first shopping centre in Naivasha, opened its doors.
Other notable projects include the Aberdare Hills Golf
Resort targeting wealthy Kenyans and expatriates, and
the Longonot Gate luxury homes development. In 2014
Gems Cambridge International School, which is associated
with Dubai-based investors, acquired land in Naivasha to
put up the international-curriculum learning institution.

3. Casablanca, Morocco
Also known as ‘White house’, Casablanca is Morocco’s
industrial and business hub. The city hosts numerous local
and international companies. Some of its strengths
include close proximity to Europe, and the Port of
Casablanca, one of the largest artificial ports in the world
and a key international trade route for Morocco . The
Casablanca Stock Exchange is Africa’s third-oldest with
more than 75 quoted companies, both local and
international.
A 2014 survey by Lamudi shows Casablanca is most-
popular location for house-hunters looking for residential
property. The North African country’s youthful
population finds Casablanca endearing because it offers
employment and economic opportunities, and a modern
lifestyle.

4. Jardins de Carthage, Tunisia
Located south of the historic site of Carthage, this
recently established neighbourhood has become a hotspot
for luxury real estate. The residential neighbourhood hosts
Tunisia’s largest airport, Tunis-Carthage, and is close to
popular tourist sites making it attractive to luxury real
estate developers and foreign investors.

5.Ndola, Zambia
Situated 320km north of capital Lusaka, Ndola is the
gateway to the country’s mining industry. The third
largest city in Zambia, Ndola is experiencing a boom in
industrial real estate driven by a strong manufacturing
industry . The city hosts a major copper refinery industry,
cement manufacturing facilities and a transformer
manufacturing plant.
Industrial development is also driven by its strong
transportation connections facilitated by an international
airport, its location at the junction of roads leading to
several cities and towns and the oil pipeline from Dar es
Salaam in Tanzania , which ends at the Ndola refinery.
Ndola is also significant commercially with a good
presence of insurance companies, local banks as well as
hosting a major centre of operation for the country’s
central bank, the Bank of Zambia.

6. Algiers, Algeria
Although ranked as one of the least liveable cities in the
world by The Economist , the vibrant capital of
Algeria is emerging as an appealing location for investors.
New suburbs are being created to the south to house the
city’s growing population. The real estate sector is
growing partly due to overall economic growth in Algeria
and good infrastructure in the city and within
neighbouring suburbs. Some of the strengths include the
Houari Boumediene international airport, a subway line
that opened in 2011 and a port which is key for the
import of raw materials and industrial goods. Algiers is
also an administrative and financial centre.


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