January 19, 2015
Abuja, Nigeria’s Federal Capital Territory, has been listed as one of the top six emerging real estate investment destinations in Africa. Others are Naivasha, Kenya; Casablanca, Morocco; Jardins de Carthage, Tunisia; Ndola, Zambia and; Algiers, Algeria.
Global property portal, Lamudi, compiled the list of emerging investment hotspots across the continent, based on market trends, infrastructure developments and attractive commercial, residential and industrial real estate opportunities.
The report noted that the FCT is one of the worlds emerging cities. “The Federal Capital Territory continues to attract real estate investors, interested in benefiting from its array of well-developed architecture and strong infrastructure. Abuja boasts good security and a favourable climate for business.
The city’s Business Zone is home to an array of multinational companies expanding their offices into the emerging market. As Nigeria emerges as an attractive investment hotspot, the outskirts of Lagos are also increasing in popularity. Areas including Epe, Ota, Agbara, and Ajah have witnessed a growth in industrial parks, and boast affordable rates whilst in close proximity to the city of Lagos,” it stated
According to the report, Naivasha, which is located 90 kilometers northwest of Nairobi, has attracted a number of developers into the region. It stated that tourist attractions in and around Naivasha, such as the Lake Naivasha, Hell’s Gate, Aberdare Hills and Longonot National Park have led to the town’s development as a preferred getaway location, increasing demand for holiday homes in the area.
On the other cities, the report stated: “Casablanca, Morocco’s industrial and business center is home to numerous Moroccan and international companies, taking advantage of its close proximity to Europe and international trade routes. The dynamic city is increasingly attractive to Morocco’s young population, looking to settle down in a modern area with an abundance of employment opportunities.
“Jardins de Carthage is an attractive option for luxury real estate developers, and house-hunters, looking to invest in upscale property. With Tunisia’s largest airport, Tunis-Carthage located nearby, this modern, residential neighborhood has all of the necessary structures to attract foreign investors.
“The booming manufacturing sector in Ndola, situated approximately 320 kilometers north of Lusaka,presents an abundance of opportunities for industrial real estate, with no signs that the demand for local manufacturing will slow. The city is the industrial and commercial center of Zambia’s copper-mining region and with one of the country’s three international airports located here, its strong transportation connections facilitate industrial development.
“Algiers, the capital of Algeria is emerging as an appealing location for investors. A suburb of Algiers, in northern Algeria, Bab Ezzouar, is one of the fastest growing areas of the city. Home to the most prominent technological university in the country, the University of Sciences and Technology Houari Boumediene, the suburb has a vibrant, youthful community.”
Source: Vanguard NG