Five real estate trends and opportunities in Africa
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Loading... - Angela Majok
- 04 Apr 2023
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Work-from-home has not replaced the office; corporate accommodation presents attractive potential; and industrial real estate continues to outperform.
These are some of the property trends and opportunities on the continent, according to Niyi Adeleye, Standard Bank’s head of real estate finance for Africa, excluding South Africa. Here are highlights from his conversation with Jaco Maritz.
1. The office is not dead
Adeleye says the Covid-19 pandemic has not had a significant impact on demand for office properties in most of the countries he covers. “Employers continue to encourage a centre of commercial activity, which remains the office.” One of the reasons why office rentals have been more resilient is because working from home is a less attractive proposition in many African countries where there is unreliable business infrastructure, such as internet connectivity and electricity. The benefits of in-person collaboration is also more critical in complex environments.
2. Opportunity: housing solutions for international organisations
According to Adeleye, there is an opportunity to develop corporate accommodation projects anchored by multinational companies and international government entities operating in Africa. These organisations often have a presence in several African countries, and developers can therefore cater for their corporate residential needs in more than one market. Read More…
