The report provides an overview of industry developments in South Africa, Mozambique, Zimbabwe, Namibia, Zambia, Nigeria, Ghana, Kenya, Tanzania and Mauritius. In each case, the report offers an explanation of the economic and political events taking place within the country, how these are impacting on the industry, and what this means for property stakeholders.
“Our report shows that the outlook for the African property industry is, on the whole, positive,” says Marna van der Walt of Cushman & Wakefield Excellerate. This assessment is based on the recovery of several economies, especially in markets like Nigeria and Zimbabwe.
The report notes that political developments in several countries have had a positive spinoff, helping to revive previously stagnant sectors and therefore driving new developments in the industrial space. South Africa and Zimbabwe are both examples here, with the change in political regimes fostering renewed business confidence.
Other countries deserving of mention include Ghana and Mauritius, where concerted efforts on the part of the government have successfully sparked development in several business categories, with positive implications for economic growth impacting on demand in the sector.
Namibia and Mozambique have also been earmarked in the report as markets to watch, along with Kenya, Tanzania and Zambia.
In each instance, Cushman & Wakefield Excellerate has outlined critical nodes that are likely to offer attractive prospects for investors, or which may evolve to become essential property hubs. The report further provides details of landmark developments underway in each market.
“Our message is clear: While African countries have faced their share of challenges and continue, there are many markets worth exploring, with great potential for further development,” says Van der Walt. She adds that urbanisation will remain a major driver in this regard.