Tuesday 25 January 2022

African real estate is 'the new global economy driver'

JOHANNESBURG, May 11, 2017

Over the last few years, notably in the hotel, retail and residential sectors, Africa’s rapidly growing property markets have been attracting increased interest from international investors, developers and occupiers.

In spite of developments occurring at a breakneck speed, the key areas seen continually strapped to the back-bench are financial planning, project execution and most importantly, the implementation of sustainable measures.

The 10th Edition Hotelier Summit, which recently concluded, was designed to address this challenge. The summit brought together investors from all over the world to engage with leading industry members in the Sub-Sahara African real estate fraternity.

Delegates such as Sijibomi Ogundele, CEO of Sujimoto Constructions and Lee Karuri, CEO of Resorts & Cities Kenya, addressed the gathering of global suppliers and investors, outlining their long list of requirements both from an investment perspective and the supply chain perspective.

“I found it very humbling and felt extremely privileged to have been invited to speak on the same platform with South Africa’s Tourism Minister, Tokozile Xasa, among other respected stakeholders. I met remarkable influencers such as Johannesburg’s director, Economic Development Facilitation, Blanche Majosi; CEO Orion Group, Franz Gmeiner; president Continental Strategy Partners, Micah Wells; Nestle country head, Consumer Goods Johannesburg, Madoda Theo Mxakwe; CEO, Grohe, Michael Rauterkus; amongst an expected 1,500 like-minds from 54 Countries across more than three continents, to discuss Africa's explosive property markets and how to continue to attract interest from investors and developers, home and abroad through innovative luxury real estate,” said Ogundele.

IDE is committed to transforming the real estate sector across the continent and make Africa the next frontier when it comes to exceptional hospitality and excellent development.

In the bid to make our vision a reality, the next phase of our mission will be to reach out to the North African members through the 13th edition Hotelier Summit-Africa in Casablanca Morocco on October 6 and 7.

The year 2017 will be rounded by gathering affiliates from across the continent back to Johannesburg in November to engage in project feasibilities during the IDE Expo Africa. The IDE Expo will cater to five different sectors of the real estate industry - residential, commercial, healthcare, education and hospitality and the scope of the discussions will cover the entire lifecycle of the project from conceptualization to operations.

Ravi Kumar Chandran, director of IDE and mastermind of the 10th Edition Hotelier Summit Africa, explained his vision and drive for Africa: “This year we hosted the inaugural Honorarium Grand to recognize and award the developers who have demonstrated their unwavering commitment towards the growth of the African real estate sector. It is IDE’s pleasure to have got the chance of honouring these personalities as they are able to see through the roughness of the market and take the risk of investing in Africa. Our endeavour is the continue this thought process of development among the real estate fraternity members including developers, contractors, designers, architects, consultants, suppliers and to the policy makers in a given region. By doing so our vision of regrouping the investor community in 2017 for Africa has set the agenda for 2018,” said Ravi Kumar.

Kgosi Nyalala Pilane, the chief of Pilanesberg, fittingly concluded the first day of the summit when he said that for an economy to develop, what is needed is people, land and resources. Africa is blessed with at least two of the three factors - people and land. With 66.6 per cent of the ingredients available, all we need is a platform like the Hotelier Summit Africa to make the plans and kick-start the development growth curve. - TradeArabia News Service

Tags: hotel | economy | Africa | retail | estate | global | real | driver |

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