What are the up-and-coming real estate opportunities in 2015?
When discussing investment opportunities for real estate, people normally think of cities such as London or New York. However, emerging cities across Africa are filled with opportunities for those looking to invest in property.
Global property portal, Lamudi, has compiled a list of emerging investment hotspots across the continent, based on market trends, infrastructure developments and attractive commercial, residential and industrial real estate opportunities.
With its status as one of the world’s 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.
Located 90 kilometers northwest of Nairobi, Naivasha has attracted a number of developers into the region. 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. With an environment conducive to both business and leisure, in addition to the availability of land, 2015 will see growth in residential, commercial and industrial real estate investment opportunities in Naivasha.
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. The city is seeing a number of commercial development projects taking place to improve the retail and entertainment facilities on offer.
Jardins de Carthage, Tunisia
This recently established neighborhood, south of the historic site of Carthage, has become a hotspot for luxury real estate. With the popular tourist site in close proximity, 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.
Ndola, situated approximately 320 kilometers north of Lusaka, has seen extensive development in recent years. The booming manufacturing sector 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.
Nicknamed ‘Alger la Blanche’ after the sea of white buildings within Algeria’s capital, Algiers is emerging as an appealing location for investors. The country’s growing economy in recent years has positively impacted the local construction and real estate sectors. 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.