News
Catch up on the latest real estate news, updates, and development stories from African markets.
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Egypt is preparing a dedicated law to regulate the real estate development market and will submit it to the House of Representatives as soon as possible, Prime Minister Mostafa Madbouly said, amid a government push to protect buyers and developers.
Developers are increasingly seeking financing for housing projects in prime Lagos areas such as Ikoyi, Victoria Island and Lekki, driven by infrastructure and growing middle-class prosperity, says Sage Grey Group Managing Director Temitope Runsewe.
The Federal Government says it is ready to deepen engagement with TEC Engineering (Nigeria), a China Railway International Group subsidiary, on large-scale housing delivery, urban renewal and public-private partnerships.
FirstTrust Mortgage Bank has launched a suite of mortgage and real estate development products with facilities of up to N250 million and repayment tenors of up to 20 years, targeting individual buyers, self-employed professionals and commercial developers.
Tanzania has reduced the cost of planning and surveying a plot in developed areas to TZS 130,000 under the 2021 Regularization Guideline, down from as much as TZS 400,000, as the government pushes more urban landholders to formalise titles.
President William Ruto toured affordable housing and market projects in Kajiado County, including the KSh2.18 billion Boma Yangu Loitoktok development that will deliver 751 homes, as the national programme grows to 282,000 units.
The Kaduna State House of Assembly is considering legislation to regulate residential rents across the state, as rising accommodation costs put increasing pressure on household incomes.
Ethiopia is establishing its first dedicated mortgage refinance company, capitalised at 100 billion birr (about $620 million), under a National Bank of Ethiopia and IFC cooperation framework aimed at unlocking long-term housing finance.
Ghana's Local Government Minister Mahama Ayariga has announced plans to redevelop the Korle Lagoon slum in Accra into high-rise container housing, beginning with a military-led evacuation and clearing of the dumpsite.