News
Catch up on the latest real estate news, updates, and development stories from African markets.
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Construction of 790 Kenya Defence Forces housing units at Kwambuzi Military Camp in Nanyuki is 98 per cent complete, part of 3,069 units being built for KDF personnel under a public-private partnership.
Tanzania's Deputy Minister for Lands, Housing and Human Settlements Development has clarified that landowners get a six-month grace period to pay annual land rent before interest is charged, at 0.5 per cent per month.
South Africa has launched a real estate learnership programme in Mpumalanga, the second province to roll it out, to equip young people from historically disadvantaged communities with skills for careers in the property sector.
Kenya is exploring long-term financing options, including with the World Bank, after the 1.5 per cent housing levy proved insufficient to fund its target of building 200,000 affordable homes a year.
Lands Cabinet Secretary Alice Wahome has urged Kenyan architects and quantity surveyors to reach quick consensus on the proposed Architectural and Quantity Surveying Practitioners Bill, warning that delay could hurt its legislative timeline.
Official data from Statistics South Africa shows home values in Limpopo rose 9.5% year on year, making the province the country's second-fastest growing residential property market behind the Western Cape.
Abuja-based K-Haven Luxury Homes and Properties says it will begin property development in Abuja and Lagos, targeting quality construction at reasonable prices and offering diaspora Nigerians managed building projects with progress monitoring.
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.