News
Catch up on the latest real estate news, updates, and development stories from African markets.
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Human Settlements Minister Thembi Simelane says South Africa's housing backlog stands at about 2.6 million people, with demand for affordable housing continuing to outstrip supply, as the National Housing Finance Corporation marked its 30th anniversary.
President Cyril Ramaphosa has welcomed the opening of South Africa's first Club Med resort in KwaZulu-Natal, a more than R2 billion development he described as the largest hospitality investment in South Africa and SADC since Sun City opened in the 1970s.
The Nairobi County Assembly's planning committee has opened investigations into stalled urban renewal schemes, including the Pangani-Ngara "Jevanjee" project, amid concerns that buyers are servicing loans for homes they have not received and that county land titles were used as loan collateral.
Egypt's Cabinet has approved a draft decision establishing an investment zone for Qatari Diar's Alam Al Roum project, a mixed-use development covering about 4,900 feddans on the North Coast, with total targeted investments of $29.7 billion.
Uganda's Anti-Corruption Court has sentenced two Lira District local government officials after they admitted facilitating an irregular land title for property belonging to the district that was titled in a private individual's name.
Tension erupted in Ruai after police clashed with residents while enforcing an eviction order against a widow who says the disputed parcel of land has been her home for more than three decades.
Anambra State Governor Chukwuma Soludo has promised to compensate residents whose residential buildings were demolished during the widening of the Afor Nnobi roundabout in Idemili South Local Government Area.
A 28-year-old Harare man has appeared in court accused of selling a 3,200 square metre residential stand using a forged City of Harare offer letter and a fake survey diagram, leaving the buyer US$45,000 out of pocket.
Singapore's Banyan Group has acquired a majority stake in Newmark Hotels & Reserves, adding 26 hotels, lodges and game reserves across seven African countries. Founder Neil Markovitz stays on as chief executive.