From huge money deals to strong industry partnerships, the launch of modern technology and reformed regulations, Africa’s real estate market, despite the high economic volatility, continued to evolve in the past year. As we move forward in 2020 with huge expectations, it is important we recount the major events that shaped 2019 to provide some insights into what to expect in 2020.
Here are our highlights:
What to expect in 2020:
- One of UPDC REIT’s best-performing asset last year was their student housing project in Pan-Atlantic University, Lekki. They plan on switching their strategy in the new year to make their asset portfolio look more attractive. They also mentioned they have eyes on young professional housing developments and will work on making them affordable and accessible for the target market.
- Given the reduction in returns from treasury bills and other similar investments in Nigeria, investors are expected to explore other asset classes, real estate inclusive. A new strategy into higher-yielding real estate investments should increase interest in real estate investments.
- Following the investments by WeWork in South Africa, WeWork mentioned they will be making some announcements on their Africa strategy soon as they look to opening new locations across Africa.