Sunday 14, May 2017 by Matthew AmlĂ´t

African real estate—the new driver of the global economy, says 10th Edition Hotelier Summit

With oil prices fluctuating on a daily basis, businessmen, politicians and just about everyone with an opinion knows that there is a need to diversify from a heavily dependent oil-based economy.

Over the last few years, notably in the Hotel, Retail and Residential sectors, Africa’s rapidly growing property markets are attracting increased interest from international investors, developers and occupiers.

In spite of developments occurring at a breakneck speed, the key areas seen continually strapped to the back-bench are financial planning, project execution and most importantly, the implementation of sustainable measures.

The 10th Edition Hotelier Summit, which recently concluded was designed to address this challenge. The summit brought together investors from all over the world to engage with leading industry members in the Sub-Sahara African real estate fraternity.

Delegates such as Mr. Sijibomi Ogundele, CEO of Sujimoto Constructions and Mr. Lee Karuri, CEO of Resorts & Cities Kenya addressed the gathering of global suppliers and investors, outlining their long list of requirements both from an investment perspective and the supply chain perspective.

“I found it very humbling and felt extremely privileged to have been invited to speak on the same platform with South Africa’s Tourism Minister, Ms. Tokozile Xasa, among other respected stakeholders. I met remarkable influencers such as Johannesburg’s Director, Economic Development Facilitation, Ms. Blanche Majosi; CEO Orion Group, Mr. Franz Gmeiner; President Continental Strategy Partners Ltd, Mr. Micah Wells; Nestle Country Head, Consumer Goods Johannesburg, Mr. Madoda Theo Mxakwe; CEO, Grohe, Mr. Michael Rauterkus; amongst an expected 1500 like-minds from 54 Countries across more than three continents, to discuss Africa's explosive property markets and how to continue to attract interest from investors and developers, home and abroad through innovative luxury real estate,” said Sijibomi Ogundele, CEO - Sujomoto Constructions.

Ravi Kumar Chandran, Director of IDE and mind behind the 10th Edition Hotelier Summit Africa explains his vision and drive for Africa, “This year we hosted the inaugural Honorarium Grand to recognise and award the developers who have demonstrated their unwavering commitment towards the growth of the African real estate sector. It is IDE’s pleasure to have got the chance of honoring these personalities as they are able to see through the roughness of the market and take the risk of investing in Africa. Our endeavour is the continue this thought process of development among the real estate fraternity members including developers, contractors, designers, architects, consultants, suppliers and to the policy makers in a given region. By doing so our vision of regrouping the investor community in 2017 for Africa has set the agenda for 2018,” said Ravi Kumar.

Features & Analyses

Investment Banking Creating a diverse bond market

In an exclusive mini roundtable, Nabilah Annuar, Banker Middle East Editor, sits down with Michael Grifferty, President of the Gulf… read more