Real Estate in the Real Economy
Supporting growth, jobs and sustainability
Real estate, as a general term, describes the built environment, which plays a vital role in every aspect of the African economy, society and environment. Businesses and society can't function without the services of commercial property, including the provision of offices, shops, factories, housing and many other forms of real estate. The commercial property sector delivers and manages the infrastructure needed for entrepreneurship to thrive. It is therefore a fundamental source of employment and economic growth, and a major contributor in addressing two critical challenges of our time: providing liveable and functioning cities for a growing urban population and reducing the environmental footprint of the built environment.
The efficiency of the process through which the African real estate industry invests, develops, supports, and maintains the built environment, and services its clients, is of crucial importance to policy makers. Although there are many factors that influence the well-being of the citizens and the African economy, a performing real estate sector provides the basic platform for all these other factors to deliver their full potential, and for the Afriacn economy to thrive and remain competitive.
With an urbanized population amounting to over 400 million, constituting 40% of the continent's total population, and average household size of 5.6, the continent presents lucrative opportunities for real estate investors. Rapid urbanization, increasing income levels and growing middle-class, and governments' renewed focus on the reduction of slums will drive the real estate market across most African countries.
Most employment activity in the commercial property sector is through the construction and repair of buildings. The upkeep, management and care of commercial buildings is also a sizeable activity, undertaken either directly by property owners or on their behalf by a growing number of specialist contractors. All of the above activities are an essential part of maintaining and improving the quality of the accommodation services provided to businesses. While 80% of Africa's GDP comes from urban areas Total FDI into Africa in the real estate sector increased between 2003 and 2012 alone. Real estate thus constitutes 55% of the total foreign capital invested into the continent between 2003 and 2012.
Commercial property, other than residential, encompasses shops and retail outlets, offices, warehousing and light industrial premises, as well as hotels, leisure facilities and other forms of infrastructure. New forms of commercial property are continuously emerging.
Read more articles on http://www.lamudi.com.ng/journal
Real estate, as a general term, describes the built environment, which plays a vital role in every aspect of the African economy, society and environment. Businesses and society can't function without the services of commercial property, including the provision of offices, shops, factories, housing and many other forms of real estate. The commercial property sector delivers and manages the infrastructure needed for entrepreneurship to thrive. It is therefore a fundamental source of employment and economic growth, and a major contributor in addressing two critical challenges of our time: providing liveable and functioning cities for a growing urban population and reducing the environmental footprint of the built environment.
The efficiency of the process through which the African real estate industry invests, develops, supports, and maintains the built environment, and services its clients, is of crucial importance to policy makers. Although there are many factors that influence the well-being of the citizens and the African economy, a performing real estate sector provides the basic platform for all these other factors to deliver their full potential, and for the Afriacn economy to thrive and remain competitive.
With an urbanized population amounting to over 400 million, constituting 40% of the continent's total population, and average household size of 5.6, the continent presents lucrative opportunities for real estate investors. Rapid urbanization, increasing income levels and growing middle-class, and governments' renewed focus on the reduction of slums will drive the real estate market across most African countries.
Most employment activity in the commercial property sector is through the construction and repair of buildings. The upkeep, management and care of commercial buildings is also a sizeable activity, undertaken either directly by property owners or on their behalf by a growing number of specialist contractors. All of the above activities are an essential part of maintaining and improving the quality of the accommodation services provided to businesses. While 80% of Africa's GDP comes from urban areas Total FDI into Africa in the real estate sector increased between 2003 and 2012 alone. Real estate thus constitutes 55% of the total foreign capital invested into the continent between 2003 and 2012.
Commercial property, other than residential, encompasses shops and retail outlets, offices, warehousing and light industrial premises, as well as hotels, leisure facilities and other forms of infrastructure. New forms of commercial property are continuously emerging.
Read more articles on http://www.lamudi.com.ng/journal
