Ahead of the Africa Property Investment Summit (APIS) in South Africa, property experts on Monday said that global capital was fuelling African property markets.
An APIS statement obtained in Lagos said that in spite of Africa’s economic slowdown, property developers and private equity funds continued to pour investment into the continent.
The statement quoted Kfir Rusin, general manager of the upcoming APIS as saying that “over 1.2 billion dollars have been raised and allocated to real estate investment in Africa over the past year and we expect this trend to continue.”
The statement said that the 2016 summit would feature various discussions on innovative strategies and collaboration, as well as showcase new real estate opportunities and projects across Africa.
“The API Summit is the leading African focused real estate forum which brings together influential property players from around the continent.
“It offers developers and investors access to new development strategies- a chance to showcase projects and meet with new sources of capital across sub-Saharan Africa.
“It is the perfect opportunity to leverage off the expertise and knowledge of key industry players,’’ the statement said.
The statement explained that the effects of the currency and liquidity crises had been sharply felt across the continent but most notably in the larger oil driven commodity-exporting countries.
It explained that this had resulted in a shift towards economic diversification and countries in the East African region providing more economic stability than others.
NAN reports that the two-day conference will be held from Aug 18-19 at the Sandton Convention Centre in Johannesburg. (NAN)
