By Standard Reporter
East Africa has one of the few markets in the world with a vibrant real estate sector that offers good opportunities for investment, said Actis, a private equity firm.
Actis East Africa Managing Director Michael Turner said there is strong demand for quality infrastructure in the region, which is in tandem with the growth of its economies that continues to attract new investors.
Turner made the comments at the GRI Forum 2013, an annual conference that brings together international investors and real estate developers from across Africa.
Speaking to a panel on East Africa real estate, he said: “The outlook for the sector is encouraging, and there are a lot of unique and attractive opportunities in this market. The low supply of housing in the region points to the potential in the sector, which can be harnessed by ensuring a conducive regulatory framework and the provision of more incentives for investors to spur further growth.”
Actis will be financing Garden City, a $250 million development set on 32 acres along Nairobi’s Thika Road. Construction is set to begin next month, with the development of a 500,000 square food retail mall.
