May 25 - COVID-19 in Africa

COVID 19

 

Over the past month, in our collaboration with Knight Frank we analysed government measures adopted by different countries towards mitigating the impact of the COVID-19 pandemic across the various regions of Africa through our regional blog series. We also highlighted the impact of these measures on the real estate sectors in the different regions.

You can find our COVID-19 blog series below:

 

COVID-19 in Africa: Focus on East Africa

Within Sub-Saharan Africa, GDP growth rates of East African countries have been particularly strong over recent times. However, the onset of the COVID-19 pandemic poses an unprecedented health and in turn economic crisis for all countries across this region.

 

To know more

 

 

COVID-19 in Africa: Focus on West Africa

As a commodity driven region, West Africa’s economies have remained susceptible to external shocks in the past.  Declines in migrant remittances, commodities export earnings and weakening currencies have left countries such as Nigeria staring at their deepest recession since its financial crisis in the early 1980s.

 

To know more

 

 

COVID-19 in Africa: Focus on North Africa

Within Africa, North African countries have recorded the highest numbers of COVID-19 cases. While economic outlook in the region has previously been clouded by political uncertainty, the impact of COVID-19 on individual economies is expected to vary depending on which sectors are prevalent in each economy.

 

To know more

 

 

COVID-19 in Africa: Focus on Southern Africa

With robust mining and manufacturing sectors, Southern African countries are considered the most industrialised in Sub-Saharan Africa. Therefore, the impact on regional economies as a result of COVID-19 has varied depending on the prevalent sectors in each economy.

 

To know more

 

 

We do hope you find this useful and insightful.

If EMC Real Estate and Knight Frank Africa can help in any way, do not hesitate to contact us.

 

Tilda Mwai                                                              Arturo Pavani

Researcher for Africa, Knight Frank                      Head of Research, Knight Frank-EMC

                           

26 Mar 2020 – Malta

Charles Whitmee

 

The office market has changed little over the past 12 months and, due to Covid-19, it is difficult to predict where it will be in 12 months’ time.

 

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02 Mar 2020 – Hungary (Budapest)

Charles Whitmee

Last week I was in the richly historical Budapest, a city formed after the settlements of Buda and Pest were united in 1873- an apparently well-known fact which had, nevertheless, alluded me until recently. Although somewhat wet and windy, there is no denying the grand beauty of Budapest. I have personally never visited a place with so much incredible architecture. Even when walking down the quietest of suburban streets, amongst the soviet-era apartment buildings, I often came across the most stunningly ornate baroque-style villas.   

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22 Sep 2019 - CAR (Bangui)

James Whitmee

I am in Bangui in Central African Republic looking at the real estate market.

The city has an attractive setting with wooded hills to the east and to the south (Democratic Republic of Congo across the Oubangui River).

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29 Aug 2019 - Jamaica (Kingston)

James Whitmee

I am in Kingston, Jamaica, looking at the real estate market, mostly in New Kingston.

The office market has been flat in terms of growth for 5+ years at USD 12 /sq ft /year, although there has been little new development and there is a perception that USD 15 could be achieved if there was good, new space available. Most of the recent activity relates to call centres.

There is an office investment market, but there is no real international interest and it is local, mostly Jamaican pension funds, yields being around 10%. Neighbourhood commercial in strata title sells for USD 200-250 /sq ft.

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17 Jun 2019 - Malawi (Lilongwe)

James Whitmee

i am in Lilongwe in Makawi, looking at the office market.

I have based myself in City Centre which is the location of all of the principal institutions and embassies in the city. Just adjacent and to the north of this area there is Capital Hill (a Government reserved area), Parliament, Bingu International Conference Centre, and the Peermont and Sunbird Capital hotels.

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15 May 2019 - Senegal (Diamniadio)

Charles Whitmee

I am in Senegal looking at the office market in Dakar, although I have also had an opportunity to look more closely at Diamniadio.

Until recently Diamniadio was a relatively small and unremarkable town with a population of just 12,000. However, under the leadership of President MackySallDiamniadio has become the focus of a plan to revitalise the Senegalese economy and ease the population pressure on Dakar. The development of the new city is taking place around 30 km from Dakar, close to the Blaise Diagne International Airport, which opened in December 2017.

I have been driving around the area today, and it is currently largely characterised by empty, unused land and is sparsely populated. However, dotted around this zone there are some significant new developments, including the Dakar Arena, Sphere Ministeriellebuilding, Centre des Conférences de Diamniadio and the Radisson Blu. 

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12 Sep 2019 - Mauritania (Nouakchott)

James Whitmee

I am in Nouakchott in Mauritania.

Whilst there is still a lot of speculation and trading of land, the pace of development continues to accelerate, and the Berad roundabout, which used to feel a considerable distance from the city centre, now almost feels like part of Nouakchott.

It is only beyond this point to the north that large sites still exist, and this is the obvious expansion corridor for the capital, being out towards the airport, secure and with a new road to be constructed linking through along the coast to the maritime port in the south.

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18 Jul 2019 - Senegal (Cap Skirring)

James Whitmee

I have been working this week in Casamance which is the southern region of Senegal, south of Gambia and towards the border with Guinea Bissau.This area is mostly a massive expanse of mangrove wetlands.

Although my destination was Cap Skirring I flew to Ziguinchor (capital of Casamance) from Dakar because the airport at Cap Skirting is closed at this time of year - it is the rainy season and tourists are not coming here now.

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19 May 2019 – Senegal (Dakar)

Charles Whitmee

This week I have been in Dakar, looking at the office market. After a successful week, I am in the lobby of the Yaas Hotel in Les Almadies, waiting for my lift to the new Blaise Diagne International Airport. The airport is a drastic improvement from the former Léopold Sédar Senghor International Airport and a symbol of the promising future of Senegal.


Dakar is a relatively small office market in terms of international corporate demand, and as a result, most of the office supply is constructed to a local standard and would fail most international corporates’ Health & Safety standards.

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02 Sep 2019 - Montserrat (Brades)

James Whitmee

I am in Montserrat looking at the real estate market.

The property market is depressed, and residential house prices have been falling. Villas can be on the market for years, and asking prices are often slashed as they fail to sell.

There is a relatively buoyant Airbnb market. In the longer-term leasing market, a two bed villa is around USD 2,500 per-month, and a three bed around USD 3,500 per month. 

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10 Jul 2019 - Chad (N'djamena)

James Whitmee

I am in N’djamena in Chad, looking at the market for villas and apartments.

I am staying at La Residence which is a good hotel which you can literally walk to from the airport terminal as it is about 300 metres distant. From here it is a 5-minute walk to the top end of Avenue Charles de Gaulle, which is N’djamena’s banking district. Therefore, this central part of the city is all quite compact and accessible.

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25 May 2019 – Greece (Athens)

Charles Whitmee

Last week I was in the beautiful, historic city of Athens looking at the residential property market. Towards the end of the week, I was fortunate enough to have time to make the trip up to the Acropolis. Looking out at the Aegean Sea from the shadow of the Parthenon, I afforded myself a moment to recall some of my favourite ancient Greek myths and legends. Not least, Theseus tragically returning from Crete in his black-sailed ship.

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