18 Jul 2018 - Mali (Bamako)

James Whitmee

I am in Bamako in Mali. I am reviewing the residential market, particularly in the areas of ACI 2000, Badalabougou, and Cite du Niger. They are all very good areas, but quite different at the same time.

ACI 2000 is the site of the old airport. When I first started coming here, twelve years ago, it was a relatively new area and the Americans had just moved their embassy there. It is now a major commercial area and along the main boulevards there are some of Bamako’s biggest office buildings. Here is a photo over part of ACI 2000 which I took today.

ACI 2000
ACI 2000

Badalabougou is the other side of the river and on the “new airport” side of the city. It is an older area with some of the smaller embassies being located here. It is good for restaurants and shopping.

Cite du Niger was also relatively new when I first visited, but they are now up to the third phase of development (which is more high-rise than earlier phases with buildings on up to around eight floors). It is essentially an island in the River Niger. It is a quiet, safe area but not a lot of restaurants nor things to do generally.

Here is a photo that I took from Cite du Niger III across the water and facing back towards Bamako’s city centre.

Bamako 1
From Cite du Niger III

There has been a huge amount of real estate development in Bamako over the past decade and the city has been growing significantly and market conditions are buoyant. The hotels seem quite full, and there is good interest in the market.

In the residential market a 5-bed unfurnished villa leases for around CFA 1,200,000 /month. An unfurnished 2-bed apartment is from CFA 700,000 /month and for a 3-bed apartment from CFA 900,000 /month. The apartment market is much smaller than the villa market, and in general landlords seem to offer properties on a furnished basis which adds to the base cost by around 25-30%.

Here is a photo I took today of the HQ of the regional bank, BCEAO, in Quartier du Fleuve. It is still Bamako’s most impressive building, being gothic in style but constructed around 25 years ago.

BCEAO Tower
Tour BCEAO

Tags: Mali