2008 Archive

 Here are examples of the market snapshots we produce – one for each quarter during the year.

2008 Files

Here are examples of the market snapshots we produce – one for each quarter during the year

2008 Q1 - Kigali Rwanda General

An overview of the real estate market in Kigali - Rwanda. Q1 2008

The city of Kigali is located over several hills often with steep gradients. The prime residential locations are just south of the Central Business District, where a number of the embassies and the Hotel Rwanda are situated. Another important district is to the north of the Boulevard de l'Umaganda where most of the ministries are located along with the US Embassy.

There is a very restricted supply of Grade A to B+ office space in Kigali. Some corporate businesses have created high specification offices in stand-alone buildings.

One of the features of this market which is unusual for Africa, particularly given proximity to the equator, is that it is rare to find air-conditioning, because of Kigali's temperate climate.

The industrial park is to the south of the main route between the Central Business District and the airport. It comprises dated, often dilapidated, warehousing stock with low eaves and. Coca-Cola and Crown Paints are big local industrial employers.

2008 Q2 - Freetown Sierra Leone General.

An overview of the real estate market in Freetown - Sierra Leone. Q2 2008

In general the best residential districts are to the west and south of the city. To the west there is the upmarket and touristic area of Aberdeen and Lumley beach. To the south there are the hills, views and a slightly cooler environment and a less frenetic pace of life.

In particular to the south there is an ex-pat focus on the area around Spur Road and Hill Station. There is a reasonable level of development activity.

In terms of supply, generally the majority of the available stock is not up to international standards aesthetically nor in terms of specification and finish.

The Central Business District in Freetown is located close to Tower Hill and particularly on roads suchas Boston Street, Stevens Street and Independence Avenue. This is the banking area, including such regional and global operators as UBA, Ecobank and Standard Chartered. Government properties tend to be in a more elevated position on Tower Hill.

Owner-occupation is a feature of this market and it has not yet developed to the extent that there are large, good quality office buildings available for commercial leasing.

Manufacturing consists mainly of the processing of raw materials and of light manufacturing for the domestic market. One of the largest enterprises is Star Breweries, which produce one of the most popular beers in West Africa.

Most of the industrial activity is to the east of the city where the port is located, and the lower-grade housing stock – in particular areas such as Cline Town and Kissy.

2008 Q3 - Colombo Sri Lanka General

An overview of the real estate market in Colombo - Sri Lanka. Q3 2008

There was an explosion of upmarket apartment block development in Colombo post-Tsunami, fuelled by an influx of foreign money and an emerging residential investment market. The resurgence of the civil war and unrest brought a halt to development market and weakened the residential market.

While there are offices located throughout Colombo, in terms of central locations there is a focus on Fort, Union Place and Galle Road/Duplication Road.

Outside of the city centre there are various other clusters particularly along the Beseline Road – the location of Colombo's first Business Park, Orion IT Park, and at Battaramulla which is the location of the country's Parliament.

Almost all industrial activity in Colombo has been removed from the city and is focused around the Port, Airport and in satellite locations such as Biyagama.

2008 Q4 - Tripoli Libya General

An overview of the real estate market in Tripoli - Libya. Q4 2008 (prior to Civil War).

The best residential ex-pat areas are located to the east of the city centre (eg Bin Ashour, Noufleen), and to the west of Tripoli in Gargaresh, Alsirraj and Janzour. There are new upmarket residential areas developing along the Airport Road.

The market is relatively balanced in terms of supply and demand, demand being not just for residential use but also for offices. However, we have noticed that landlords are now asking for much larger upfront rental payments of between one and two years.

In general international businesses choose to locate in Tripoli's main office towers just to the west of the Medina, and also in converted villa buildings in the central upmarket residential area, and around Gargaresh Road. Many Libyan businesses are located to the south of Green Square and the roads that radiate from it.

The best industrial locations are out towards the airport and along the airport road. Other areas of activity are out to the east of the city towards Tajora, and to the west at Alsirraj and Gorgi.