Property Developers in Africa: Examples of Development Expertise
Africa’s urban population is expected to nearly triple by 2050, to 1.34 billion. Coupled with a high rate of urban primacy in African countries (whereby one city is multiple times bigger than the next nearest) and the high number of mega cities, enormous stress is going to be placed on the physical, political, economic and societal infrastructure in these places.
Young people across the continent are increasingly migrating towards the modern technology, connectivity, and entrepreneurial opportunity of city life. This offers property developers on the African continent a largely untapped market for premium corporate accommodation, modern healthcare and educational facilities, data centres, logistics and warehouse parks and quality retail shopping centres.
Since its founding at the beginning of 2018, GREA Africa has been involved in a range of developments across various countries on the continent, including:
What sets GREA apart is the combined expertise offered, provision of turn-key construction solutions to multinational corporates and retailers and direct real estate exposure to high-yielding US-dollar denominated rental income streams with excellent ROI and strong growth potential for investors.
As an Africa-focused real estate developer, GREA is domiciled in Mauritius and holds a Category 1 Global Business Licence in that country. In addition to being focussed on the provision of customised solutions for investors and international firms wanting to expand their real estate footprint on the continent (with the exclusion of South Africa), GREA also invests and holds real estate assets. Development and investment include several real estate asset classes, including:
- Data centres
- Industrial, warehouse and logistics
- Specialist corporate accommodation
Some of the current projects in which the firm is involved, or those that have been completed, are briefly noted below in support of the claim to expertise and experience in bespoke development solutions.
Africa Data Centres 5MW data centre in Lagos – Nigeria
African Data Centres (ADC) commissioned GREA to construct the first phase of a 5 MW data centre (Tier III) in Eko Atlantic City. The completion date for the first phase is October 2021. Once completed, the 1,1 MW data centre will house offices for the operation of the data centre facility and two Modular Data Halls. The completed project will include parking space, drop-off zones, stores, ablutions, reception and security areas, and meeting facilities on its ground floor with the modular units to be located on both the ground and first floor levels.
To ensure backup power supply is in place, the roof will house generators in addition to the aircon condenser equipment for servicing the Modular Data Halls and Modular Units.
Apart from the mentioned areas, the facility will have external areas for circulation and loading. Once completed, the facility will have a total of 5MW IT capacity. It’s built on a site area totalling 4,946 sqm and has a GLA of 1,078 sqm.
Rosslyn Grove Diplomatic Accommodation in Nairobi, Kenya
GREA, along with Verdant Ventures are the property developers of this project that consists of a unique 90-unit diplomatic apartment complex with townhouses and facilities that range from a clubhouse and gym to a swimming pool among the many amenities.
With the increased demand for premium quality housing facilities for diplomatic personnel in Nairobi, GREA has accepted the challenge to be the participant property developers on the project. Aevitas Group and Design Partnership have collaborated with Sutherland Engineers in the design of the impressive development.
In line with sustainable construction trends, GREA has sourced materials locally for the project where possible and have imported those items not readily available locally. The USA State Department Bureau of Overseas Building Operations will be one of the core anchor tenants. Read more about the Rosslyn Grove project here.
These projects are only two of the many successful projects in which GREA is involved. For a comprehensive overview of the development expertise offered, visit the Projects section. Investors and multinational firms, wanting to commission work or wanting to partner with experienced property developers in Africa, are invited to get in touch with GREA.