A Private Real Estate Development Company across Continental Africa
Despite the impact of Covid-19 on economies across the world, Africa is still regarded by many as the last real opportunity for growth, with many overseas companies discovering that expanding their operations into Africa can offer them substantial benefits, given the continent’s young population, ongoing adoption of fintech and a general increase in living standards. Gateway Real Estate Africa (“GREA” or “the Company”) is a real estate development partner to large global and multinational corporations and governments looking for bespoke corporate accommodation solutions across the continent. This could range from data- and call-centre developments to commercial offices, consular and corporate housing, healthcare and educational or retail developments.
Who We Are
GREA was established in 2018 by London-listed Grit Real Estate Income Group Limited (“Grit”), a leading pan-African impact real estate company setting the Global Benchmark in Africa and focused on investing in, developing and actively managing a diversified portfolio of African impact property assets underpinned by predominantly US Dollar and Euro denominated long-term leases with high quality multi-national tenants, Dubai based venture capital firm Gateway Partners, the Public Investment Corporation, the largest sovereign wealth fund in Africa as well as Prudential in the US.
More recently, Grit acquired control of Africa Property Development Managers (“APDM”), the external asset manager for GREA and is in the process of acquiring Gateway Partners’ share in GREA. On 31 August 2022, Grit increased its interest in GREA from 26.29% to 35.01% and by 15 December 2022 would have acquired the remaining 13.61% interest in GREA and a further 1% of APDM from Gateway Partners. This will increase Grit’s direct shareholding in GREA to 48.62% and in APDM to 78.95%.
Since inception, GREA has build an enviable track record of delivery, having developed assets in seven African countries, including two private healthcare facilities currently under construction on its Indian Ocean island base. In addition, the Company has completed equally prestigious projects in Ethiopia, Ghana, Kenya, Morocco, Mozambique and Nigeria. However, the measure of a successful real estate development company is more than the number of projects it has completed. In practice, it is perhaps best defined by its declared objectives. While strenuously pursuing its corporate goals of building long-term revenue streams and achieving capital appreciation through property investment, GREA also aspires to address the needs of the communities in which it operates. The Company actively promotes community empowerment not only through its participation in social infrastructure investments in essential facilities like healthcare, but through policies giving preference to local employoment and skills development, the involvement of local professional services firms across operations, and the promotion of women in the build environment.
Naturally, meeting the needs of its clients, investors, and communities remains paramount. However, GREA has some equally important additional obligations as a responsible real estate development company. The construction industry releases around 40 million tonnes of carbon dioxide into the atmosphere annually. It also consumes half of the natural resources extracted worldwide. Accordingly, GREA is committed to applying International Environmental, Social and Governance standards throughout every project it undertakes.
Before beginning a new project, GREA conductsa in-depth environmental and community impact assessment studies. The Company further cooperates with the tenants to ensure the environmental efficiency of each asset is optimal. A good example of how GREA lives its brand values is the development of The Precinct in Mauritius, the soon-to-be new head office for Grit and GREA in Mauritius. Other key tenants include Dentons, the world’s largest law firm and flexible office provider, Workshop17. The Precinct not only offers employees an integrated work-life experience, but is the first ever five-star green rated development in Mauritius and the first five-star green rated office development in the Indian Ocean Islands region.
Is Africa set to become an economic superpower? At GREA, we believe it has the potential. If you want to be part of that transformation, please don’t hesitate to contact us for more details on investment opportunities and property rentals available through our environmentally responsible and community-minded real estate development company.