Reshaping The Future Of Real Estate For African Cities




Image result for real estate africa

Researchers predict that in 2030, Lagos, Cairo and Kinshasa will each have to cater for over 20 million people, while Luanda, Dar es Salaam and Johannesburg will have crossed the 10 million mark. By 2035, close to 30 million people could live in Lagos alone, turning Nigeria’s commercial hub into the largest megacity on the continent.

While Africa’s cities are growing rapidly in population, they are developing informally as current urban planning has proven to be ineffective, and private development is often deterred by opaque or inappropriate regulations.


When it comes to investments in infrastructure, industrial and commercial structures, and affordable formal housing, African cities have, until now, failed to keep pace with the concentration of people.

In Dar es Salaam, 28% of residents live at least three to a room; in Abidjan, that number rises to 50%; And in Lagos, Nigeria, two out of three people dwell in slums.


The World Bank’s African Cities report has also found that in cities like Antananarivo, Madagascar; Brazzaville, the Republic of the Congo; and Harare, Zimbabwe, non-contiguous built-up areas are scattered throughout the centre, with more than 30% of land within 5 kilometres of the city centre still left unbuilt.

In Ghana, buying land has often proved difficult when people often try and sell land that may not even be theirs. Others even end up building on land thinking they own it; only to find out when they need a loan that the land is not theirs.

Tackling the problem with land registration, Benben is a digital land registry and transaction system that was designed to solve a number of the inefficiencies in land administration currently experienced in Ghana, aiming to promote investment and encourage transparent property management in the region in future.

“With the inevitable population growth, African cities have an exciting opportunity to embrace technology to leapfrog ahead of the world in terms of affordable services and smart cities.

 Through adopting innovative technologies such as blockchain and AI there is the potential to uplift millions of people into prosperity and the formal economy” comments Daniel Bloch, Co-founder, BenBen

Springing African cities from this low development trap, how else can governments and institutions begin to properly address Africa’s need for better urban infrastructure and affordable housing?

Are developers involved in real estate development in Africa looking at the right solutions, using architectural and planning approaches that are more than just mere carbon copies of cities elsewhere in the world?

“The problem of rapid urbanisation is a wicked problem that requires developers and their professional teams to think more systemically.

We still find too many examples of Western products, systems and technology been implemented in Africa that is not appropriate for our conditions. We need to ensure that whatever we implement has an Afrikan lens applied to it.

We need to have empathy and place our people at the centre of everything we do. We call this Afrikan design innovation.” Abbas Jamie, Director Innovation and Transformation Aurecon Africa

Over the next 20 years, the rapid growth of Africa’s urban populations is expected to thrust new demand for infrastructure, housing and other physical structures, and amenities. To meet this new demand, city leaders and planners need adaptable strategies.

Future Cities Africa sub-conference will look at how African governments and institutions can help formalize land markets, clarify property rights, and better leverage off land values to finance Africa’s urban development.

“As Africa faces a new reality, we must accept that the continent cannot move forward without proper discussions around the planning, infrastructure and urban development requirements of African cities in order for them to thrive and grow.

Africa Governments  should look into how African Cities can better open its doors to the world while creating more economically dense and inclusive urban areas.

“In order for African cities to bridge the economic, socio-political gaps they currently face, we need to pay special focus on how we can create sustainable, connected cities.

Without them, Africa’s growth and development will remain sluggish, and uncertain. The answers to these key issues will not only help to develop Africa’s future cities, but will ultimately have a positive influence on the growth of the real estate market for the rest of the continent.

About Binnabook

Binnabook Magazine Believes in Free Speech,Social Journalism with newsgathering and verification of Data.

10 Comments:

  1. Discover how to create cash flow, rate of return, and profitability analysis presentations in minutes Real Estate Nigeria

    ReplyDelete
  2. LLCs offer more prominent organizing adaptability and preferred loan boss insurance over restricted associations, and are for the most part liked over enterprises for holding more modest real estate properties. https://shuttlesky.in/

    ReplyDelete
  3. This article discusses why flipping real estate is not best for new real estate investors, and what method is best for new investors who want to minimize their risk and learn the ropes much faster.warehouse for rent near me

    ReplyDelete
  4. The first step is to make a mattress that is breathable and comfortable. This is an important step to ensure that you are able to get the best results for your mattress. Kenworth truck mattress

    ReplyDelete
  5. Many states have sites where you can hope to see that the real estate lawyer you are thinking about is both authorized and on favorable terms.
    RealEstateLawyerOttawa

    ReplyDelete
  6. Furthermore, to get more clients, you really want to have all the more real estate leads.
    https://districtrealty.com/

    ReplyDelete
  7. Real estate portfolios consist of a collection of properties owned by an individual or company. estate planning chandler

    ReplyDelete
  8. "Real estate can be a suitable investment option for those seeking passive income. By investing in rental properties, individuals can generate cash flow while leveraging the efforts of property managers." chandler estate planning attorney

    ReplyDelete

Your Views are needed.Thanks!

Kidnappers Must Be Treated As Terrorists — Tinubu

President Bola Tinubu has declared that individuals involved in despicable crimes such as kidnapping must be treated as terrorists. The Pres...

TRENDING News Feed