Our pick of headlines this week impacting commercial real estate in sub-Saharan Africa and the broader emerging markets.
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Headlines:
🎦 Watch: Africa’s Largest Oil Refinery Could Upend $17 Billion Gasoline Trade Between Europe and Nigeria
Nearly Half of the Federal Government’s Office Space Could be Converted to Housing, Expert Firm Says
🎦 China’s 20,000 Resident Property is World’s Largest Residential Building
Africa
📰 Mark Mobius Says Moroccan Property Company Douja Promotion Groupe Addoha is a Buy
It's rare for Mark Mobius to recommend real estate, making his interest in Douja Promotion Groupe Addoha notable. The firm has a strong market position, holding 16% of Morocco's market share. It delivered over..… Read More
📰 Copper’s Spike Isn’t Justified By Fundamentals, Trafigura Says
Copper’s recent surge to a record wasn’t justified by real-world supply and demand, according to Trafigura Group — the top copper trader and usually one of the market’s most bullish voices....… Read More
🎦 Watch: Africa’s Largest Oil Refinery Could Upend $17 Billion Gasoline Trade Between Europe and Nigeria
📰 Asset Managers Assess Africa's Best Investments
Investing in Africa is the easy bit, say some leading investment managers. Getting your money back is the problem. Lack of liquidity, rather than too few investment opportunities, is the reason for meager capital flows..… Read More
📰 Novare Eyes Angola’s Increasingly Attractive Investment Environment
Novare, a South African-based provider of investment solutions to institutional investors across Africa, has announced plans to expand its Nigerian business into the Angolan market..… Read More
Global
📰 NYC Landlord to Sell Manhattan Office at Roughly 67% Discount
Empire Capital Holdings and Namdar Realty Group agreed to purchase the property at 321 W. 44th St. for less than $50 million, roughly 67% discount from the nearly $153 million paid in 2018..… Read More
📰 There Never Was a Friend-Shoring FDI Boom in Mexico [x: @robin_j_brooks]
The bulk of FDI is reinvested earnings, i.e. by companies already in Mexico, while genuine new FDI (blue) is down to record lows. The Mexico friend-shoring narrative is over. Lots more Peso weakness to come...… Read More
📰 The World’s Largest Shopping Mall is About to Get Even Bigger
United Arab Emirates’ Emaar Properties announced Monday plans for a 1.5 billion dirham ($408 million) expansion of Dubai Mall. The expansion will add a further 240 luxury stores, along with new food outlets..… Read More
📰 Nearly Half of the Canadian Federal Government’s Office Space Could be Converted to Housing, Expert Firm Says
A lot of the space the federal government owns and leases is in buildings constructed in the 1960s and 1970s and those generally have smaller floor plates – the breadth of the building – and access to natural light, two critical features that help make an office-to-residential conversion possible..… Read More
📰 TJX Cos. to Expand into Mexico Through Joint Venture
The off-price giant has entered into a joint venture with Grupo Axo, S.A.P.I. de C.V., an operator of global brands in Mexico and South America that includes both full- and off-price formats, to expand in Mexico. Under the terms of the agreement, TJX would own 49% and Axo would own 51%..… Read More
📰 Blackstone Marketing Singapore Worker Housing Portfolio
The private equity giant has appointed Barclays to market the Avery Lodge portfolio, a set of four purpose-built worker compounds spanning 1,709 units, according to sources who spoke with Mingtiandi this past week..… Read More
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