Commercial real estate development in sub-Saharan Africa is booming. Rapid urbanisation, a wealthier population and a rapidly growing middle class, re-location of businesses, and travel to Africa for business and tourism are driving demand for new and modern offices, hotels and retail malls.
Development is not uniform across the continent, but the appetite for developers and lenders is becoming broader. Development in Africa is not without its difficulties, however, and there are hurdles to be overcome when investing in, or financing, a commercial real estate development.
Ghana, Nigeria and Kenya are currently the most active jurisdictions. Development in these countries is focused primarily around the urban centres of Accra, Lagos and Nairobi - both in inner city and out-of town-developments.
Nigeria is attractive because it is West Africa's largest consumer market, with a burgeoning middle class and investor appetite. Many have predicted that it will overtake South Africa as the continent's largest economy by 2016. The Eko Atlantic development in Lagos gives an indication of the scale of development taking place, with land reclamation work under way to create a development of over 10sq km.
There is also huge potential for affordable housing.
Resurgent offers Architectural, MEP Design and Project Management services .Resurgent leadership team has experience of setting up Five Star Hotel , Swanky malls , Corporate Towers ,Luxury Habitats and Condominiums. Resurgent team has worked with world renowned architects viz Hafeez contractor and Morris Ross and top end construction companies including Shapoorji Pollanji.
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