Targets even greater growth in industry
By Ada Anioji
Coming on the heels of its recently conducted elections which saw the Edgar Lungu-government re-elected and sworn-in for a second term in office, Zambia is moving to host a GDP-boosting real estate summit, The Difference has learnt.
Considered as one of the most accessible and investor-friendly countries in which to conduct real estate business in Sub-Saharan Africa, the copper-producing nation, which already boasts a considerable number of foreign and Pan-African investors who have developed and invested in various large-scale projects across Zambia, hopes to secure even more mileage from the event.
The ZamReal Property Forum is being held on September 28th at the Radisson Blu, Lusaka and will bring together local and regional property stakeholders to discuss these rising sectors in the most beneficial forum to date. Key topics and sectors to be covered will include the business of real estate in Zambia, Retail Opportunities, logistics, housing, infrastructure as as well as discussions surrounding the growing commercial office sector.
Sources say that despite the commodity slump and uncertainty surrounding the recently held elections, there has been substantial growth in real estate investment from both local and regional investors. Says Kfir Rusin, General Manager, API Events: ‘We have seen numerous transactions over the last 12 months with companies such as Mara Delta, SA Corporate, Quantum Global, African Life, FQML and Primetime growing their portfolios in Zambia .’
Indeed, one sector that has received special attention is the retail sector, with Zambia having one of the highest formal retail penetration rates in Africa. Remarks Victor Sodala, CEO, Pylos Zambia: ‘Retail development in Zambia will continue to flourish but i think it will evolve and that opportunities will be in secondary cities and smaller nodes around Lusaka. Local investors especially institutional investors are also playing a key role in development and acquisitions.’
On the special factors that have helped grow the market this far and which investors can further depend upon, Mpangwe Mutwale, Commercial Property Finance Specialist, First National Bank, Zambia, posits that: ‘the country’s liberalised economy and well developed legal framework set Zambia apart from its neighbours. The holding of this forum in Zambia goes to underscore its attractiveness an investment destination of choice in sub-Saharan Africa. The forum will be an excellent opportunity for investors to have a first experience of the Zambian retail market and for the country to market itself and attract foreign direct investment into the sector.’
ZamReal will be a one-day forum featuring both local and regional industry leading speakers and participation from the following real estate focused companies: Heriot Properties, Pylos, Aflife, Knight Frank, Pam Golding, FNB Zambia, JLL, Sishima Holdings Limited, Liege, Novare, Jumia, FNC Legal, Profica, JHI, Thebe Investments, FQML, Mara Delta, Madison, Afritecam, Phatisa, Union Gold among others