Nairobi has ranked 10th in JLL’s fourth annual City Momentum Index (CMI) of the world’s most dynamic cities. It is the only metropolitan in Africa to be listed in the Global Top 30 of the world’s fastest-changing cities.
A two-speed cycle appears to have evolved in emerging economies with some racing ahead and others lagging behind.
While tangible improvements in transparency are being made, Sub-Saharan Africa is still some distance from competing equally with its counterparts in the EMEA region and sizeable efforts are required to close the gap with other global regions, according to JLL and LaSalle Investment Management’s 2016 Global Real Estate Transparency Index (GRETI) Sub-Saharan Africa focus.
South African investors and developers looking at investing in Africa need to partner with locals and be involved for the longer term as returns might not be attractive initially, according to Fergus Mackintosh, head of real estate for Africa at Standard Bank.