In my previous article published in March, I gave you a general overview of luxury real estate market in Western Africa with a focus on Nigeria and Ghana. Today let us talk about some major projects initiated in Senegal and Côte d’Ivoire. Senegal: A new wind is blowing for the luxurious real estate market With the era of new infrastructures initiated during the last 10 years, the Senegalese luxurious real estate market is also rising. The capital, Dakar gathers the most important luxurious real estate projects. The town is well-known as one of the West African cities where the real estate is very expensive. Over the recent years, huge projects in terms of real estate are flourishing. The most famous among them, Waterfront is developed by Teyliom Group. (more…)
With a total market of approximately 80 million consumers, the West African market is attracting more and more investments every day. According to the IMF, annual growth rate will be around 6 percent for sub-Saharan countries, while for McKinsey, overall African GDP will reach 2600 billion dollars in the next decade. The European crisis led to a new economic scheme on the African continent, illustrated by more inter-African cooperation acts. This is the case with Morocco, which has become the second largest African investor in the continent, behind the leading South Africa. Morocco reached this rank by the important presence of its big companies such as Maroc Telecom, OCP, ONE or Managem; but mainly because of the presence of its three big banks: Attijariwafa, BMCE and Banque Populaire. (more…)