African property finds fans in growth-hungry investors
Real estate elsewhere in Africa is back in vogue with investors who battle to find growth in SA. Bronwyn Corbett, CEO of the largest Africa-focused property company, Grit Real Estate, says more investors are sending teams to other African countries to seek deals. "The SA environment is problematic at the moment. "Growth prospects are poor and landlords and fund managers are trying to find somewhere to put their money that is attractive," she said.
Corbett, who listed Grit Real Estate as the first pan-African fund on the JSE in 2014, spoke at the Africa Property Investment Summit and Expo in Sandton on Thursday and Friday last week. "The SA property market itself is highly saturated for investors and fund managers, so there is interest in Africa again. "An example is Growthpoint Investec African Properties, a joint venture between Growthpoint Properties and Investec, which recently raised more than $200m for investments in Africa," she said. Grit now owns a $700m property portf...
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