From Rusana Philander in Cape Town, TZ Business News.
The city of Dar es Salaam in Tanzania hits the African real estate’s market in Cape Town, South Africa, in November 2016, with Kigamboni satellite city as the product to sell, according to Mr Jean-Pierre Elong Mbassi, Secretary General of the United Cities and Local Governments of Africa (UCLG).
A real estate’s summit is planned to take place in Cape Town on 2 and 3 November, 2016 where Kigali, Lusaka and Dar es Salaam will be talking about their future land and development plans Mr Jean-Pierre Elong Mbassi said, adding that his organization passionately believes that Africa is a continent of opportunity.
“With improving economies, rising populations, rapid rates of urbanisation and burgeoning middle classes, some African cities are expected to grow between 70-100% in the next 15 years,” he said.
Mbassi added that they hope that the summit will help African cities and local governments highlight the need for quality commercial and residential real estate that the estimated growth will create. The World Bank says Africans living in urban areas is projected to grow from 36 per cent in 2010 to 50 per cent by 2030.
It is believed by the World Bank that the continent’s urbanization rate, the highest in the world, will lead to economic growth, transformation, and poverty reduction, although it may also lead to increased inequality, urban poverty, and the proliferation of slums.
But appropriate laws, policies, and actions will be needed to reap positive dividends from Africa’s urbanization, the bank says.
The Secretary General of the United Cities and Local Governments of Africa described the Cape Town conference in November as a platform set to generate the partnerships and investments from investor groups, developers and operators to deliver on this worthwhile opportunity.
The summit will provide an invaluable opportunity for investors, developers, landowners and the cities, he said. Some of the development opportunities to be showcased are in Lusaka, Kigali and the Kigamboni satellite city in Dar es Salaam, Tanzania.
The city of Dar es Salaam will showcase the Kigamboni New City Master Plan, including residential, commercial, trade and business, industrial, educational, and tourism facilities.
The City of Lusaka will market be marketing its vision of an ECHO Garden City where it wants to provide a world class and competitive business and living environment by the year 2030.
Lusaka will showcase the following urban developments and infrastructure projects: the Chibolya Urban Renewal, the Grade Separation Junction improvement and the Dual Central Business District Development, Industrial Parks Development.
The Rwandan capital of Kigali says its vision is to become: ‘The Centre of Urban Excellence in Africa’ and will be showcasing: Nyarugenge: ‘‘The Green Financial Hub and vibrant Growth Centre of Kigali”, Gasabo: ‘‘Diverse Employment Hub and Cultural Heartland of Kigali” and Kicukiro: ‘‘Knowledge Hub and Green Gateway of Kigali”