PROPERTY SPOTLIGHT – OCTOBER 2019
ZAMREAL Round Up
Last month I told you about ZAMREAL – Zambia’s leading property forum that brings together real estate thought leaders from Zambia and the region. It was an excellent conference which carried a lot of information on the Zambian property market. In our last newsletter I started sharing my top insights, if you missed out on it, you can read it here
Here are my other top insights:
1. Agriculture – There exist many opportunities in developing warehousing and storage facilities to support agricultural projects in Copperbelt, Muchinga, Eastern, Western and North Western Province. Such projects range from palm oil production, cashew plantations and fruit processing. In addition, there are opportunities in support infrastructure such as housing, social amenities, community retail centres etc as employment grows due to these large scale agro projects.
2. Tourism – this is one of Zambia’s fastest growing sectors and there are numerous opportunities available, from development of 4-5 star hotels, resorts, lodges and of course tourism support services such as training, entertainment, IT services etc.
3. Hotels/ Hospitality – it follows that since tourism is such a growing industry then hotels and hospitality has been growing too. In addition, Zambia is ranked 11th in sub Saharan Africa for conferencing. It’s no surprise then that last year saw 200 new hotel rooms added to Lusaka with this set to grow by 8 – 10% in the next few years.
4. Copperbelt – the mining hub of Zambia has enjoyed a real estate boom in the last few years, particularly in the retail and hospitality sector. However, given the volatility of the mining sector and the economy as a whole, current investment into real estate is flat. Nevertheless, factors such as population growth, improved infrastructure and upgraded transportation systems will gradually increase demand in the mid to long term.