Despite massive interest in Africa from the global real estate industry, little is being done proactively to market the continent abroad.
South Africa's adoption of the new real estate investment trust (REIT) structure means even better prospects for foreign investment thanks to transparency and efficiency in the local market, but South Africa remains massively under represented on the global stage.
According to Tony Galetti, co-founder of Galetti Commercial & Industrial, changing to the REIT structure will really align the local market with international markets, which will hopefully set a precedent for Africa as a whole by providing a working template as the various countries grow their own listed property sectors.
"We believe that growth in the continental African market is going to enter a continued upward growth curve for the foreseeable future and as South Africa leads the continent with the introduction of REIT so, too, will the rest of Africa over time." - via BizCommunity
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