November 2013
CONSTRUCTION WORLD
2
MANY (IF NOT ALL)
property development and construction compa-
nies will agree that Africa poses immense challenges when conducting
business.These challenges are on every level: governance, politics, land
ownership, language, cultural diversity, logistics, etc.
Despite the challenges, one of the areas with great opportunity is
Africa’s property investor and development sector (which of course
leads to increased possibilities for especially South African construc-
tion companies).
This is due to the fact that investors are increasingly looking at
emerging markets for opportunity because the Asia-Pacific and Euro-
peanmarkets are fast maturing and levels of returns on investment are
diminishing.The fact that – apart fromSouth Africa – fewAfrican coun-
tries have high-quality property assets, increases Africa’s attractiveness.
There is a focus on Nigeria (by the JSE listed Resilient Property
Income Fund) in partnership with Standard Bank and Shoprite, while
Atterbury Africa is investing and developing across the continent.
Another hotspot is Ghana – particularly Accra – where multi-billion
rand projects are under way. Zambia and Kenya are seeing their first
generation modern retail and western-style shopping centres.
In South Africa
In 2000 South Africa had a mere 240 shopping centres. Today there
aremore than 1 500.The acquired shopping centre building expertise
has been used in other countries in Africa and as such it can be said
that South African developers and contractors have led the way in
the march north. The same can be said about South African retailers –
Shoprite, MTN, Game,Woolworths and Pick n Pay have become anchor
tenants across sub-Saharan Africa, often the reason for a shopping
centre’s existence.
The one thing those contractors that ventured across our borders
possess, is acquired knowledge of the complex African context inwhich
new shopping centres will be built and operate. For a while, at least,
this will make South African construction companies the first choice
when it comes to building Africa’s big shopping centres.
Update
This year
Construction World’s
Best Projects received 61 entries across
its seven categories. The winners will be announced during a cocktail
function on 29 October in Johannesburg. Read all about the winners
and entries in our special Best Projects issue in December.
WILHELM DU PLESSIS
EDITOR
ontinental shopping
When West Hills Mall opens in Ghana’s capital Accra, it will become the
largest single-phase modern shopping centre in the city. Construction
has begun, with WBHO Ghana appointed as main contractor.
