In a time paramount to economic growth for Africa’s future, global leaders gather in Cape Town, South Africa for the annual World Economic Forum on Africa. JLL (NYSE:JLL), the only commercial real estate firm serving as a Supporting Partner to the meeting, is represented by three delegates in Cape Town: Colin Dyer, President and CEO; Anthony Lewis, Director, Capital Markets, JLL Sub-Saharan Africa; and Xander Nijnens, Senior Vice President of Hotels & Hospitality Group, JLL Sub-Saharan Africa.
The meeting, themed “Then and Now: Reimagining Africa’s Future,” focuses on the last 25 years of change in Africa, primarily to the remarkable economic turnaround, social issues and change, growth opportunities, sustainable development and overall competitiveness. JLL’s delegation will contribute both local and global insight to the fellow attendees in sessions related to infrastructure, trade, investment and geopolitics. Dyer will join speaker on a panel addressing gender issues and economic equality in Africa and around the world.
“Africa presents huge opportunities – and major challenges – for JLL and our clients,” says Dyer. “We currently have offices in Johannesburg, Lagos, Casablanca and Cairo, and our strategy for Africa is to continue to grow our presence dramatically. The challenges lie in doing this effectively, in ways that serve both the best interests of African countries and markets, and those of the clients we serve. During our time in Cape Town, we will investigate and share ideas about safe, ethical and profitable ways to contribute to future growth throughout the region.”
Prompting growth and interest to invest in Africa has been increasing real estate transparency. Findings from JLL’s recent Transparency Survey revealed that Sub-Saharan Africa made the world’s strongest progress in real estate transparency, and North African countries witnessed selective improvements.
JLL identified the key drivers of transparency improvement as:
- Growing presence of corporations, investors and real estate advisors, which have encouraged of market tracking and performance measurement.
- Launching the first direct real estate performance index (outside South Africa) in Botswana.
- Increasing quality of, and ease of access to, land registry information.
- Passing of REITs legislation in Kenya and South Africa.
- Improvement in enforceability of contracts and professional standards of agents. The work of the Lagos State Real Estate
- Transaction Department illustrates a process of better regulation in the sector.