The launch of the Momentum Africa Real Estate Fund (MAREF) is in response to client demand to capitalise on Africa’s growing need for quality retail, office and industrial real estate. This demand is driven by strong GDP growth and a fast growing population which is rapidly gaining increased spending power, migrating to urban areas.
Eris is a fund advisor to the $ 250 Million MAREF Fund. Eris believes that investing in the development of commercial real estate is an exciting way for investors to support and participate in the rise of the African consumer.
MAREF is aimed at long-term institutional investors as a capital growth offering. Our approach is to identify partners in sub-Saharan Africa to assist us and participate economically in projects wherever possible, and we are seeking to expand our partner base.
MAREF’s focus is on five countries in the main that have shown consistent economic growth in excess of 5% for the past years. These are Mozambique, Zambia, Kenya, Nigeria and Ghana. Rwanda, Tanzania and Mauritius have also been listed as potential investment destinations.
Key statistics relating to Africa’s growth:
|•||In 2012, nine of the 20 fastest growing economies were situated in Africa|
|•||Over the next 20 years Africa is expected to be the world's fastest growing region|
|•||Over the next 40 years Africa’s population is set to double from 1 billion to 2 billion|
|•||By 2032 Africa will have a larger worker population than China and, by 2036 a larger worker population than India|
|•||By 2030 Africa’s GDP buying power is expected to equal the EU|
|Investment Manager||Momentum Africa Investment Management Limited|
|Investment Advisors||Eris Property Group (South Africa), Momentum Global Investment Management (London) & Momentum Africa Investments LLC (New York)
|Performance Target||18 - 20% net IRR in USD|
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