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Profica embraces opportunities in East Africa
East Africa presents interesting business and investment opportunities, and Profica is well-positioned to support companies with their regional development strategies. The recently published Hotel Valuation Index by HVS reports that 5 of the top 7 locations are based in East Africa.
While Ethiopia continues its strong growth in infrastructure investment, investor confidence in Kenya still remains upbeat despite the recent disputed presidential elections. In this environment, Profica East Africa’s demonstrable expertise in property and construction management positions them as a strong support for developers and investors in the region.
Thierry Giannone, Group Director for Profica East Africa, says “Profica continues to experience strong interest in the region by multinationals looking to increase their presence. Profica will soon be undertaking turnkey office fit outs for 3 such multinationals in Nairobi in the coming months. The hospitality sector is also still upbeat as international brands look to cement their positions in the east African hub of Nairobi."
Profica’s involvement in this sector involves technical due diligence for a new landmark hotel development in Nairobi, a client’s representative role for a debt funder in Ethiopia, the close out of new hotel project in Nairobi and the construction of a new boutique hotel in Kampala, Uganda, currently underway as well as other new pipeline projects in the hospitality, retail and mixed use sector.
In Tanzania, we continue to experience growing interest in the region. A packing warehouse located north of Dar Es Salaam, managed by Simon Taylor at Profica’s Tanzania office, is expected to break ground middle of 2018. In Uganda, the Latitude Zero hotel, managed by Deo Rubongoya, is currently under construction with a completion expected towards the end of 2018. In Rwanda, the team, overseen by Thierry Giannone is currently designing a new hotel project in Kigali.
Profica believe that their competitive edge has been made possible by continued presence in the region despite economic challenges, backed up by understanding our client’s needs and tailoring a solution that meets their requirements.