AFRICA - Leisure Property Services€¦ · · 2013-06-18IKEJA CITY MALL USD 48.6 million Senior Debt ... which operates nearly 11,000 rooms in 37 properties in Africa, ... it’s

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Mozambique - the new hotel hotspot?

4 Asset in Africa // Preview Issue Preview Issue // Asset in Africa 5

6 Editor’s Brief The second invasion

8 Cover Story Mozambique - the new hotel hotspot

12 Leisure Latest African gold rush - Hotels

18 Africa Development Aurecon partnering with clients throughout Africa

24 Country in Focus Ghana is Africa’s 4th best economic performer of 2012

26 Africa Focus The 6th Africa Investor Summit, Cape Town, SA

28 Multimedia Africa rising

30 Get Together Africa GRI 2013, Nairobi

32 Sector in Focus BrollopensnewAfricanoffices

36 Profile & Pricing Asset in Africa rate card

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LEADING THE WAY IN REAL ESTATE FINANCE ACROSS AFRICA

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The second invasion Africa is the new frontier. The continent of promise. But is this the best thing for Africa and does she need this? Where will she be in 20 to 30 years time? Will she still be recognisable? Will she have wrinkles and look tired? Will her facelift have been worth the pain?

Africa is one of the world’s remaining virgin continents. Vast swathes of its land are as they have always been – pure and untouched. There is no point in being too sentimental. Sure, vast open plains and natural resources that skrik vir niks are nice to visit when you come from a busy, burgeoning metropolis. But when you leave, refreshed and rejuvenated, the land remains the same. It will stay the same until you or someone else thinks it will be better utilised as a leisure hub complete with a Saxon, golf course and fast-speed wifi.

What Africa wants is development. Does she need it? The answer to that question depends on which side of the hotel fence you’re standing. Africa will be colonised for a second time in her history. Not by the English or the Portuguese, or even the French. She will be invaded by the retail developer, multinational corporation and the fast-food monopoliser. This will be a better invasion. Investing in fixed infrastructure, creating brand awareness and loyalty and training the local population in the way of international business shows confidence like nothing else can. The fact is it is happening already.

Banks and developers are slowly investing south of the Sahara. It’s a growth story we as Africans can compose and direct. And maybe that is what we should do. Africa may not need traffic jams and extreme urban sprawl, but she wants development. She should get to decide what she needs, how it will look and how it will impact on her people. Let the invaders come, but make them realise that Africa will be developed on her own terms.

David SteynbergEditor

Editor’s Brief

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When Mozambique gained independence it was one of the world’s poorest countries and brutal civil war made the situation unappealing to international investors. In the last decade however, the economy has grown by on average 6-8% per annum, making it one of the fastest growing economies in the world raising significant interest in new investment opportunities in the country. By David Harper, Head of Property Services for Hotel Partners Africa

The key question across sub-Saharan Africa and Mozambique is how does the International investor ensure they are investing in the right project or area?

The major concerns for property investors are: security of ownership, security of income, level of income, cost of doing business, and ease of repatriating the money.

The fact that Mozambique has introduced a double tax treaty with South Africa, along with significant investment incentives (taxation, customs, repatriation of capital and additional protection of private property) all help make the investment landscape more appealing to private investors. Property rents have increased dramatically over the last four years with retail showing growth of 76%, residential 100% and retail 180% over the period. Radison Blu Maputo

Mozambique – the new hotel hotspot?

Cover Story


The potential for growth is strong in the right sectors and hospitality provides one of the more attractive opportunities. The WTTC estimate that Travel & Tourism income will rise by 5.6% per annum over the next ten years on top of the current substantial growth in tourist numbers (up 17.6% on the latest data) and along with the shortage of supply (W Hospitality Group report that in Mozambique there are an average of 70 bedrooms per million population, compared with 650 in South Africa or 7,000 in the UK) there is a compelling case for investing in the right hotel development in the right location.

However challenges remain: Mozambique slipped seven places in the World Bank’s annual “Doing Business Report”, and along with various property ownership issues, it is essential that potential investors get good quality advice on doing business there.

Cover Story

Southern Sun, MaputoPolana Serena Hotel

White Pearl Resort, Maputo


Major international hotel chains are increasingly rolling out thousands of new rooms in Africa’s business hotspots, keen to expand their footprint on the continent’s burgeoning economies. Source: CNN

From Lagos and Kigali to Nairobi and Johannesburg, the world’s best known hoteliers are targeting Africa’s growing urban centers to benefit from a rising number of business travelers and a huge

undersupply in available rooms.

“There’s a growing demand in those capital cities because they are the centers of business, of government and of commerce -- all of which have hospitality needs,” says Patrick Fitzgibbon, senior vice president of development for Hilton Worldwide, Europe and Africa.

“We have a very bullish feel for these markets and we are very excited about the opportunity Africa presents,” he adds. “I think that for the next 20 years we are going to have our hands full with opportunity.”

‘World woken up to Africa’

Last month, the International Monetary Fund said that sub-Saharan Africa’s economy is expected to expand by 5.6% in 2013 and 6.1% next year, outpacing the global average of 3.3% and 4% in accordance.

Andrew McLachlan, Carlson Rezidor Vice President for Africa and Indian Ocean Islands, says it is Africa’s potential to offset the sluggishness in more developed markets that’s appealing to global players.

“What has really happened is that post the economic crash in 2008/2009, the rest of the world has really woken up to Africa,” says McLachlan.“There’s been such good news coming out of Africa from a GDP growth point of view; better telecommunications; improved security; political stability; and improved airlift,” he adds. “It’s really become a sort of new scramble back into Africa.”

Latest African gold rush: Hotels

Leisure


Meanwhile, international tourism arrivals in the continent grew by 6% last year to reach a record 52 million, according to data by the World Tourism Organization.

And whilst both international and intra-regional travel are on the up, partly thanks to Africa’s natural resources boom, a shortage of rooms is prompting hoteliers to turn their attention to a continent ignored for decades.

Business travelAccording to a recent survey by Lagos-based consultancy W Hospitality Group, some 40,000 new rooms in 207 hotels are planned in the continent’s under-served cities, up almost one third compared to 2011.Hilton, which operates nearly 11,000 rooms in 37 properties in Africa, says it has some 5,200 rooms and 17 hotels in the pipeline across the continent. Carlson Rezidor, which recently opened a Radisson Blu in Port Harcourt, its eighth hotel in Nigeria and 49th in the continent, is targeting 12 new hotel deals this year. French group Accor, owner of the Novotel and Ibis brands, has some 5,000 rooms in the pipeline, according to the W Hospitality survey.

“The vast majority of those hotels are business-oriented,” explains Trevor Ward, managing director of W Hospitality. “If you look at where those hotel chains are primarily going, it’s the capital cities or the major commercial cities of Africa where the business traveler is going,” he adds.

Yet, it’s not only the brands at the higher ends of the market that are keen to tap Africa’s promise. In late March, pan-African conglomerate Lonrho teamed up with Stelios Haji-Ioannou’s easyGroup to open their first Africa-

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based low budget hotel in Johannesburg’s central business district.Ewan Cameron, chief executive of Lonrho Hotels, says the company plans to roll out 50 easyHotel units by 2016 in the continent’s high-growth destinations to cater to the needs of African business travelers.

“What’s driving us is genuine trade and business in the continent,” explains Cameron. “If you’re going to a city center like Nairobi, we want to be where the taxi rank is; where the market is -- unlike the competition who want to be, if you like, in the beautiful parts of the city,” he adds. “We will sacrifice this for economic drivers -- we want the trade and we want to be where you want to do business.”

‘Real challenges’Still, international hoteliers have to overcome several infrastructure and logistics obstacles in their bid to plant their flags across the continent.

Cameron says hotels often have to be self-sustained, depending on satellite connectivity for fast wi-fi and generators for back up power, as well as having to provide their own clean water. “These are real challenges for us today,” he says.

Analysts also say that companies can face big delays during the construction process due to poor workmanship and a shortage of professional skills. Bureaucracy and corruption can often be a problem too, especially when it comes to importing materials that are not available locally.

Quick returnsYet, despite these hurdles, hotel groups remain very positive about their future in Africa as the continued rise in demand and under supply in hotel rooms offer strong occupancy rates and high profitability margins in short periods of time.

“These challenges we face, we quickly forget about them the day the hotel opens,” says McLachlan. “Normally, we would say the hotel takes 1,000 days from the day it opens to stabilize but in a lot of these African markets it can take a couple of months to stabilize because of the high demand for hotels.”

Fitzgibbon agrees. “It’s fascinating when you look at the change and opportunity on the continent and just what it represents,” he says.

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In addition, according to the International Monetary Fund (IMF), Africa is favourably

positioned to become the 2nd fastest growing region in the world, while economic growth across the continent’s 54 countries will hover around 6% in 2012. (Forbes.com)

Global engineering, management and specialist technical services group Aurecon has a significant presence throughout Africa and is assisting its clients to capitalise on the multiple investment opportunities the continent offers. What’s more, its clients benefit from a unique combination of intimate local knowledge, combined with global expertise applied to projects that span the entire range of industries including property.

Comments Ermis Marques, Aurecon’s Global Industry Director, Property: “When it comes to large-

scale property investment in Africa, in particular, there is often a lack of local project experience, as well as a thorough understanding of project risk. Coupled to this, these kinds of projects frequently involve technology and concepts which are new to the continent.

As a result, the need for an experienced consultant to apply best-in-industry experience to overcome these challenges is key to achieving successful outcomes. Aurecon applies a unique blend of expertise to ensure the projects we undertake are a lasting investment and contribute positively to the betterment of surrounding communities.” says Marques

The group has realised significant success, in partnership with its clients, on a number of property projects in both Angola and Mozambique.

Africa Development

2012 was the 21st anniversary of the establishment of Aurecon’s offices in Luanda, Angola.

“The group’s involvement in the country is a story of perseverance, innovation and commitment to overcoming seemingly overwhelming obstacles to help lay the foundation of a new future for the country’s people,” comments Jose Miranda Aurecon’s Regional Manager Africa West Coast and South America.

Just some of the challenges encountered by the team have included a lack of availability of materials, equipment and experienced contractors.

“In the process of rising above these difficulties, Aurecon has facilitated a great deal of skills transfer to its local Angolan staff,” comments Miranda.

The group’s Angolan team has grown considerably over the years, and is now an important and growing part of the group’s Africa region.

The professional team consists of predominantly Portuguese speaking professionals. Most of these Angolan professionals have received training with the group, together with bursaries to upgrade their qualifications.

Partnering with clients throughout AfricaSuccess in property development in Africa relies on partnering with an experienced engineering, management and specialist technical services consultant.

Discover more about our proven track record on sustainable mixed use developments, hospitals, airport terminals, offices, data centres, leisure resorts, retail and light industrial facilities and more.

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PRO_Asset in Africa digital_2120x148mm_ 2013-05-23.indd 1 24/05/2013 8:53:24 AM

Celebrating 21 years in Angola

African economies are said to rank among the most resilient in the world. In line with this, at the height of the 2009 global economic recession, Africa was the only region, apart from Asia, that grew positively, at roughly 2%. The continent’s growth has been on an upward trajectory ever since then, at 4.5% in 2010 and 5.0% in 2011.

Partnering with clients throughout Africa


MDS Architecture has designed what will become Angola’s largest planned Shopping Mall in Luanda, which is being developed by McCormick Property Development, in conjunction with the landowners Valumax.

Africa Development

MDS Architecture has designed what will become Angola’s largest planned Shopping Mall in Luanda, which is being developed by McCormick Property Development, in conjunction with the landowners Valumax.

The first phase of Mondial Shopping will offer 55 000 m2 and will include as one of the anchors, the largest Shoprite in the world at nearly 10 000 m2. This provides an opportunity for future expansion of the shopping centre to approximately 80 000m2 by 2019. Construction will start in June 2013 and is targeted for completion in September 2015.

Louis Pretorius, the Project Architect and a partner at MDS Architecture, says that the location of Mondial Shopping enjoys significant accessibility and prominence by virtue of its position at the intersection of two new roadways that have recently been built to ease traffic congestion in the older part of the city. “To enable flexibility for future phases, the mall is a curved L-shape. It features three entrances, three promotional courts and a restaurant area including outdoor seating areas,” says Pretorius. The contemporary mall will accommodate 2000 parking bays, it will have prominent entrances in bold exterior colours and A-grade finishes throughout, all in line with the mall’s status as a regional shopping centre and the clientele it hopes to attract.

This shopping centre is the anchor development of a greater retail precinct and will form one of the largest mixed-use commercial developments in Angola. The precinct will include hotels, a 30 000 m2 value mart, a motor city and a private hospital.Based in South Africa, MDS Architecture has a substantial African project portfolio which continues to grow. The firm has designed and built a range of buildings in Botswana, Tanzania, Nigeria, Ghana, Mozambique, Angola, Zimbabwe and Mauritius. These include mixed use developments, shopping centres, hotels, hotel resorts and office developments.

ABOUT MDS ARCHITECTUREMDS Architecture is an award-winning practice that has designed buildings that attract the business, the people and the activity that lead to a sustained performance. With a proud reputation spanning almost 60 years, the practice is renowned for its skill in the sectors of hospitality and leisure, retail developments, offices, residential buildings and interiors. For more information on MDS Architecture, visit www.mdsarch.co.za

Compiled and distributed by text on behalf of MDS Architecture. For further information or images, please contact Despina Harito at tel (011) 452 1840 or cell 084 453 1755

MONDIAL SHOPPING to become Angola’s largest planned shopping mallMONDIAL SHOPPING to become Angola’s largest planned shopping mall

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Confirming the growing private equity role, Jan van der Merwe (Fund Partner – PAHF, Phatisa) called on real estate developers to turn to private equity for risk capital financing. Phatisa offers experienced real estate developers an innovative, quick and scalable source of financing solutions.

“The private equity financing model is superior in that it concentrates on value creation – active participation, instead of gaining interest on existing business profits. Though the scenarios may be different in every real estate project we invest in, we ensure that we actively spearhead project development, improve processes, increase supply chain efficiency and promote the projects’ marketing capability”, Jan added.

Private equity investors are keen to improve the business’ long term strategy and will go the extra mile to ensure the project accesses additional funding packages at optimal rates.

There are many challenges facing the sub-Saharan residential housing sector and a shortage of risk capital is frequently referenced as a major challenge for developers. Phatisa’s PAHF addresses this challenge at a time when demand for housing across the continent is ever increasing.

www.phatisa.com

In the real estate sector, increased demand for assets from both institutional investors

and individual investors is set to continue. Institutional investors (both international and African) are searching for yield and growth opportunities in predominantly commercial real estate whilst individual investors (including the burgeoning African middle class) will continue seeking accessible and affordable urban residential accommodation to house their families.

To drive development and bridge the gap between demand and supply, investment is required. Banks, insurance companies and private investors historically dominated the funding of large-scale development, but over the last few years private equity firms have stepped forward with a new offering for local real estate developers. One such firm is Phatisa.

Phatisa is an experienced African private equity fund manager, selec-ted by Shelter Afrique to manage the Pan African Housing Fund (PAHF), a new real estate private equity fund. PAHF attracted a series of international development finance institutions and African investors, including banks and insurance companies, to first close on US$ 41.5 million at the end of Q4 2012, and began operating in Q1 2013.

The Fund is targeting affordable and middle-income residential and aligned mixed-use developments and will initially focus on a limited set of geographies including Kenya, Zambia, Rwanda, Mozambique, Tanzania and Uganda.

Phatisa’s PAHF aims to deploy funding or risk capital into joint ventures that develop greenfield housing projects, and generally partner with experienced local developers.

Africa Development

It is still hard to ignore the impact that the global economic crisis has had across many industry sectors around the world. But an analysis by The Economist finds that over the 10 years to 2010, six of the world’s ten fastest-growing economies were in sub-Saharan Africa, more specifically Eastern and Central Africa.

Property development in east africa and the role private equity can play

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With an annual gross domestic product (GDP) growth rate of 7.4%, Ghana was number two in West Africa after Sierra Leone whose annual growth rate was over 9%, figures in the report showed.

Respectively the top ten performers were Ethiopia, Sierra Leone, Libya, Ghana, Rwanda, Liberia, Malawi, Zimbabwe, Nigeria and Mozambique.

“Ghana’s economy, after a sharp increase in 2011 when the country launched commercial oil production, slowed from 15.1 per cent in 2011 to a more realistic 7.4% in 2012,” said the report jointly produced by the Economic Commission for Africa (ECA) and the African Union (AU).

Growth rate in 2012 varied on sub-regional terms but the report says it remained robust in all of them.

The report pointed out that West Africa registered the highest growth, followed by East Africa, North Africa including Libya, Central Africa and Southern Africa.

It says economic performance in West Africa moderated to 6.3% in 2012 from 6.5% in 2011 as Nigeria, the continent’s second-largest economy, slowed to 6.4% from 7.4%.

East Africa’s growth slipped to 5.6% in 2012 from 6.3% in 2011, despite the report saying “most countries performed well in 2012, marking a recovery in agriculture, vibrant domestic demand and expansion in services”.

Growth in Central Africa remained at 5% in 2012 while Southern Africa’s output stayed almost the same for the third consecutive year, at 3.5%.

For North Africa, the report said the region almost fully recovered from the 2011 contraction that stemmed from political and social unrest in Egypt, Libya and Tunisia, reaching growth of 5.4%.

The report mentioned Swaziland, Sudan, Madagascar, Comoros and South Africa as having the weakest economic performance during 2008-2012.

In 2008–2012, the 256 page report indicated that the top 11 growth performers in Africa reached the 7% threshold estimated as a prerequisite for achieving the MDGs.

Titled “Making the most of Africa’s commodities: Industrialising for Growth, Jobs and Economic Transformation”, the report was officially launched at the just ended 2013 AU-ECA Joint Meetings in Abidjan, Ivory Coast.

Ghana was among the top-ten best economic performers in Africa between 2008 and 2012, according to the 2013 Economic Report on Africa released March 25, 2013. By Ekow Quandzie, back from Abidjan, Ivory Coast

Ghana is Africa’s 4th best economic performer in 2012

Country in Focus



“Large-scale scale investment in energy, including hydro, coal, geothermo and solar power over the next decade will therefore be critical to Africa’s transformation, both in the economic and social spheres.” She said.

Extending appreciation to Dr. DlaminiZuma for what he described as an informative and inspirational keynote address, and a visionary leadership in promoting African private sector participation in infrastructure development,” Hubert Danso, CEO and Vice Chairman of Africa, welcomed the collaborative partnership of the African Union. He noted that with the leadership of Dr. DlaminiZuma, as AUC Chairperson, Africa can increase its intra-Africa investment to 40%, from the current 5%, which is extremely low, especially when compared to the intra-regional average of 12-15%.

The 6th Africa Investor Summit was organized with the aim of bringing infrastructure project developers together, and to facilitate increased private capital and private investment flows into infrastructure projects in Africa.

The Commissioners for Infrastructure and Energy; Trade and Industry and other officials were also in attendance at the Africa Investor summit. They are expected to also attend the upcoming World Economic Forum.

The 6th Africa Investor Summit, Cape Town, South Africa

Africa Focus

Africa’s investors Challenged to invest in infrastructure to drive growth and prosperity agenda

Cape Town, 7 May, 2013: Ahead of the World Economic Forum billed to run from 8 – 10 May, 2013, in Cape Town, South Africa, African Investors have been challenged to convert continental constraints into opportunities for growth and prosperity. In a keynote address to open the 6th Africa Investor CEO Summit and Awards,the African Union Commission (AUC) Chairperson, Dr. Nkosazana Dlamini Zuma, called on private investors to increase their investment in infrastructural development. The lack of infrastructure is a constraint against growth. Investing to fill this infrastructural gap will unleash the potentials for future growth on the continent.

The Chairperson noted that while 65% of Africa’s infrastructural funding comes from public investments by governments, only a quarter (25%) comes from private investor, according to World Bank statistics. Investment from non-EOCD countries, including China, amounts to 6%, while that of multi-lateral development assistance remains at 4%. In a vivid comparison to illustrate the level of deficit, the Chairperson drew the investors’ attention to the fact that Africa’s total electricity generation equals that of Spain, even though we have twenty times the population.


Africa RisingMultimedia

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The Fastest Billion: The Story Behind Africa’s Economic Revolutionby Charles Robinson

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Investing in Africa: Opportunities and challenges. Sub-Saharan Africa will be home to 7 of the world’s 10 fastest growing economiesinthenextfiveyears.U.S.Sen.ChristopherCoonsjoinstopAfrican investment managers and business leaders before a live audi-ence to identify key opportunities and ways to address risks, in a panel moderated by Editor-at-Large Sir Harold Evans.



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Broll Property group began the year with offices in fiveAfrican countries: its South

African headquarters, Ghana, Malawi, Namibia and Nigeria. This year, Broll hasopenedofficesservicingMauritius,Madagascar, Seychelles and Rwanda. It willalsoopenanofficeinKenyabeforethe end of the year.

Malcolm Horne, CEO of Broll, says: “There’s been a positive shift in investors’ attitudes to the fortunes of the African continent. More and more multinational companies are tapping into sub-Saharan Africa’s fast-growing consumer markets and Broll is positioning itself as a service provider of choice operating across sub-Saharan Africa.”

He adds: “The lack of a formalised app-roach to property management and maintenance in many African countries opened the door for Broll to replicate is South African offering elsewhere on the continent. With our new African offices, Broll will bring its specialisedservices and unique capabilities to these markets. With more multi-national

Broll opens new African offices

Sector in Focus

Broll is opening three new offices on the African continent in 2013, further confirming its position as Africa’s leading property services provider. Broll is now active in 15 African countries.

companies interested in Africa, prof-essional leasing and corporate real estate services are making inroads into previously undeveloped markets.”

Broll’s assets under management recently exceeded R60 billion, of which R12 billion is outside the borders of South Africa. The group now employs 1,182 people with more than 200 people in various African countries. Broll African business units all have their own core team situated in each country and operating separately from Broll South Africa.

Leonard Michau, Director responsible for Africa at Broll says: “The growth story of sub-Saharan Africa is a com-pelling one.

Advancing infrastructure development, impressive demographics, the tele-communications revolution, improving political stability, sound macroeco-nomic policies and deregulating industries across the continent is all driving greater investment in Africa” says Michau.

Broll’s African expansion responds to this investment growth.

Broll Indian Ocean opened in March this year with its base in Mauritius also covering the territories of Seychelles, Madagascar and Reunion Island. Michau confirms that Broll has its sights set on a future office inMadagascar.

Broll’s third new African office in2013 will be its Kenya office, set to open in August in Nairobi.

“KenyaistheeconomichubofEastAfrica. IT simply can’t be ignored. It has sound macroeconomic and political policy in place. Many corporate companies and organisations are locating their African head offices in Nairobi,” says Michau. “We’ve already got great relationships with several local clients through our South African business which provides advisory and broking services to the local market.”

Leonard Michau, Head sub-Saharan African

Operations at Broll Property Group

Broll Office Rwanda


The local tourism industry is expanding far faster than the rest of the economy, with visitor numbers on the rise and investment levels increasing, though it still has to combat negative perceptions of cost and security that dampen South Africa’s popularity as a holiday destination.

According to a report issued by the World Travel & Tourism Council (WTTC) at the end of February, the total contribution of the industry to the economy last year - taking into account

both direct revenue and indirect factors such as state spending on tourism related infrastructure and support, the supply and purchase of goods and services, transport, information technologyandutilities-cameto$34bn, justunder10%of GDP. The report predicted that tourism’s input would riseby1.9%thisyearbutaverage4.5%growththroughto 2023.

The 2012 figure puts tourism’s total contribution to theeconomy roughly on par with that of the direct input of the mining industry,whichwas around9%ofGDP in 2011,according to the Chamber of Mines, though tourism creates farmore direct employment - some620,000 jobs in 2012- compared to the minerals sector, which provides work for some 500,000 South Africans.

The sector also attracted investments of $5.6bn last year, with capital inflowstotheindustryestimatedtoriseincrementallyoverthelong-term,ataround3.5%yearonyearoverthenextdecade.

However,theactualfiguresmaysurpasstheWTTCforecastsiflastyear’strendsin the tourism sector are maintained into 2013. According to data issued by the Department of Tourism on April 16, South Africa welcomed 8.3m overseas tourists -thosefromnon-Africancountries-inthefirst11monthsof2012.Thisrepresentedagrowthrateofsome16%year-on-year,fourtimestheglobalaverage.

While well entrenched, a recent report by the World Economic Forum (WEF) did warnthereweresomethreatstoSouthAfrica’sposition,thoughthesurveydidfind

South Africa: Tourism rising above challenges

Sector in Focus

the tourism sector well dug in. In its Travel and Tourism Competitiveness Index for 2013, the WEF ranked South Africa 64th globally and third in Africa for travel and tourism competitiveness, two rungs up since the forum’s previous survey in 2011.

The report praised the government’s commitment to backing the industry, both through direct support and in improving ease of doing business in the sector by establishinganefficientregulatoryregimeandputtinginplacealiberalvisasystem.

“Indeed, tourismcontinuestobeoneof thefiveprioritysectors in thecountry’sgrowth plan, and the government has reviewed tourism legislation in an effort to

streamline it further,” the report said.

However, while the WEF gave South Africa high marks for its natural resources and stringency of environmental protection and air

transport links, it fared less well when it came to matters of security, with the country being ranked 117th out of 140, and 130th in terms of the costs of crime and violence to business. The report also found that South Africa was losing some of its cost effective edge over a number of its rivals.

“Additionally, this year South Africa has experienced an increase in fuel prices, ticket taxes and airport charges, which have diminished its price competitiveness,” the survey found.

The WEF is not alone in identifying safety issues as a drawback for the industry. Concerns over security are a

majorfactorindeterringtravellers,whowillbefarlesslikelytotraveliftheylackconfidenceinthesocial,politicalandeconomic

foundations of the destinations they want to visit, according to Mariette du Toit-Helmbold, the head of Cape Town Tourism, the city’s

officialtourismmarketingagency.

“Crimeandsafetyisonemajorconcernofpotentialvisitors,”duToit-HelmboldtoldOBG. “We can assist in alleviating these concerns by distributing safety tips and helpful hints on safety in Cape Town as well as true and relevant stats on crime in SA when opportunities arise, which we do. Also, being transparent with regard to information on safety forums and decisions taken to prevent crime against tourists is helpful.”

The increasing levels of revenue and arrivals suggest, however, that few foreign tourists have been put off from visiting South Africa so far.


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Asset in Africa price list and material specifications. Prices are excluding VAT, but include advertising agency commission. Quoted in South African Rands• July, September and November 2013• January, March, May, July, September, November 2014

Insertion into Asset in Africa6

Inserts

R17 250

R14 950

R9 100

R7 500

R6 200

R5 000

R3 800

–

R17 250

3 Inserts

R17 800

R15 450

R9 450

R8 000

R6 400

R5 500

R4 000

–

R17 800

1Insert

R18 750

R16 250

R9 950

R8 500

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Half Page

One Third Page (Vertical)

Quarter Page Strip(Horizontal)

Banner Advertising (Reader Interface)

Front Cover Corner Sash

Front Cover & Story

InsideFront Cover

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210mm(w) x 297mm(h)

Vertical105mm(w) x 297mm(h)

Horizontal210mm(w) x 148mm(h)

70mm(w) x 297mm(h)

210mm(w) x 80mm(h)

2500pixels(w) x 60pixels(h)(see next page for specs)

_

–

210mm(w) x 297mm(h)

Company Profile

R20 000

R25 000

R30 000

2 Pager

3 Pager

4 Pager

Issue

July 2013

September 2013

November/December 2013

Booking Deadline

14 June 2013

14 August 2013

14 October 2013

Material Deadline

20 June 2013

20 August 2013

20 October 2013

ThemesJuly: East AfricaSeptember: West AfricaNovember: North Africa

Material DeadlinesFor advertising deadlines please contact [email protected] editorial deadlines please contact [email protected]

Design FeeR500 per hour

R295 per banner ad

Christine Isted082 570 [email protected]

AFRICAA+sset in

Profile & Prices 2013

the commercial property magazine focused on the african market

Asset in AfricaAfrica’s economic growth over the past decade is nothing short of phenomenal. The continent is today one the world’s fastest-growing regions.

With this in mind and as a means of narrating the African story, Asset in Africa was born. This bi-monthly digital magazine, boasting an initial readership of some 23 000, focuses on and celebrates property development throughout Africa; it zooms in on economies, politics, grassroots development and the continent’s forward momentum into commercialisation and industrialisation. This is the next development story and you can leave your legacy in its annals.

What is Asset in Africa?ItisthefirstandonlyAfrica-specificrealestatedigitalmagazine,containinginteractivelinksto contributor websites, LinkedIn, Facebook, YouTube channels and vodcast presentations. The star of print is waning; digital is today and tomorrow. It is your direct, interactive and manageable link to your market. And if your market is Africa, this is your portal.

ReadershipAsset in Africa is distributed in southern Africa, and other select African markets. In particular, distribution covers the following:•Institutionalpropertyownersincludinglistedandunlistedpropertyfunds•Privatepropertyinvestors•Propertydevelopers•Propertyassociations•Propertyandbuiltenvironmentprofessionals•Propertyservicescompaniesandprofessionals•Productandserviceproviderstothebuiltenvironment•Researchcompanies•Financialinstitutions•Corporateoccupiers•Tertiaryinstitutions

Go DigitalAdvertisers,publishers,publicrelationscompaniesandmediaplannersalikeareallabletobenefitfromthedata which the use of a digital platform is able to provide. Is your advertising campaign being noticed? Are your articles being read? These statistics, which can be provided quickly and easily, are available to help you hone your message and reach your audience.

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Static MaterialStaticmaterialisflattenedmaterial(egPDForJpegfiles)thatdoesnothaveanymovingcomponents. On all advertising material we will place a hotspot or e-mail link that, when clicked on, will take the reader to a web destination of your choice – e.g. your company web page, Facebook page, etc.

SuppliedartworkmustbesentineitheraflattenedhighresolutionPDFX1Aformatincludingafontfile,orasanopenpackagedfile(AdobeCoralDraw,AdobeInDesignorAdobeIllustrator).Artworkcanalsobemadeupbyourcreativeconsultantfollowingabriefingmeeting,duringwhichthecostwillbedetermined.

Dynamic MaterialWe can publish dynamic material supplied in Flash or HTML5 format. If you would like to submit such material, please discuss any queries you may have with our design consultant.

Material Specifications for a static/flattened Advert• A5mmbleedneedstobeaddedtotheentirecircumferenceoftheadvertisingspace• ArtworkmustbesentineitheraflattenedhighresolutionPDFX1Aformatincludinga fontfileorasanopenpackagedfile(AdobeCoralDraw,AdobeInDesignorAdobeIllustrator)• Artworkmustcontainallprinterandregistrationmarks• Imagesmustbehighresolution(300DPI)JPEG/TIFFfiles• ImagesmustbeinRGBformat

Material Specifications for digital banners• Bannerdimensionsforthetoprevolvingbannerneedtobe(2500x60pixels)• Ifinsertingflashintoyourbanner,pleasemakesurethatitisonlyactivefromthesecondframe.

Tips for creating an online advert• Donotplaceanycontentordetailsthatwillhaveawebore-maillinktooneartothetrim of the page, especially the top and bottom right hand corners as this is where one clicks to turn the page.• Itisbesttokeepyouradvertisementimage-basedandnottext-based.Keeptexttoaminimum andratheraddalinktoyourwebsitewherereaderscanfindmoreinformation.• Fontsizesshouldbeaminimumof11points.• Giveyourselfenough‘breathingroom’orspaceinyourlayout.Thisisespeciallyimportantaround text.• Tryandkeepallyourtextinformationtothecentreofafullsizepage.Thestandard zoom function on most computers zooms to the centre of the pages and then allows for manual navigation.

Publisher Tony KorstenMobile 083 410 0144Office 011 640 1684/34Fax 086 541 2015Email [email protected]

Editor David A SteynbergMobile 072 154 6023Email [email protected]

Sales Rachel FeldmanMobile 082 334 3466Email [email protected]

Design Christine IstedMobile 082 570 3284Email [email protected]

Asset Publishing (Pty) Ltd.

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