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The real estate sector in Lusaka is characterised by well-developed, investment-grade property assets across the retail and office sectors, but future growth is being constrained by the city's small population and the general low income of households. Ongoing road and rail infrastructure improvements will create smaller opportunities for commercial development in decentralised nodes.
Appetite for new and large-scale retail and office developments in Lusaka remains fairly muted compared to the interest shown two to three years ago. Instead, better opportunities are now being seen in the transactional markets. In light of U.S. dollar liquidity constraints and currency devaluation, purchasers may become more stringent on their conditions precedent and might require minimum occupancy rates and rental guarantees by the seller.
The industrial sector could well present some strategic opportunities for light warehousing and logistics. Zambia sits at the centre of Southern Africa and its rail and road infrastructure provides a gateway for the transportation of goods from South African ports to Central, East and West African markets.
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23 May 2016