South African Investment in Nigerian Real Estate Market Shrinks by 52% in Past Decade
A recent report reveals a significant decline in South African investment in Nigeria's real estate market, with capital shrinking from $300 million to $145 million over the past 10 years. South African firms like Shoprite and Standard Bank have played a key role in revolutionizing the Nigerian real estate sector, focusing on retail spaces and creating job opportunities.
Eddie McDonald, CEO of a South African group, announced a $271 million investment to develop shopping malls in second-tier Nigerian cities. Dolapo Omidiran, a research director, highlighted the impact of South African investors exiting the Nigerian market, leading to a shift in capital flow dynamics.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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