Tag Archives: WAPI
As the city gears to host the globally recognised real estate-focused West African Property Investment Summit (WAPI) (WAPIsummit.com) next week, there is a renewed sense of investor confidence in the Nigerian real estate sector.
Nigeria, Senegal and Cape Verde dominate the West African hotel pipeline with 77% of the total planned hotel rooms
West Africa has been at the heart of the continent’s growth and economic transformation in recent years. Notwithstanding the sharp slowdown experienced in 2016 and 2017, the region’s economy is expected to rebound in 2017 onwards. Commodity-based economies, like Nigeria, are slowly recovering from the fall in oil prices and oil production, while countries like Côte d’Ivoire, Mali, and Senegal have shown economic resilience and sustained growth. As many of the countries continue to stabilize – politically and economically – the region will be better integrated from a local and international context. This increased integration raises the need for quality travel and accommodation infrastructure.
In some parts of West Africa, particularly Nigeria and Ghana, the lack of infrastructure is a huge driver of demand for mixed-use developments.