Actis named best developer in Africa

September 27, 2012
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One of its local investments is the Junction Mall in Nairobi, which it exited last year/FILE
NAIROBI, Kenya, Sep 27 – Private equity firm Actis has been named “Best Developer in Africa” by international finance magazine Euromoney, in the 8th annual global Euromoney Real Estate Survey.

This year’s awards process began in March and canvassed the opinions of senior real estate bankers, developers, investment managers, corporate end-users and advisory firms in over 70 countries.

One of its local investments is the Junction Mall in Nairobi, which it exited last year.

The firm invests primarily in retail and office developments in high growth markets such as Ghana, Kenya, Nigeria, Tanzania and Zambia.

In recognising Actis for the award, Euromoney Editor Clive Horwood said, “The winners of this year’s Euromoney survey are those that exhibited the ability to innovate and make best use of the inherent strengths of their organisation. In Africa, in particular, there are great opportunities for those companies best equipped to operate in challenging markets. Through the Euromoney real estate survey, the market has recognised Actis as the leader in this field.”

Current Actis developments include East Africa’s biggest retail centre Garden City in Nairobi and Ghana’s first green certified building One Airport Square in Accra and Ikeja City Mall in Lagos.

David Morley, Head of Real Estate at Actis said, “Sub-Saharan Africa has a population of 800 million people and is the fastest urbanising region in the world; an increasingly sophisticated consumer class seek places to live, eat, shop and relax in the face of chronic undersupply. There is tremendous opportunity for those who take up the challenge and we are very proud to see our work recognised in this way.”

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