ABSTRACT
Africa's rapid population growth and intense urbanization places a significant stress on its cities and infrastructure, but it also creates opportunities for real estate development entrepreneurs. Real estate development entrepreneurs are needed to meet the demand for property. The focus in this chapter is on the formal sector. According to Knight Frank, Sub-Saharan Africa has several international investors, some are described below. Making land available for development by unlocking land markets is perhaps the major issue that needs to be resolved. African governments need to play the major role in land markets. Several African new towns received state-to-state funding from China primarily through the state-owned China International Trust and Investment Corporation. New towns offer a more efficient and effective place for property development. The land acquisition process and the process of joint venturing with a builder describe the initial stages of the development process for an entrepreneur who wants to create a project in Abuja.
