Abstract
This study investigates the significance and profile of Listed Property Companies (LPCs) in 10 African countries namely; Botswana, Egypt, Kenya, Mauritius, Morocco, Nigeria, South Africa, Tunisia, Zambia, and Zimbabwe respectively for the period of 10 years from 2006 to 2015., the profile and some key indicators of each respective country has been identified to determine the significance of each respective economy. The study uses secondary data obtained from Thompson Reuters DataStream to extract the number of companies in each country and their respective profiles. Descriptive statistics were used to analyze 64 Listed Property Companies using simple percentages. The study revealed that most of the African countries are Opaque with very few semi-transparent such as Kenya, Mauritius, and Botswana with the exception of South Africa which is the only transparent, the study further revealed that most of the companies are established between 2010 to 2015. Egypt has the highest number of property companies 29 represented by 45.31 % followed by South Africa with 16 Listed property Companies Represented by 25 % while Nigeria, Kenya and Zambia have the least number of companies with 1 each represented by 1.56%.
Highlights
The significant increase of real estate securities in financial investment markets made real estate in Africa to continue receiving widespread attention and interest from both corporate bodies and the general public as one of the favorable and consistent opportunities, both the direct and indirect property investment has been regarded as an alternative way of investing in real estate
Data concerning Listed Property Companies from 10 African Countries (Botswana, Egypt, Kenya, Mauritius, Morocco, Nigeria, South Africa, Tunisia, Zambia, and Zimbabwe) covering 10 years from January 2006 to December 2015 was obtained from Thompson Reuters DataStream to analyze the significance and profile of Listed Property Companies in Africa
The study developed a profile of African listed property companies obtained from DataStream
Summary
The significant increase of real estate securities in financial investment markets made real estate in Africa to continue receiving widespread attention and interest from both corporate bodies and the general public as one of the favorable and consistent opportunities, both the direct and indirect property investment has been regarded as an alternative way of investing in real estate. The acquisition of shares in property investment companies specializing in real estate activities has become a more popular investment in indirect property. Real estate is becoming a driving factor influencing the changing face of entire cities and markets across the continent. Within this context, real estate is increasingly seen as a facilitator of business investment and economy and as a potential source for a competitive advantage [17]. An option for avoiding these difficulties may be the acquisition of shares in investment companies who are specialized in real estate investment. Real estate securitization has been identified as the logical answer to the efficient demand for real estate diversified portfolio
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