By Adrian Bishop (OPP.Today)

African real estate is the new driver of the global economy. That’s one of the main conclusions of the 10th Edition Hotelier Summit, held in Johannesburg, South Africa.

With oil prices fluctuating daily, there is a need to diversify from a heavily dependent oil-based economy. Over the last few years, notably in the hotel, retail and residential sectors, Africa’s rapidly growing property markets are attracting increased interest from international investors, developers and occupiers, the two-day summit heard.

In spite of developments occurring at a breakneck speed, the key areas that are often lagging behind are financial planning, project execution and the implementation of sustainable measures, which brought together investors from all over the world to engage with leading Sub-Sahara African real estate professionals.

Delegates including Sijibomi Ogundele, Chief Executive Officer of Sujimoto Constructions and Lee Karuri, Chief Executive Officer of Resorts & Cities Kenya, addressed the gathering of global suppliers and investors, outlining their long list of requirements both from an investment perspective and the supply chain perspective.

Sijibomi Ogundele says, “I found it very humbling and felt extremely privileged to have been invited to speak on the same platform with South Africa’s Tourism Minister, Ms. Tokozile Xasa, among other respected stakeholders. I met remarkable influencers such as Johannesburg’s Director, Economic Development Facilitation, Blanche Majosi; CEO Orion Group, Franz Gmeiner; President Continental Strategy Partners Ltd, Micah Wells; Nestle Country Head, Consumer Goods Johannesburg, Madoda Theo Mxakwe; CEO, Grohe, Michael Rauterkus; amongst an expected 1500 like-minds from 54 Countries across more than thre continents, to discuss Africa’s explosive property markets and how to continue to attract interest from investors and developers, home and abroad through innovative luxury real estate.”

IDE is committed to transforming the real estate sector across the continent and make Africa the next frontier when it comes to exceptional hospitality and excellent development.

Ravi Kumar Chandran, Director of IDE and mastermind of the 10th Edition Hotelier Summit Africa, explains his vision and drive for Africa. “This year, we hosted the inaugural Honorarium Grand to recognize and award the developers who have demonstrated their unwavering commitment towards the growth of the African real estate sector. It is IDE’s pleasure to have got the chance of honoring these personalities as they are able to see through the roughness of the market and take the risk of investing in Africa. Our endeavour is the continue this thought process of development among the real estate fraternity members including developers, contractors, designers, architects, consultants, suppliers and to the policy makers in a given region. By doing so our vision of regrouping the investor community in 2017 for Africa has set the agenda for 2018.”

Kgosi Nyalala Pilane, the Chief of Pilanesberg, fittingly concluded the first day of the summit when he said that for an economy to develop, what is needed is people, land and resources. Africa is blessed with at least two of the three factors – people and land. With 66.6% of the ingredients available, all we need is a platform like the Hotelier Summit Africa to make the plans and kick-start the development growth curve.

IDE aims to attract North African members to the 13th Edition Hotelier Summit-Africa in Casablanca Morocco, on 6 and 7 October 2017 and rounds off the year in Johannesburg in November at IDE Expo Africa.

The IDE Expo will cater to five different sectors of the real estate industry – residential, commercial, healthcare, education and hospitality and discuss the entire lifecycle of projects from conceptualization to operations.