Browsing: Real Estate

Business
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Mozambique brings in lion’s share of Grit’s rents

Africa-focused property developer Grit is estimated to be earning over $13m a year in rent from its six biggest tenants in Mozambique, with natural resources companies bringing in the majority, according to an analysis of the company’s annual [...]

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Business
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Property developer Grit cashes in on Mozambique gas and mining boom

Property developer Grit Real Estate Income Group appears to be cashing in on the anticipated resource boom in Mozambique, as oil and mining companies are estimated to be paying a total of around $5-6 million a year in rent for their offices and luxury flats in Maputo and Tete. Anadarko is [...]

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Business
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Exxon buys prime Maputo plot in near-$50 million deal

ExxonMobil has bought the rights to a 12 hectare plot of land in Maputo, capital of Mozambique, from state telecoms operator TMCEL, Zitamar News has learned. The US oil giant has paid $47 million for the plot in Sommerschield, neighbouring the Eduardo Mondlane University campus, [...]

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Finance
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Former Mozambican labour minister indicted in $1.6m corruption scandal

Mozambique’s former labour minister - currently the country’s ambassador to Angola - has been accused by state prosecutors of receiving MZN 100 million ($1.64m) in corrupt payments while serving in the government of Armando Guebuza up to the end of 2014, [...]

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Business
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One fifth of Mozambique construction companies have shut due to economic crisis

Roughly a third of the 3,000 civil construction companies that operated in Mozambique in 2014 are now technically bankrupt, and 20% have already closed their doors as a result of the country's’ economic crisis, according to industry figures. [...]

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Business
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Commodity investors turn landlords in Mozambique’s downturn

Major companies such as Mozal and Anadarko are entering the rental market to fill empty housing developments, as the downturn in global commodity prices leads to major delays on Mozambique’s mega projects. The fall in global gas and coal prices, coupled with Mozambique’s own economic crisis [...]

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Construction
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Sasol launches new training centre project in southern Mozambique

South African energy company Sasol is tendering for construction companies to build a new training centre southern Mozambique to provide locals with the skills to needed to work on its oil and gas project in the province of Inhambane.

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Agriculture
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Consultants sought for Arab Bank-financed Mozambique construction project

The government of Mozambique has launched a tender for consultants to design and manage a project to build a new higher education college in the north of the country, to be financed by the Arab Bank for Economic Development (BADEA).

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