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Jul 29

Written by: International Marbella
Monday, July 29, 2013  RssIcon

International Marbella is excited to market a new development site situated on the coast of Inhambane by the Indian Ocean with planning to create a luxury 5 Star Beach Resort (25 minutes from the airport). Click for development details.With Africa having entered an explosive growth period creating new middle and upper classes together with an influx of foreigners flocking to start businesses – to the effect that currently over 1 million Chinese are working in Africa, a fast growing need for vacation resorts is happening.

(The Guardian 28-3-1012) “Maputo, the capital of Mozambique, no longer feels like an urban museum. Amid the crumbling grandeur rumble cranes and mechanical diggers, carving out a different skyline.

A construction boom is under way here, concrete proof of the economic revolution in Mozambique. Growth hit 7.1% last year, accelerating to 8.1% in the final quarter. The country, riven by civil war for 15 years, is poised to become the world's biggest coal exporter within the next decade, while the recent discovery of two massive gas fields in its waters has turned the region into an energy hotspot, promising a £250bn bonanza.

The national currency was the best performing in the world against the dollar. Investment is pouring in on an unprecedented scale; as if to prove that history has a sense of irony, Portuguese feeling Europe's economic pain are flocking back to the former colony, scenting better prospects than at home. Increasingly this is the rule, not the exception in Africa, which has boasted six of the world's 10 fastest-growing economies in the past decade.

From Cape Town to Cairo, there are signs of a continent on the move: giant infrastructure projects, an expanding middle class, foreign equity scrambling for opportunities in telecoms, financial services and products aimed at a billion consumers. Growth is no magic bullet for reducing inequality or fostering democracy, but the stubborn truth that it is still the world's poorest continent has done little to dull the confidence and hype about the African renaissance.

The World Bank predicts, with some countries hitting double digits. "Africa could be on the brink of an economic take-off, much like China was 30 years ago and India 20 years ago," the bank says. Many of the African lions are already outpacing the Asian tigers.

Africa exports its natural resources with the price and demand for them determined by growth in China, whose bilateral trade with Africa has grown tenfold in a decade, eclipsing that of the United States. In return, Chinese loans are funding many of the infrastructure projects changing the face of the continent. There are an estimated 1 million Chinese in Africa: trading, investing, building, labouring, running micro-businesses and, critics say, exploiting its wealth of natural resources.

On a recent afternoon at the Southern Sun hotel in Maputo, overlooking the Indian Ocean, the arrival of a delegation of Chinese businessmen in smart suits surprised no one. Mozambique is now an immensely attractive prospect as it emerges from a traumatic past of colonialism and civil war.

Today there is a growing middle class, as seen in the opening of shopping centers and, in 2010, a private hospital offering the country's first cosmetic surgery. And now Mozambique's long-untapped energy resources are coming into play. The remote Tete province boasts possibly the last big coking coal mine in the world. The giant Brazilian mining firm Vale, which began shipping from there last September, is spending billions on operations including a coal terminal and railways. It aims to double capacity from 11m tonnes a year to 22m by 2014. “

(The Economist 18-6-2013) “POLANA CANIÇO lies just two miles from the city center of Maputo, Mozambique’s capital. Almost all the houses in this small residential neighbourhood stand one-story tall and are owned or rented by Mozambican families. That is unlikely to be the case in a few years. As the capital continues to expand, areas like Polana Caniço will almost certainly be snapped up for new high-rise developments.

A similar transformation has already happened in Sommerschield, just south of Polana Caniço. A thriving expat community has developed around the university, but few Mozambicans can afford to live there. Rents have increased dramatically over the past four years; purchase prices have doubled. “The most common type of property has three bedrooms and we are talking about $3,000 per month onwards,” says Gonçalo Marques, a local estate agent. “You can find properties in prime areas for $7,000 per month. For purchase prices you’ll find that the same property might be sold for about $500,000—sometimes more.”

The arrival of migrants from rural areas and abroad has pushed up demand for housing. Attracted by strong economic growth and a common language, highly skilled Portuguese migrants have been increasingly flocking to their former colony over the past two years, as their own economy remains ensnared in the euro crisis. Registrations at the Portuguese consulate in Maputo rose by 25% in 2012, and the trend is expected to continue. “

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