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LUSAKA, ZAMBIA04 September 2019

POST EVENT REPORT

The third annual ZamReal Property Investment Forum which took place on the 21st of August 2018 once again provided a high-level strategic platform for the property industry to share insights, network and best practice ideas.

Growing annually, this year’s theme: Developing an Agenda for Prosperity created a platform for the sector to understand how the sector is likely to evolve.

As one of Africa’s most established and heavily invested real estate markets - Zambia continues to attract considerable regional investment and attention. Known for its highly developed retail market, the sector was again a central topic with new market reports developed to support the continued investment. Additional sectors which received a high degree of interest were infrastructure projects such as the Lusaka Decongestion Project and Airport Upgrades; the Hospitality and Tourism Sectors and more.

A noticeable outcome of this summit was the growing sophistication of the market - which was evident in the publishing of data on the state of the market in particular by the Urban Africa Real Estate Group. The deep level insights based on data provided a basis to evaluate the markets future growth. While many local experts have argued that the market is reaching a saturation point; this first time presented data presented at the forum paints a different picture. During the forum, we were pleased to welcome a number of senior-level public sector stakeholders to the event headlined by

Mr Ronald Chitotela who provided a deep level perspective on the Government’s housing and infrastructure objectives. His presentation was reinforced by several participants from key public sector institutions including the Lusaka City Council, Ministry of Housing, LSMFEZ and others.

The high representation of senior-level public-sector stakeholders at ZAMREAL 2018 forms part of a wider strategy by API Events to increase government support of the real estate sector. We believe that this strategy will ensure governments prioritise real estate as a key driver of economic stability and growth. We are confident that this will improve relationships, develop transparency and open communication between the sectors and decision makers in the future.

Yours in Zambian Real Estate,

Kfir Rusin Managing Director, API Events

AN OVERVIEW OF ZAMREAL 2018

103ANIES

41SPEAKERS

21MEDIA COMP

DELEGATES

31 29 145

253

2018 SPONSORS & PARTNERS

Property InvestmentConsulting and Advisory

Property Management and Support ServicesRetail

HoteliersConstruction and Engineering Services

Finance and BankingProperty Development

LegalArchitect

Quantity Surveying ServicesPension FundGovernment

Media and Other0%

10.84%

8.43%31.33%

3.61%0.00%

9.64%3.61%

18.07%2.41%

0.00%3.61%

0.00%

3.61%1.20%

5% 10% 15% 20% 25% 30%

AN OVERVIEW OF ZAMREAL 2018

INDUSTRIES REPRESENTED15

HOSPITALITY:

• Hotels in Zambia are concentrated in the south and in the mining nodes (Ndola, Livingstone and Lusaka)

• Hotel industry remains dominated by independent players (small presence from international chains in key business nodes – Lusaka, Livingstone, Ndola)

• Nationally, occupancy has increased by 2.7% from 48.0% in 2016 to 49.3% in 2017 whilst ADR has decreased 3.1% from 130.8 to 126.7 in USD terms. In Kwacha terms, ADR has decreased by 12.4% to KWA 1,205.8

• Lusaka hosting the greatest concentration of hotels (1,200 quality rooms) and the vast majority of international chains

• Lusaka market is currently over traded with subdued occupancy and ADR (Occ 52.8% and ADR USD 110.3 in 2017).

• High levels of new supply for a relatively small market (over 500 rooms entered the market over a 6-year period) combined with declining demand (rooms sold reduced by 4.0% in 2017 and by 11.0% YTD June 2018) due to more challenging economic conditions, has seen occupancy and ADR reduced by 1.1% and 2.0% respectively (YTD June 2018 vs YTD June 2017)

• Despite closure of some rooms at the Intercontinental hotel – occupancy and ADR remain under pressure

• With an estimated 450 new rooms planned in the next two to three years, conditions in Lusaka are likely to remain subdued in the medium term

• Leisure destinations such as Livingstone are also struggling

Above: Urban Africa Authors - Carl Johan Collet & Bonna Kashinga participate in the ZamReal Press Conference and share insights from their report.

RETAIL SECTOR:

• Zambia remains an attractive destination for investors with more than $1.3 BN invested across the real estate sector; primarily toward the retail sector

• $715 M of the 1.3 BN is considered Foreign Direct Investment (FDI)

• $400 Million is local money; primarily invested by pension funds

• Supermarket growth in Zambia currently averages 40%; and there are currently 81 in Zambia with the market able to accommodate an estimated 300

• For developers, 5,000 M2 and a cost of no more than $8 million is the optimum size for local institutions, while international investors are interested in Assets of $20 million and above

• The country continues to be a magnet for investment due to its strong liberalised investment and legal framework

• Additional investment drivers include: high GDP growth rates, emergent middle class, high penetration of existing retailers in the market and positive business climate

• Public sector initiatives focussed on developing infrastructure are attracting investment, most notably the Lusaka Decongestion Project

• Key beneficiaries of this project are developers such as Roma Park, who believe the new developments can alter the market

KEY FINDINGS

REPORTS RELEASED:

The Urban Africa Real Estate Group Ltd (UARE) released the first high-value report of its type: Lusaka Real Estate Market Report 2018 at the ZamReal Property Forum.

This detailed report provided enormous insight for the entire property sector to consider. Choosing to release this report at Zamreal provided Urban Africa with a high value audience and significant media attention.

KEY FINDINGS

Chibamba KanyamaManaging Consultant, Bridges Limited

Ronald Chitotela Minister of Housing and Infrastructure Development, Government of Zambia

Michael Kabungo Town Services Co-ordinator [Town Manager], Kalumbila Town Development Corporation Ltd - FQML

Muchimba Muvombo Maambo District Planning Officer, Lusaka City Council

Martin Libinga Registrar and Chief Executive Officer, The Pensions and Insurance Authority (PIA)

Perry Mapani Director General, ZDA

Phillip Katali Chitalu Chief Executive Officer, Securities and Exchange Commission

Priscilla Sampa Chief Executive Officer and Company Secretary, Lusaka Securities Exchange

Stuart Slabbert Economic Development Manager, African Parks

Suhayl Dhudia President, Zambia Property Owners Association

Charles Haba Managing Director, Century Real Estate, Rwanda

Michael Devereux Senior Director Development, SADC, Hilton Worldwide

Kelly Kalumba Zambia Institute Of Architects

Pamela NqiniHead of Market Development, Centre for Affordable Housing Finance in Africa

Paul Zyambo Chief Executive Officer, Urban Brands Asset Management

Mwiya Musokotwane Co-Managing Partner / Chief Executive Officer - Thebe Invesetment Management, Zambia

John P Causey IV Country Head: Zambia, Novare Holdings

Estella Nakaluzwe Environmental Planner, Lusaka City Council

Mukela Lubasi Interim Managing Director - LSMFEZ, Zambia

Bonna KashingaPartner, Urban Africa Real Estate Group

Natasha ChiumyaFolotiya and Chiumya Legal Practitioners

Sydney Popota Chief Executive Officer - Real Estate Investments Zambia Plc, Zambia

Nico De Beer CPF Head: Sales - Commercial Property Finance - FNB Business

Shaun Davy Managing Director, CPD Properties

Simone Kuhn Development Manager: Sub-Saharan Africa, Radisson Hotel Group

Carl-Johan Collet Managing Partner, Urban Africa Real Estate Group

Wayne Troughton Chief Executive Officer, Hti Consulting

2018 SPEAKERS

SOUTHERN REALTY

PRIVATE

RELAX NIGERIA LIMITED.

CRESTSOM SERVICES NIGERIA LIMITED

DCO INVESTMENTS

RMB WESTPORT

URBAN AFRICA REAL ESTATE GROUP

NZIKAGENERAL DEALERS

FNB COMMERCIAL PROPERTY FINANCE

C.P.A.E.S.S.

DEXTERITY SYSTEM SOLUTIONS LIMITED

MUKUBA

MUKUBA PENSION TRUST

ICT BOTSWANA

MOSES NG’AMBI ENTERPRISES LIMITED

CHOLUNTE EQUITY LIMITED

BVIL-BIG VISION INVESTMENT LIMITED

AMS LIMITED

POWER PLUS ELECTRONICS

MERCURY ENGINEERING AND CONSTRUCTION LTD

YEHTECH SECURITY SOLUTIONS

PARTNERS GROUP

MERRYTIME

MAMCO

DIMITRU ENTERPRISE LTD

ABB

LANDWORTH PROPERTIES

LAMASAT INTERNATIONAL LIMITED

A PLUS URBAN TECHNICS LIMITED

CORPORATE SUPPORT SYSTEMS LTD

A.M. WOOD & CO. LEGAL PRACTITIONERS

STANBIC BANK ZAMBIA

PENSIONS AND INSURANCE AUTHORITY

ZAMBIA DEVELOPMENT AGENCY

GALAUNIA FARMS LIMITED

EIGHT PILLARS REALTORS

ARTISAN

AFRICAN HORIZON CONSTRUCTION

URBAN HOTEL GROUP

MICMAR INVESTMENTS LTD

AFRICAN CITYSCAPE PROJECT MANAGEMENT

ANDERSON + ANDERSON INTERNATIONAL

ERNIE ELS GROUP

IPDS

PROFICA PROJECT MANAGEMENT (PTY) LTD

GRIT REAL ESTATE INCOME GROUP

BARI ZAMBIA LIMITED

AE7 DEVELOPMENT MANAGEMENT AFRICA LTD.

PUREVELD CONSULTANTS LIMITED/CFC

GROWTHPOINT INVESTEC AFRICA PROPERTY

DYMND LLC

COMPANIES IN ATTENDANCERMB WESTPORT PROPERTY PARTNERS SA

JLL

BROLL PROPERTY GROUP

BROLL

HOMENET PROPERTY MANAGEMENT

LILAYI REAL ESTATE

LAMASAT CORPORATE ADVISORY SERVICES LIMITED

ESTIM CONSTRUCTION CO. LTD

LETLOLE LA RONA LIMITED

BARCLAYS AFRICA / ABSA

MUSA DUDHIA & CO

STANDARD CHARTERED BANK

BARCLAYS BANK

(C&WE) EXCELLERATE PROPERTY SERVICES ZAMBIA

ACI (Z) LTD

VELOS CONSTRUCTION

AFRICAN LIFE FINANCIAL SERVICES

AFLIFE PROPERTIES

RIDER LEVETT BUCKNALL (ZA) (PTY) LTD TRADING AS RLB PENTAD QUANTITY SURVEYORS

CHINA NATIONAL BUILDING MATERIAL INVESTMENT ZAMBIA LTD

NOVARE

PLEXUS PROPERTY GROUP

UPMARKET PROPERTY CONSULTANTS

SIGNATURE PROPERTIES

PYLOS ZAMBIA

IMAGE PROMOTIONS

WORKERS COMPENSATION FUND CONTROL BOARD

PRUDENTIAL LIFE ASSURANCE ZAMBIA

PYLOS

ROTHOBLAAS

HOMENET ZAMBIA

KNIGHT FRANK

NAPOLI PROPERTY

PAM GOLDING PROPERTIES

MANDA HILL CENTER LIMITED

BLU ROCK LTD

ZESCO LIMITED

LUSAKA CITY COUNCIL

FCP AFRICA

RADISSON HOTEL GROUP

HILTON

URBAN BRANDS ASSET MANAGEMENT

FNB ZAMBIA

CENTURY REAL ESTATE LTD

CPD PROPERTIES/AFRITEC/ROMA PARK

FOLOTIYA & CHIUMYA LEGAL PRACTITIONERS

GREEN CODE ARCHITECTS LTD

CENTRE FOR AFFORDABLE HOUSING FINANCE AFRICA

AFRICAN PARKS

KALUMBILA TOWN DEVELOPMENT CORPORATION

THEBE INVESTMENT MANAGEMENT

URBAN AFRICA REAL ESTATE GROUP LTD

REIZ PLC

LS-MFEZ

BRIDGES LIMITED

REEDS BUSINESS SOLUTIONS

MINISTRY OF LOCAL GOVERNMENT AND HOUSING

ZAMBIA TOURISM AGENCY

LUSAKA SECURITIES EXCHANGE

MINISTRY OF HOUSING AND INFRASTRUCTURE DEVELOPMENT

ZAPOA

HTI CONSULTING

THE TIMES OF ZAMBIA

ZAMBIA DAILY MAIL

THE NEW VISION

DAILY NATION

NEWS DIGGERS NEWSPAPER

SOLWEZI TODAY

THE INFORMER

MANIC ZAMBIA

ZAMBIAN OBSERVER

ZAMBIA REPORTS

Q FM

5 FM

RADIO PHOENIX

HOT FM

ZNBC RADIO 4

ONE LOVE RADIO

PAN AFRICAN RADIO

ZNBC

PRIME TELEVISION

CBC TELEVISION

CITY TELEVISION

Q TELEVISION

DIAMOND TELEVISION

ROMA PARK

ZAPF

AMCHAM ZAMBIA

RENDEVOUR

NUVO CONSULTING

EXCELLERATE PROPERTY SERVICES ZAMBIA

PRIMETIME

TIME PROJECTS

KALUMBILA TOWN DEVELOPMENT CORPORATION

BCA PROPERTIES

P-ZED

INTEGRATED MARKETING CAMPAIGN

EMAIL MARKETING CAMPAIGN

A multi-month social media campaign resulted in ZamReal enjoying high latency in across major social media platform in Zambia significantly on Twitter and Linked In.

API Events commissioned, which generated thousands of views in the build up to the event for ZamReal and our strategic sponsors. Location: Great North Road

Twelve strategic emails were distributed to API Events Zamreal database

SOCIAL MEDIA CAMPAIGN

OUTDOOR MEDIA

CAMPAIGN

55%CLICK RATE

100 00012CAMPAIGNS TOTAL VIEWS

12 000EMAILS

DELIVERED

PUBLIC RELATIONS CAMPAIGN

$53 000 +Total Public Relations value earned pre and post ZAMREAL was

more than $53 000

API Events appointed a local PR counsel to distribute multiple strategic press releases in the build up to the event. These provided the event and key partners with significant traction in the market across television, radio, digital and print media.

Total Public Relations value earned pre and post ZAMREAL was more than $53 000.

API Events231 Oxford Road, Corner Hurlingham & Oxford Road

Illovo, 2196, Johannesburg, South Africa www.apievents.com

info@apievents.com

Contacts Our team values participation from the industries we serve. To participate in one of our industry defining conferences, please get in touch with one of our team members today.

Kfir Rusin Managing Director krusin@apievents.com

Chad Angel Commercial Manager chad@apievents.com

Elizabeth Haskins Head of Marketing elizabeth@apievents.com

Murray Anderson-Ogle Public Relations (PR) murray@apievents.com

Leanne Chilvers Senoir Event Co-ordinator leanne@apievents.com