Real Estate Investor Magazine Mozambique Real Estate Investor Magazine Mozambique 2014 | Page 19

MAPUTO MARKET

W

Lourenço Marques, 1980

Then and Now: From a sleepy hollow of Lourenço

Marques to a thriving gateway to Africa – Maputo City
is growing, and growing fast.

www.reimag.co.mz

ith its tree lined
avenues, warm sea
breezes, side-walk cafés
and Portuguese style
architecture running
throughout the city, Maputo has a reputation
for being a laid back tropical city.
However, this is far from the truth with
large sums of foreign and business investments
spent on construction and¬ infrastructure,
with expatriate re-location growing at a rapid
pace. The city of Maputo is developing into
the powerhouse of the African market.
The real estate market of Maputo has
benefited the most from the recent surges of
growth in the Mozambican economy with
the majority of all head offices being based in
the capital city.
When driving through this city, one can
simply see the high levels of construction
activity being undertaken and the
introduction of many new high-rise
commercial buildings. Crane after crane
dominates the new emerging skyline with
an increase in new residential developments
around every corner.
The most notable changes currently underway in Maputo are those of a much needed
and wide-reaching infrastructure upgrade,
to combat the high level of activity and
expansion of the city, which seems to grow in
size every single day.
Maputo, formerly know as Lourenço
Marques during the colonial days, was
originally built for a capacity of 300,000
inhabitants but has now grown to
accommodate an estimated 2.5 million
residents. This surge in numbers has placed
the city under considerable stress, both in
terms of infrastructure and congestion. Now,
due to government actions this is being
rectified and transformed into a modernised
city.
Maputo has positioned itself as an
attractive entry point into most of Southern
Africa with it’s thriving port activity of
exports ranging from; coal, cotton, sugar,
rubber, wood, iron ore, motor vehicles, bulk
containers and cement among other things.
This has paved the way for Maputo to be
seen as an attractive investment and business
option for many international corporations
looking to conduct business in the country.
The demand for available land, residential
and commercial spaces for operation far
exceeds supply in terms of prices for a high
and over-inflated real estate market.
Mozambique Real Estate Investor 17