Explaining Large-Scale, Mixed-Use Developments in Africa through the Lens of Real Estate Development Theoretical Models

Francois Viruly, Uche Ordor, Lucia Schlemmer, Aly Karam and Dayni Sanderson

AfRES from African Real Estate Society (AfRES)

Abstract: This paper aims to provide new insights into the theoretical models that can be used to explain the initiation and progress of large-scale mixed-use urban developments in Africa. These projects often attempt to find a mix between residential and non-residential uses. Most of the existing literature has tended to look at these developments through an urban planning lens. This paper considers the application of theoretical models that have evolved in the real estate literature, which have been used to explain the development process and the objectives of the stakeholders involved. These models are derived from the economic and financial disciplines, including event sequencing, financing/economics and behavioural and institutional models. The research concludes that these lenses have a role to play in explaining the trajectory of large-scale, mixed-use developments located in Sub-Saharan Africa. The research focuses on several case studies that were initiated a decade ago and considers the progress that they have made.

Keywords: African Cities; eco-cities; mixed-use development; Property Development; real estate development, satellite cities; Smart Cities; Urban Planning (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2024-01-01
New Economics Papers: this item is included in nep-ure
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