Africa set to see Record Real Estate Investment as British Entrepreneur Partners With U.S. Property GuruBy Mara Group, PRNE
Thursday, November 11, 2010
LONDON, November 15, 2010 - As the British Prime Minister and U.S. President broker Chinese and Asian
investment deals, Africa is the latest emerging economy to attract
Anglo-American attention with the announcement of a landmark joint venture
that promises to deliver economic growth across the African continent.
British-born Ashish Thakkar of Mara Group and Quintin E. Primo III of
Capri Global Capital have signed agreements to form Mara Capri Africa Ltd.
with the goal of pursuing high quality commercial and residential African
real estate developments.
Both Thakkar and Primo have a distinguished track record in the property
sector. Mara Group has a $1bn portfolio spanning four continents and Primo -
said by Forbes Magazine to be one of the U.S.'s top ten wealthiest
African-American's - co-founded the U.S.-based Capri Capital Partners LLC
with $3.6 billion in fair market value assets under management as of the end
of September 2010.
"Africa needs investment, not aid", said Ashish Thakkar, Founder and
Managing Director of Mara Group. "I'm so excited that we're able to partner
with a real estate visionary like Quintin Primo and I sincerely hope that our
combined skills can harness the amazing opportunities of this great
"Africa's un-tapped potential is staggering," said Quintin Primo. "As one
of the world's fastest growing economic regions it desperately needs quality
real estate. And, by seeking to address Africa's challenges, shared expertise
means we can also potentially help our economy and jobs at home - it's a
win-win for both continents."
"By 2040, Africa is projected to be home to one in five of the planet's
young people and the world's largest working-age population", said Thakkar.
"That, alongside increasing political stability and a rising middle-class
means that Africa is ripe for foreign direct investment and we hope to be at
the forefront of that".
Mara Capri Africa is expected to pursue substantial real estate
opportunities across all property sectors, including retail, office,
hospitality and residential.
- For the full release with background notes and pictures, please go to pozitiv.net/mara-group.html Media Enquiries: UK Glenn Kinsey, Pozitiv Communications T. +44-845-612-5733 or email@example.com Africa Antoinette Prophy, Mara Group T. +256(0)755-333-237 or firstname.lastname@example.org
UK Glenn Kinsey, Pozitiv Communications, T. +44-845-612-5733 or glenn at pozitiv.com, Africa Antoinette Prophy, Mara Group, T. +256(0)755-333-237 or antoinette at mara-group.com
Tags: Africa, London, Mara Group, November 12, November 15, United Kingdom