By Muhidin Ahmed, Managing Director Reading Time: 1min 47sec
According to Demographia world urban areas ranking (2019), the fastest growing city in the world is Batam, Indonesia, while Mogadishu, Somalia is the second, and Ouagadougou, Burkina Faso in the third place. Mogadishu was the second fastest-growing city in the world, after Batam, Indonesia, and it’s experiencing a transformational period; which entails in many aspects of development projects including housing, shopping malls, hotels, universities, restaurants, and entertainment venues, that will increase and boost the economic development and the country’s GDP – Gross Domestic Product.
After many years of civil strife and a little bit of peaceful transition, Somalia’s capital Mogadishu is transforming into a contemporary city with many different businesses evolving and competing with the international standards, particularly the Real Estate Sector; which is experiencing faster growth than any other cities in the East African region.
Somalis from the diaspora and those who live in the country are heavily investing in Real Estate businesses because it’s currently the most profitable business sector in the country. Besides, those from the diaspora who already own properties are renovating, selling or renting it while others are buying and using it as an investment in this bustling capital city.
Reasons to come back and invest in somalia
One question that each one of us should ask is, why we need to invest in Mogadishu’s Real Estate Sector? Despite the current security challenges, the answer should be simple:
- To gain higher returns and invest more in other businesses of your choice
- To divest from risky and not profitable businesses in the countries you live in Europe, North America, Africa, and the Arabian Gulf
- To participate and involve in your country’s development projects
- To maintain a close, strong and healthy relationship with your country and its people
- To bring back your expertise and business knowledge to the people that need you; not those who despise you
- To take advantage of the Low-cost in Real Estate investments in Somalia Vs higher investment costs with higher risks
- To enjoy the Low-cost of living compared to your European, North America, East/South African, and the Arabian Gulf regions higher living costs
- If you need help with your property rental, sale, or interested in investing in Real Estate, you can contact the Solia Estate Mogadishu Office at any time; is that easy!
More articles about Mogadishu, Somalia will be presented in this blog bi-weekly. Please, write your comments and suggestions in contact us section…
Solia Estate
Mogadishu, Banaadir
Telephone: +252 61 345 5557 / 062 345 5554 / 868457
Email: info@solia.so
www.soliaestate.com
