News Column

ICSC Hosts Industry Summit for Sub-Saharan Africa

August 19, 2014

NEW YORK, Aug. 19 -- The International Council of Shopping Centers issued the following news release:

The International Council of Shopping Centers (ICSC) is hosting an Industry Summit for Sub-Saharan Africa, in Cape Town, South Africa on 19-20 August 2014, in association with the South African Council of Shopping Centers (SACSC). The event will precede SACSC's Annual Congress, and will focus on the growing economic opportunities in the region.

The African Development Bank, in their most recent annual report, predicts that foreign investment in Africa will hit a record of $80 billion this year.

In their latest World Economic Outlook, the IMF noted that "economic growth in Sub-Saharan Africa is projected to pick-up from 4.9% in 2013 to about 5 1/2% in 2014." Global growth is predicted to be around 3.6%

Africa has the highest population of teenagers (age 13-19) than anywhere else in the world, taking a 15% share of the total number of teenagers worldwide.

For retailers and shopping center professionals, those kinds of figures speak volumes. With the influx of interest in development across the region, this industry summit will provide attendees with key findings and trends from across the region to help educate those looking to expand into this emerging market.

"With so many participants in this year's summit, including developers, retailers and investors, from all over the world, it is clear to see that the Sub-Saharan African region is poised to be a powerful player in the worldwide economy," said Robert Welanetz, global retail real estate advisor, Blackstone Real Estate Partners, and ICSC's 2014-2015 chairman. "This summit will provide attendees with a glimpse into the future of the high-potential retail markets in Africa, and is sure to be an outstanding program," he said.

The two-day summit will welcome Welanetz, as well as Bart Van Dijk, partner, A.T. Kearney, who will discuss the 2014 Africa Retail Development Index. The summit is being led by Mike Rodel, executive director, Emerging Market Real Estate, and chair of ICSCs's International Advisory Committee.

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Source: Targeted News Service

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