Verified data gathered from across Africa’s real estate investment landscape reveals that the continent’s leading property and hospitality roleplayers completed more than $2.1 billion worth of transactions over the past 18 months, representing one of the most concentrated periods of institutional real estate deal activity in the continent’s history.
The 28 transactions (across nine countries and eight asset classes) were closed by API Summit stakeholders from across the institutional property ecosystem – spanning listed capital markets, commercial, residential, hospitality, logistics and alternatives.
The full African Deals Index report – compiled in collaboration with Broll, the data and insights partner for API Summit 2026 – will be unveiled on the opening day of the event, taking place at the Cape Town International Convention Centre on 17 and 18 September.
Talk turning to investment action
The deal-making activity is a signal of the much-spoken-about potential for Africa converting into tangible action, driven by enhanced investor confidence.
“This isn’t a forecast – it’s a balance sheet. $2.1 billion in completed transactions tells you African real estate has moved past the conversation about potential and into the discipline of execution,” said Malcolm Horne, Group CEO of Broll Property Group.
Horne highlighted several key shifts reflected in the data.
“What’s notable is where the conviction is coming from: domestic pension capital acting as a structuring investor, not a passive landlord, and green-linked financing becoming a board-level decision, not a marketing line. At Broll, we see this in our own data every day – across the assets we manage, the cost of capital is increasingly tied to the quality of the asset, not just its location.
“That’s the market maturing in real time, and it’s exactly the momentum my team and I are looking forward to presenting and unpacking at API this year.”
The 17th Annual API Summit takes place under the theme Bold Capital. Real Momentum. and is expected to attract over 600 delegates from more than 30 countries.
Niyi Adeyele, Head of Real Estate Finance, Africa Regions at Standard Bank Group, commented on the evolution of real estate sector funding across Africa.
“It remains interesting to track the resilience and the evolution of activities in the sector, from growing capital market activities, to the rapidly increasing participation of domestic capital sources within the African continent from domestic focused institutional capital sources such as pension funds and family offices to pan-African investor platforms that tend to operate across multiple countries.”
He said that accordingly, sectoral activity levels remain positive, with the “growing pace of green field projects in key markets” providing “early indications of a new growth cycle for the sector”.
Major moves from domestic capital and DFIs
Domestic pension capital has moved decisively beyond its traditional role as a passive landlord, emerging as an active, structuring investor in African real estate – a shift that will be central to discussions at the summit.
The charge was led by South Africa’s Government Employees Pension Fund (through the Public Investment Corporation and retail property powerhouse Pareto), which concluded commercial, residential and industrial transactions valued at over $343.5 million since the start of 2025.
“Through the Standard Bank Group’s franchise operations across multiple countries, there are observed increase deployment of institutional capital to across key markets driving increased primary and secondary market activities,” said Adeyele, pointing to examples such as Grene Capital’s raising of $100 million from Nigerian pension for property investments in Nigeria and beyond.
Sustainability-linked deal leads the way
Sustainability remains a critical factor in real estate financing considerations – evidenced by the largest transaction completed over the past 18 months.
Standard Bank and its African Regions brand Stanbic (along with Rand Merchant Bank) acted as co-lender on a $300 million green financing facility to facilitate Lango’s bid to become Africa’s first Green Pure Play real estate company, with 90% of its portfolio certified according to international standards.
Amongst several other milestones, the Africa Logistics Property (ALP) Industrial REIT listing on the Nairobi Stock Exchange in March 2026 was notable as East Africa’s first listing featuring entirely IFC EDGE-certified green buildings.
Listed capital makes major moves
REIT capital markets were the second largest asset class by value across the period, accounting for $568.5 million of activity, with the action extending well beyond South Africa’s established counters.
East Africa welcomed ALP’s Industrial REIT (marking the region’s first industrial and first USD-denominated security); Centum’s TRIFIC Dollar I-REIT (the first green, income-distributing USD-denominated) and Acorn Holdings’ build-to-rent D-REIT.
On Zimbabwe’s Victoria Falls Stock Exchange, the Pfuma Fund REIT and Eagle REIT both listed, deepening a hard-currency capital market that scarcely existed five years ago.
“Seeing multiple REITs listing on exchanges in one cycle tells you the asset class has crossed from novelty to norm. Investors now have listed, liquid exposure to African real estate, and issuers have a repeatable route to permanent capital,” said Raghav Gandhi, CEO of ALP.
API Summit 2026 – ushering in the next wave of deals
The unprecedented commitment of capital into Africa’s real estate sector takes centre stage when the 17th Annual API Summit convenes. Welcoming the investors, developers, financiers and policymakers behind the continent’s most prominent deals, this year’s event features a new Multifamily Forum alongside the popular Hospitality and Proptech Forums; an impactful main plenary, workshops, deals and meetings rooms and investment showcases, and the 10th edition of the prestigious API Awards.
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