The Profile and Significance of Listed Property Companies in Some Selected African Countries

Sadiq Tukur, Jamilu Shehu


This study investigates the significance and profile of Listed Property Companies (LPCs) in 10 African countries namely; Botswana, Egypt, Kenya, Mauritius, Morocco, Nigeria, South Africa, Tunisia, Zambia, and Zimbabwe respectively for the period of 10 years from 2006 to 2015., the profile and some key indicators of each respective country has been identified to determine the significance of each respective economy. The study uses secondary data obtained from Thompson Reuters DataStream to extract the number of companies in each country and their respective profiles. Descriptive statistics were used to analyze 64 Listed Property Companies using simple percentages. The study revealed that most of the African countries are Opaque with very few semi-transparent such as Kenya, Mauritius, and Botswana with the exception of South Africa which is the only transparent, the study further revealed that most of the companies are established between 2010 to 2015. Egypt has the highest number of property companies 29 represented by 45.31 % followed by South Africa with 16 Listed property Companies Represented by 25 % while Nigeria, Kenya and Zambia have the least number of companies with 1 each represented by 1.56%.


Africa; profile; listed property companies; market value

Full Text:



Abdullah, N., & Wan Zahari, W. (2011). Performance of Property Listed Companies in Malaysia: 1996–2007. In Global Business and Social Sciences Research Conference, 20–21 June 2011. Retrieved from

Abdul-Rasheed, A., & Tajudeen, A. (2006). Performance Analysis of Listed Construction and Real Estate Companies in Nigeria. Journal of Real Estate Portfolio Management, 12(2), 177–85.

Astill, J. (2015, January 8). The twilight of the resource curse? The Economist. Retrieved from

Baum, A. (2008). The emergence of real estate funds. In A. Peterson (Ed.), Real Estate Finance: Law, Regulation and Practice (pp. 145–178). London: LexisNexis.

Central Intelligence Agency. (2012). World Factbook 2012. Retrieved from

Central Intelligence Agency. (2015). World Factbook 2015. Retrieved from

Chong, S. W., Geh, J. W., Tan, Q. S., Tey, C. K., & Yap, K. T. (2014). The risk-adjusted performance of Malaysia listed property companies: a comparative analysis (Doctoral thesis). Retrieved from

Economist Intelligent Unit. (2019). Country Forecast. Retrieved March 1, 2019, from

Emele, C. R., & Umeh, O. L. (2013). A fresh look at the performance and diversification benefits of real estate equities in Nigeria: Case study of real estate equity and some selected common stocks. International Journal of Development and Sustainability, 2(2), 1300–1311.

Gyourko, J., & Keim, D. B. (1993). Risk and Return in Real Estate: Evidence from a Real Estate Stock Index. Financial Analysts Journal, 49(5), 39–46. doi: 10.2469/faj.v49.n5.39

Hwa, J. K. (2002, January). Listed Property Companies in Malaysia: A Comparative Performance Analysis. Retrieved from;jsessionid=9F2FEB674F23B48D5C12A0EB21CC7708?doi=

International Bank. (2014). Doing Business 2015. Retrieved from

Jones Lang LaSalle. (2019). Transparency: Data, Disclosure & Disruption. Retrieved from

Kim Nguyen, T. (2010). The Significance and Performance of Listed Property Companies in Vietnam. Pacific Rim Property Research Journal, 16(2), 221–245. doi: 10.1080/14445921.2010.11104303

Kim Nguyen, T. (2011). The Significance and Performance of Listed Property Companies in Asian Developed and Emerging Markets. Pacific Rim Property Research Journal, 17(1), 24–47. doi: 10.1080/14445921.2011.11104316

Kim Nguyen, T. (2011). The Significance and Performance of Listed Property Companies in the Philippines. Pacific Rim Property Research Journal, 17(2), 260–286. doi: 10.1080/14445921.2011.11104328

Knight Frank. (2015). Real Estate Markets in a Continent of Growth and Opportunity. African Report 2015. Retrieved from

Lim, L. C., McGreal, S., & Webb, J. R. (2006). Perception of Real Estate Investment Opportunities in Central/South America and Africa. Journal of Real Estate Portfolio Management, 12(3), 261–276.

Newell, G., Wing, C. K., Kei, W. S., & Hiang, L. K. (2009). The significance and performance of property securities markets in the Asian IFCs. Journal of Property Research, 26(2), 125–148. doi: 10.1080/09599910903441721

Ratcliffe, J. (2009). Urban Planning and Real Estate Development. London: Routledge. doi: 10.4324/9780203935729

The World Bank Africa Region. (2011 March). Africa’s Future and the World Bank’s support to It. Retrieved from

Transparency International. (2015). Corruption Perception Index 2014: Results. Retrieved March 1, 2019, from

World Economic Forum. (2014). Global Competitiveness Report 2014-15. Retrieved from

Article Metrics

Metrics Loading ...

Metrics powered by PLOS ALM


  • There are currently no refbacks.

Copyright (c) 2019 Sadiq Tukur, Jamilu Shehu

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.