Khartoum Sudan Real Estate
Sudanese authorities are beginning to reclaim illegally accumulated property from ousted leader Omar Bashir, while other assets will be hard to seize, experts say. The US Geological Survey (USGS) reports that the Red Sea hills are located in northeastern Sudan, in the south of the country, north of the Sudanese capital Khartoum and on the border with Ethiopia.
Sudan currently has around 20 million hectares under management, but 84 million hectares are agriculturally usable. Elsewhere in Greater Khartoum, farmland on the banks of the Nile has fallen victim to large urban development projects. The authorities in Khartoum have managed to retain control of urban land and compensate those who are dissatisfied with this state by using the state's own land, such as land in Mozambique that is owned by the state and cannot be bought or sold. It recognises the right of people and communities to use the land or sell assets on it, but not to provide a source of income for themselves.
Foreign companies operating in Sudan must be able to return profits in foreign currency. US companies should be aware that investors may struggle to transfer money to Sudan as long as international financial firms continue to exercise extreme caution in handling transactions. This caution may relate to Sudan's designation as a state sponsor of terrorism, as it needs time to complete Sudan's due diligence and absorb the high cost of access to its markets due to the long absence of international banking.
Many people who invest in real estate in Khartoum are surprised to find foreign tenants in their properties. The situation is ultimately fueled by tensions over the country in and around Khartoum and growing mistrust of the government's ability to protect the common good. Ahmed said the attraction of foreign tenants was so strong that it was difficult for landlords to evict them because of the lack of legal protection. He said that renting out properties to Ethiopians as a group had many negative consequences: "I think there is an attraction to foreign tenants.
According to Ahmed, one of the main tasks of the Land Commission is to check whether Sudan has a uniform legal framework for land ownership.
L Ltd. was established to implement comprehensive housing projects and to exploit the existing opportunities in the Sudanese housing market, particularly in the areas of housing, education, health and infrastructure.
The Sudanese capital, Khartoum, is currently experiencing a construction boom, with high-rise buildings being built in all three districts of the capital. Luxury houses and villas are located in the heart of the city, such as Al-Shabaab, Kordofan and the Old Town.
The most sought after areas of the capital are the Old City, Al-Shabaab, Kordofan and the southern part of Khartoum, as well as the city center.
Although the US has lifted sanctions since the end of Bashar's rule, Sudan remains on Washington's list of state sponsors of terrorism, discouraging investment, despite the lifting of sanctions. Sudan's ongoing civil war has kept investors at bay, including Walid al-Qaradawi, the head of Sudan Investment Corporation (SIC), the country's largest real estate firm. Al-Shabaab, one of Sudan's largest oil companies, has invested heavily in real estate in recent years, fueling a boom fueled by rising oil production. Almogran, which means "confluence" in Arabic, is marketed as a new business district in Khartoum, and many companies are buying land to build their headquarters there.
The CLTG is currently negotiating an end to the conflict, and investigators have so far recovered the relatives and aides of the ex-leader.
Some in Khartoum complain that there are too many empty apartments and that nobody rents them because the owners charge very high prices.
In reality, property prices are for the elite, and in particular, enthusiasm for them is concentrated in prime residential areas, even in those far from the urban fringes. In the capital there are more than ten residential complexes with gated communities of up to 10,000 people spread across Khartoum. There are also a large number of private and public housing complexes, such as the gated community, which are now spread across Khartoum.
Kartoum is home to thousands of foreigners involved in the huge humanitarian operations in Sudan, as well as entrepreneurs and entrepreneurs who are rebuilding the vast country devastated by decades of war. This has made it difficult for many local people to rent their houses and remain on the outskirts of Khartoum.
Many are tempted to sell or buy property by the huge income that can be generated from real estate brokerage in Khartoum. He is the fifth estate agent I visited in the past week in search of a flat Inkhil near Khartoum, Sudan's capital.
Then he lists what has become a scarce commodity in Khartoum these days: apartments, he says unexpectedly. He attributes the shift to two factors. First, housing allows many ordinary Sudanese to live in a more comfortable environment than in their home cities in the capital.