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Cameroon: Société nationale d’investissmement to create subsidiary in real estate

Cameroon: Société nationale d’investissmement to create subsidiary in real estate
  • Comments   -   Thursday, 24 April 2014 02:53

(Business in Cameroon) - On April 21, 2014, the Managing Director of Société nationale d’investissement (SNI) in Cameroon, Yaou Aïssatou, published a call for expressions of interest for “specialised consultants” for pre-selection to sit on the advisory commission for the “organisation of SNI’s real estate subsidiary”, a company that is the right hand of the Cameroonian State in the area of public entrepreneurship.

Holder of the State’s shares in several private and public companies in the country, Ms Yaou explains in the above mentioned document that the SNI “is planning to invest in real estate in Yaoundé and Douala in order to develop its real estate activity, to increase its land ownership and better manage the park that is already in existence.” Interested consultants are invited to submit their application no later than June 12, 2014 to the SNI’s Directorate of Real Estate Operations in Yaoundé.

The SNI real estate subsidiary currently being created will find in the real estate sector another public company, Société immobilière du Cameroun (SIC), which has built  around 11,000 housing units since independence, thus helping to reduce the country’s housing shortage which stands today at one million.

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