Cameroon: CFA27 billion real estate project to generate 1,500 jobs in Yaoundé

Real estate

Cameroon: CFA27 billion real estate project to generate 1,500 jobs in Yaoundé

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- Monday, 16 October 2017 18:54

(Business in Cameroon) - Z Properties Ltd and Cameroon’s Investments promotion agency (API) signed a partnership agreement to build a multipurpose real estate project in Yaoundé, official sources revealed highlighting that the project will create 1,500 jobs.

With this agreement, the project, which will cost around CFA27 billion, is eligible to the 2013 law which promotes private investments in Cameroon. This law provides a 5 to 10 years tax exemption to newly created companies.

Our sources revealed that the project, led by the Ministry of Urban Development and Housing, Crédit foncier du Cameroun (CFC) and the agency in charge of lands management and development in Cameroon (Maetur), will be funded by American and South African investors.

BRM

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