A UK investment firm is eyeing African real estate.

Actis LLP, a private equity firm, plans to invest up to $1.5 billion in African commercial real estate, aiming to benefit from the region's rising middle class. real estate companies in qatar

According to Bloomberg, Actis, headquartered in London, plans to invest in shopping malls, office buildings, and industrial park ventures that will be completed within the next five years.

Africa's population is among the world's youngest and fastest-growing. According to a McKinsey & Co. 2010 survey, household spending on the continent is projected to increase by 63 percent to $1.4 trillion by 2020.

Kevin Teeroovengadum, Actis' Sub-Saharan African real estate unit owner, told Bloomberg that "we are seeing a change in interest from South African brands to European retailers" looking for opportunities in fast-growing economies like Nigeria, Ghana, and Kenya.

Actis has invested $1.4 billion in seven Africa funds since 2003. According to Bloomberg, the proceeds of a $155 million real estate fund have already been invested in malls and office buildings in Ghana, Nigeria, Kenya, Botswana, and Mauritius.

Mr. Teeroovengadum said, "We have leapfrogged to 25,000 square meter shopping centers from established small shops" in Nigeria and Ghana. "The idea was that when you go to Africa, you profit from the development of the middle class."

Actis has partnered with GML, a Mauritian investment firm, to invest in Indian Ocean Real Estate Co., a $1.5 billion town being developed in the country.

The money would come from the proceeds of the company's second African real estate venture, which raised $280 million in October, as well as commercial partners and loans.

In London, a Bahraini bank makes a purchase.

The Islamic bank Venture Capital Bank of Bahrain has acquired a freehold residential development in Central London, its first investment outside of the Middle East and North Africa.

The residential construction is near Berkeley Square and Grosvenor Square in the Mayfair Conservation Area. The bank said in a statement that Mayfair Chambers includes a building under construction for six luxury residences, with a delivery date of April 2014.

Home prices in central London have soared in recent years, owing in part to Middle Eastern interest, but there have been signs of a slowdown recently.

"The development is underpinned by its prime position [in] Mayfair, which is considered to be one of the most prominent areas in London," VC Bank CEO Abdullatif Mohamed Janahi said in a statement. "Next to Oxford Street and one of the finest shopping streets in London; Bond Street, the development is underpinned by its prime location [in] Mayfair, which is considered to be one of the most prominent areas in London," VC Bank CEO Abdullatif Mohamed Janahi said in a statement.

"This acquisition is consistent with VC Bank's investment strategy, which is to diversify the investment portfolio geographically and across industries while focusing on high-quality, stable assets with attractive valuations."

According to the bank's website, VC Bank is the first Islamic venture capital bank in the GCC and MENA region. For the 15 months ended March 31, the bank posted total revenue of $39.6 million and a net profit of $20.2 million. In comparison, the company lost $58.7 million in the calendar year 2011.