5 Most Expensive Buildings in Africa

Buildings in Africa are now experiencing a change from just simple mud houses to sophisticated, expensive, and luxurious buildings with real estate becoming a gainful sector to look into.

 Real estate in Africa was estimated to be about $9 trillion. The exploration of this has borne lots of luxurious and expensive buildings and property in Africa.

Real estate is said to be one sector where wealth can be stored by individuals and now the governments of nations are using it to amass wealth. According to Mckinsey, about two-thirds of global wealth is stored in real estate. 

Looking at African countries like Egypt that spent about $3.5 billion on the Iconic Tower which is located in her administrative capital in Cairo.

In August 2021, Tanzania also revealed its plan to construct a 70 story spiral building for major tourism named the Domino tower with a four-year construction timeline. The Dominos tower is estimated to cost about $1.3 billion. 

Without further ado, here are the most 5 expensive buildings in Africa.

1. Iconic Tower: The Iconic tower is located in Egypt, in her administrative capital Cairo. The idea behind the 378m tall skyscraper is to help manage congestion in Cairo which is ranked amongst the most congested cities in Africa.

 The construction of the Iconic Tower started in May 2018. The projects employed about 5,000 workers and the tower is said to be 80 storeys tall and will be surrounded by 20 complexes the first phase of the construction was completed on June 27, 2021, and is expected to be completed by the first quarter of 2022 the iconic tower is worth $3.5billion.

2. Bibliotheca Alexandrina: Located in the city of Alexandrina the third largest city after Cairo Egypt the Bibliotheca Alexandrina is also referred to as the Library of Alexandrina the library houses about 8million books the idea of the structure is for educational and cultural purposes. Construction of the library started in 1995 ended in 2002 and it is worth $220 million.

3. AU Conference Center: Located in Addis Ababa, Ethiopia the idea behind the building was to create a conference center for African and foreign businesses. The building is worth about $ 200 million and it is the 2nd tallest building in Ethiopia the architecture behind the building was modeled  like two hands holding each other to show the relationship between China and Africa.

4. Pearls of Umhlanga:  The luxurious resort is positioned at the North coast of Kwazulu-Natal, South Africa. It offers deluxe apartments and a penthouse and the luxurious resort is strategically positioned close to the beach to give residents appealing views. The property is worth R3.5 billion the building houses 700 apartments and 60 shops.

5. Portside Towers: Located in Cape Town South Africa the Portside Tower became the tallest building in Cape Town upon completion in 2014 and houses have about 51,500m/sq office space with other spaces are used for retail shops and parking space. The tower is estimated to be worth R1.6 billion.

READ ALSO: African Billionaires with the Most Expensive Cars