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SOURCE Comer Africa Real Estate Limited
LONDON, June 9, 2014 /PRNewswire/ --
Comer Africa Real Estate (CARE) today announced the formal appointment of Strand Hanson as financial advisor and Memery Crystal as solicitors to advise on its forthcoming capital raise.
Comer Africa Real Estate was founded by the Comer Group, who are one of the most prominent developers of commercial and residential property throughout Europe, in particular in the UK, Germany and Ireland, along with Ozwald Boateng's Made in Africa, the official partners of African Development Bank's Africa50 infrastructure initiative. The two founders have worked together for several years to bring Sub Sahara's largest planned urban regeneration site (150 acres) in the center of Kampala, Uganda, to fruition. In addition to New Kampala, the CARE team is targeting a number of other large scale development opportunities in high growth African cities.
CARE is in the process of completing a private placement to raise capital for development of its project pipeline, including construction of residential and commercial phases of New Kampala. Strand Hanson and Memery Crystal have been appointed to assist with this and subsequent funding rounds. Their appointment is an important step towards CARE's goal of becoming the leading player for bringing international investment into the booming real estate sector of Sub-Saharan Africa.
Brian Comer, Director of CARE, said: "We are delighted to welcome two firms with the reputations of Strand Hanson and Memery Crystal into our team. We are determined to lead the field in investing in new city centre zones in Africa."
Chris Cleverly, representing shareholder Made in Africa Foundation said: "The central philosophy of CARE will be to take on the exciting new opportunities for developing commercial and residential city centre zones, on a sustainable basis and working in full cooperation with governmental and municipal authorities."
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