Standard Bank is optimistic about the development of the commercial real estate sector in Mozambique, driven by the easing of restrictions imposed by the coronavirus pandemic and, mainly, by the imminent start of the export of Liquefied Natural Gas (LNG) by the floating platform of the Coral FLNG Project.

The optimism, according to the bank, is also due to the possible short-term resumption of activities by TotalEnergies and other oil partners linked to the onshore Moz LNG project in the Rovuma basin, Cabo Delgado province.

This is one of the findings made at the Mozambique Real Estate Forum (MozamReal) held recently in Maputo and which brought together several players, including investors, financiers, brokers and real estate agents, and other stakeholders.

Speaking at the opening ceremony, the director for the Energy, Infrastructure and Commercial Real Estate Sector of Standard Bank Investment Banking, Edson Machel, referred to the importance of the event, which, in his opinion, is a discussion platform that greatly contributes to the growth and development of the real estate sector in the country, adjusting it to the highest standards in the region and the world.

"MozamReal allows the various stakeholders to share ideas and give their contribution so that we have a more robust real estate sector," considered Machel, for whom the meeting served to understand to what extent the country is prepared and how it should prepare itself to adequately respond to the demand that may arise in the coming years.

According to Machel, "there are improvements that must be made, because we must be prepared to serve the needs that may arise, for example, from the exploration of natural gas, specifically in the residential area, logistics, distribution and storage, offices, corporate accommodation, shopping centers, among others, not to mention that we have an emerging class in the country, which must deserve our attention.