Real Estate Investor Magazine South Africa November 2015 | Page 62

AFRICA

Palma
The new ‘gem’ of Mozambique
BY BRYAN WESTER

P

alma is one of the most northern cities in
Mozambique and is somewhat overlooked
by the majority of the property market. It is,
however, strategically identified as a critical avenue
of gas exportation. It is a city that has many potential
benefits to be explored as the last frontier of ‘untapped
future potential’.
Palma has already been explored by the major
property developers of Mozambique as a somewhat
‘hit-and-miss’ destination with some developers
already failing spectacularly in order to gain in on this
market, with other developers having to re-adjust their
sights and create projects needed by the market on a
conceptual basis.
Palma is a shining example of what positive effects
the natural gas discovery will have on towns such as
these. Before this Palma was simply a small forgotten
town in terms of the global landscape, but now due to
the gas and proposed Liquefied Natural Gas (LNG)
site it is set to become a