A value recognized throughout the West African sub-region, SERTEM is today at an important point in its history. Indeed, the prospects offered to the group thanks to the reputation it has built up augur well for sustained business growth in the years to come. In order to mobilize the necessary means to undertake this potential, SERTEM is now open to investors who want to play apart in the development in Africa. The group intends to take a new step forward in its growth by increasing its financial and production capacities and by focusing on international markets. With a team that is both experienced and young and dynamic, trained in Europe, America and Africa, including former employees of EIFFAGE, BOUYGUES CONSTRUCTION and GOOGLE, the Group is entirely dedicated to achieving its ambitious development objectives.
SERTEM designs, finances, builds and manages residential and commercial real estate projects, mainly in the high end of the market, in Dakar, and soon in Mali and Ivory Coast. Over the past few years:
We operate in a very buoyant industrial sector that presents major opportunities. DELOITTE estimates the size of the construction market in Africa at almost USD 223 billion, 21% of which is in West Africa. Between 4% and 14% (depending on the geographical area) of this activity will be in the real estate sector. In West Africa, we therefore have a market of at least USD 2 billion, or about 1,150 billion FCFA, which is growing at a rate of 5% per year.
We have built a solid reputation in Dakar and, through the diversity of our clientele, throughout West Africa. We are constantly receiving proposals for partnerships in Mali, Ivory Coast, Congo, Mauritania, Algeria, etc. We have a mastery of the entire value chain in our sector, from studies to implementation and later maintenance and renovation, which allows us to bring innovate solutions in our sector, and to produce works that are clearly different from the batch in their design, their method of implementation and their finish. We are a point of reference in the markets where we operate and have the potential to become a continental reference.
Our strategy is built around two simple objectives which are :
1 - to give us the capacity to finance even more ambitious real estate projects, both residential and commercial
2 - to equip our design and construction tools with greater production capacity, while constantly improving the level of quality and profitability of this production.
We are dedicated to a mission of beautifying the face of Africa and we believe that urban development, which will inevitably accompany the economic development of our continent, must be done in an intelligent, coherent, orderly, refined, innovative, environmental and sustainable manner.
And we are convinced that we have the spirit and the team (although it needs to be strengthened and constantly upgraded with new design and construction techniques) to achieve this vision, with employees trained in Africa, North America and Europe, former employees of major international groups such as EIFFAGE, BOUYGUES Construction and GOOGLE, and all sharing our credo, "passion for challenge, demand for quality".
The historical performance of our real estate developments indicates on average an exit at about 2x after 5 years, or an average return on investment of 40% per year, for the equity invested in our projects. The current outlook for the construction division allows us to predict an exit at about 2x after 7 years for a direct equity stake, i.e. a return on investment of about 28.6% per year. Our performance also offers a safe value for debt investors.
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