Updated Dec 18, 2023
KE International Secures $4B Loan For Akon City Development In Senegal
Mermoz Sacre Coeur, Dakar, Senegal
$4,000,000,000
Building Size
—
Asset Type
Other
Closing
Jun 15, 2020
About this deal
AI
Akon City, located in Dakar, Senegal, has secured a loan of $4,000,000,000. The loan amount will be used for the development of the city, which spans over 2,000 acres in West Africa. The project is being undertaken by KE International in collaboration with the Republic of Senegal's State Tourism Agency (SAPCO) and Akon.
Summary of transaction details
- Property Type: City
- Transaction Amount: $4,000,000,000
- Developer: KE International
- Landlord: SAPCO (The Republic of Senegal's State Tourism Agency) & Akon
- Lender: Julius Mwale
- Address: Akon City, Dakar, Senegal, West Africa
- Market: Akon City
- Acres: 2,000
Julius Mwale, the lender in this transaction, has provided the financial support necessary for the development of Akon City. The collaboration between KE International, SAPCO, and Akon showcases a shared vision for transforming the city into a vibrant and sustainable urban center in West Africa.
Players
Dakar Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.00%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93