Equatoria Tower is a new office block in Juba, South Sudan. This is Norfund’s second investment in South Sudan after Kinyeti Venture Capital Limited (an investment company focusing on South Sudan which is a joint venture with Swedfund).
The Equatoria Tower project entails the development of a 13-storey complex, of which around 90% will be office space with the balance split between retail and residential space, located in the heart of Juba’s commercial district. Office space is a critical component of business infrastructure. Increased availability of international standard – office space may attract more investors to South Sudan. As Equatoria Tower is the premier serviced building in South Sudan, it will offer reliable amenities such as water, electricity, sewage and solid waste handling, high speed elevators, ready-to-use ICT installations, and air conditioning. The project will create at least 100 direct and indirect jobs.
Equatoria Tower’s total development cost is around US$17 million. The project is owned by UAP Properties Limited, a South Sudan real estate company which is a joint venture between the Central Equatoria Investment & Development Corporation and UAP Insurance South Sudan Limited. The International Finance Corporation (IFC) and Norfund have each invested US$ 5 million as a loan in the Equatoria Tower project.