The Cameroon Real Estate Company (SIC) has strengthened its landholdings in Douala, securing 28 new property titles that bring its total in the city to 234 hectares, according to company management. About half of this land is already developed, hosting 5,334 housing units.
The move includes legal ownership of estates in Bonamoussadi, Kotto, Makepe, Bassa, and Cité des Palmiers. SIC describes land title acquisition as a strategic step for any real estate firm, ensuring legal protection, asset valuation, accounting transparency, and the ability to use land as collateral for financing.
This initiative is part of a long-term program to regularize and secure SIC’s property portfolio. During a 2024 general assembly, Housing and Urban Development Minister Célestine Ketcha Courtès, who also chairs the company’s board, urged management to map all company land and speed up title acquisition.
In a context of rapid population growth and rising urban housing demand in cities like Douala and Yaoundé, the effort carries strategic weight. Cameroon faces an estimated deficit of 2.5 million housing units. To help close the gap, SIC plans to build 5,676 additional homes in the next five years as part of its recovery plan.
Financially, the state-owned company shows mixed strength. In 2023, it generated CFA3.2 billion in revenue and held a net cash position of CFA13 billion, but posted a modest net profit of only CFA213 million. The contrast highlights the gap between the scale of its land assets and its operational profitability.
By securing more land, SIC aims to protect its assets while laying the groundwork for a more aggressive strategy to reduce Cameroon’s housing deficit.