Construction & Real Estate

In current prices, the construction sector’s value-added was equal to 5.9% of GDP in 2016, according to the BCEAO, up from 1.7% in 2010. Overall, strong demand for residential units and office space, as well as government-led social housing initiatives and falling mortgage interest rates, should underpin continuous development and sales growth over the medium term. This should be bolstered by planned investment under the 2016-20 National Development Plan, which puts a large emphasis on infrastructure construction. The real estate sector has witnessed strong activity in recent years, as stability has returned to the country and a large shortfall in property availability across market segments has attracted international investors and developers. Challenges for the sector include difficulties accessing financing and rising land and cement prices. However, measures are being undertaken to tackle some of these hurdles, including the expansion of domestic cement capacity and the launch of a national land registry.

This chapter contains interviews with Claude Isaac Dé, Minister of Construction, Housing, Sanitation and Urbanism, and Clyde Fakhoury, Administrative Director, PFO Africa.