Africa Construction

The Egyptian real estate market continues to exhibit potential, despite facing many challenges in the near term. Some of these, such as uncertainty, are the result of the turbulence following the 2011 revolution, while others, such as issues relating to the availability of land, date back several decades and will require sustained government action...

Although Egypt lacks a strong mortgage lending segment, promoting home lending is not a current political priority. However, over the longer term, developing a stronger lending framework could assist in assuaging the country’s housing crisis.

In December 2012, the Egyptian cabinet agreed to postpone the implementation of the country’s new property tax law – which had been due to take effect in January – until July 2013. The new law, which was intended to expand the tax base, was introduced to the statute book in 2008 under former president Hosni Mubarak but had not yet been implemented...

Commercial real estate developers in Egypt currently face a number of key challenges. Since the 2011 revolution, demand for grade-A office and high-end retail space has fluctuated dramatically. As of the second half of 2013, a considerable percentage of the country’s high-quality commercial space had been recently vacated, according to data from the...

Aided in large part by preparations under way for the 2012 Africa Cup of Nations, Gabon’s construction sector has witnessed a boom in recent years. Construction has been at the heart of government plans for economic development, with the expansion of energy and transport infrastructure intended to help realise President Ali Bongo Ondimba’s...

Real estate activity in Gabon has decreased slightly since 2012, but remains on an upward path nonetheless, with demand across all market segments driving growth. High-end housing continues to be well received, and low-income housing is much needed. Recent government initiatives to cut back on red tape should help to speed up project delivery, which...