Since 1953, when oil was first discovered near Port-Gentil, Gabon’s economy has been dominated by the petroleum industry. According to the BP “Statistical Review of World Energy 2012”, Gabon is the sixth-largest crude oil producer in sub-Saharan Africa and has the region’s fourth-largest proven reserves.
Globally, the process of urbanisation is undeniable and irreversible, and the phenomenon has had a particularly acute impact on Cairo, Egypt’s capital, as well as on the continent as a whole. According to the UN’s “State of African Cities 2010” report, the number of people in Africa’s urban areas will increase threefold over the next four decades,...
The long-term determinants of the real estate market in Cairo are governed by two main factors – the housing needs of the young and growing population, and the clogged, chaotic core of the city with its aging building stock. It has long been the case that Cairo cannot take the pressure of the millions who live and work there, and these factors...
Low-cost housing is an underserved real estate segment that is likely to get more attention in 2012 and beyond. This is where the bulk of demand lies, and was one of the sources of revolutionary fervour in January and February 2011. In addition to the resignation of Hosni Mubarak, the country’s former president, and his government, many protestors...
The long-term fundamentals in Egypt are very attractive in just about every sector, and construction is no exception. A demographic bulge and current needs mandate upgrades in housing stock, office towers, retail and commercial space, infrastructure and otherwise. The contracting market has two major players, one each in the public and private...
The aftermath of the resignation of Hosni Mubarak, Egypt’s former president, hit many sectors hard. Banks closed, tourists fled, stock trading halted and retailers were left with empty shelves. In the year and a half since, the country has begun to regain its economic footing, though it still grapples with weak growth, low foreign exchange reserves...
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