Industrial real estate has been a mainstay of economic development for decades. Over time, industrial developments have shifted from areas like 6th of October City to large-scale zones that host one manufacturing segment – for example, the $2.2bn textile complex in Al Sadat City. In 2014-21, 17 such complexes in 15 governorates were established, with LE10bn ($835.4m) worth of...
While the Covid-19 pandemic put pressure on real estate sales after a partial lockdown in early 2020, the sector has demonstrated resilience over the medium term. According to the Aqarmap Egypt Index, in March 2020 real estate demand fell by a record 29.6% to 1936 points, the lowest level since the Egyptian pound was floated in 2016. However, by March 2021 demand had recovered...
In early 2021 the government launched a slate of major projects to help bridge Nigeria’s infrastructure gap. In support of this, the country’s leaders created the Infrastructure Corporation of Nigeria, or InfraCorp, in February of that year: a public-private fund to finance critical infrastructure such as railways and roads. The construction...
After growth of 1-2% per year between 2017 and 2019, in 2020 the Nigerian construction sector contracted for the first time since 2016, when the economy last entered a recession. The government launched the Economic Recovery and Growth Plan (ERGP) 2017-20 at that time to reinvigorate the economy by prioritising infrastructure investment, among...
Nigeria’s real estate sector experienced a challenging 2020 in line with broader economic trends, characterised by a drop in demand, movement restrictions and global supply chain disruptions associated with the Covid-19 pandemic. The health crisis resulted in various negative effects across almost all real estate segments: commercial...
Even as the authorities work to create more opportunities for Nigerians to own affordable homes, mortgage penetration continues to be low. The ratio of outstanding mortgages to GDP was 0.5% in 2020 – up from 0.2% in 2019 – compared to 18.9% in Namibia, 16.2% in South Africa, 10.2% in Tunisia, 2.2% in Kenya and 1.6% in Ghana, according to the...
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