Since 2007 Ghana’s real estate market has continued to follow a cyclical trajectory, booming when headline growth is strong, but slowing in recent years in line with the commodity price drop in 2014. The sector is also affected by other pro-cyclical factors: as reported in the Bank of Ghana’s March 2017 “Monetary Policy Report”, the Ghanaian...
Ghana’s slowdown had a noticeable impact on the construction sector. However, its prospects appear to be brightening, with sizeable capital allocations in the government’s budget and growth of 3.7% targeted for the industry in 2017. New government initiatives and increased oil revenues are hoped to bring further opportunities for infrastructure and real estate projects, with a range of factory...
Since assuming power in January 2017 the administration of President Nana Akufo-Addo has moved to rein in fiscal spending, industrialise rural regions and improve the business environment in order to jump-start economic growth. The government has brought down the fiscal deficit and freed up capital spending for priority projects, and Ghana’s economic prospects appear strong for 2018.
After a slower period for developers, 2017 saw a wave of new mega-projects announced in the Kingdom, with cities including Taif, Jeddah, Makkah and Medina set to host new large-scale developments. The emphasis was on providing needed homes for the growing Saudi population and driving further economic diversification, with projects aiming to...
The year 2017 emerged as a bumper year for new openings in the hotel and leisure segment, as investors prepared for growth in visitor arrivals. Additional building and higher occupancy rates will be driven by efforts to ensure that the Kingdom can host a large number of pilgrims safely, combined with rising business travel as the economy...
After a period of stabilisation in which the government implemented a number of reforms, the real estate and construction sectors are preparing for the introduction of a range of projects under the Saudi Vision 2030 initiative. Lower oil prices and the resulting fiscal consolidation of the state cooled demand in 2016 and early 2017; however,...
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