The real estate sector accounted for 21.7% of total construction projects within West Africa, according to data compiled by Deloitte for its 2016 Africa Construction Trends Report. In this year’s edition, Deloitte tracked 286 construction projects across various sectors (transport, energy & power, real estate, oil & gas, shipping & ports etc) in Africa which had broken ground by 1 June 2016 and was valued at US$50m or above. The 21.7% noted for the real estate sector is a significant increase to the 8% noted in 2014 and 2015, as the firm noted a larger number of commercial property projects during the period. The Transport sector continued to have the highest concentration of projects, representing 33.7% of total projects.
As a region, West Africa had the most number of projects with 92 projects and also the most in terms of value at US$120bn. However, South Africa was the single country with the largest number of projects (41) followed by Nigeria (38).
Read the report on the Real Estate Report Centre.