Construction & Real Estate
From The Report: Cote d'Ivoire 2020
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The construction of numerous large infrastructure projects has contributed considerably to economic expansion since 2012. The sector’s dynamism has attracted international companies, particularly Chinese firms, which have completed several projects in transport, logistics and energy. With major infrastructure projects nearing completion and others under way, the construction and public works sector is likely to remain a key contributor to the economy in the medium term. Activity has also benefitted from a real estate boom, with many new properties in the pipeline, especially around Abidjan. However, since the government is increasingly looking to private funding to realise its construction and real estate ambitions, delayed investment due to the Covid-19 pandemic may impede meeting targets in 2020. This chapter contains interviews with Bruno Nabagné Koné, Minister of Construction, Housing and Urban Planning; and Clyde Fakhoury, CEO, PFO Africa.

Articles from this Chapter

Overview

Evolving strategy: Building on strong public infrastructure investment, the state is looking to bolster growth by attracting private funding
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The construction of numerous large infrastructure projects has contributed considerably to economic expansion since 2012. The sector, still mostly driven by public investment, has witnessed significant growth in recent years; its dynamism has attracted international companies, particularly Chinese firms, which have completed several important projects in transport, logistics and energy. Activity has also benefitted from a real estate boom, with many new properties in the pipeline, especially…

Interview

Open house: Bruno Nabagné Koné, Minister of Construction, Housing and Urban Planning, on initiatives to reduce the housing deficit
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Interview:Bruno Nabagné Koné What successes has the Presidential Housing Plan seen since its establishment? BRUNO NABAGNÉ KONÉ: The results are not what we expected. Originally, the ambition of the Presidential Housing Plan was to build 60,000 homes, which was later increased to 150,000 homes. As it stands, we have only completed 10% of this goal, but we are organising ourselves to catch up as quickly as possible. My priority is to restart this programme, as it has developed very slowly…

Interview

Reaching out: Clyde Fakhoury, CEO, PFO Africa, on how the sector can enhance regional integration and ensure sustainable growth
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Interview:Clyde Fakhoury In what ways can sustainable urbanisation be ensured in a city as densely populated as Abidjan? CLYDE FAKHOURY: There is no doubt that Abidjan is facing major demographic challenges such as traffic congestion, the saturated housing market, the exploitation of natural resources and development of the outskirts of the city. In recent years a series of measures have been implemented to improve the city and guarantee a lasting living environment. These included the paving…

Overview

Place to call home: A shortfall of affordable housing remains, despite a large number of commercial projects coming on-line in recent years
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Although construction of a wide range of commercial units and high-value projects have been completed since 2011, there is a housing shortage of 400, 000-600,000 units across the country, with around 200,000 of these in Abidjan alone. As the population and urbanisation rates grow, demand for housing is rising by an estimated 40,000-50,000 units per year. Sector Performance Since 2011 real estate demand has risen dramatically due to a growing middle class, an influx of expatriates and the…

Overview

Urban adaptation: Rapid urbanisation and young, growing populations put pressure on emerging markets to solve housing deficits – Cote d’Ivoire
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Urbanisation is a mega-trend redefining contemporary life in both developed and emerging markets across the world. According to the UN, in 1950, 751m people lived in urban areas; however, by 2018 this number had risen to 4.2bn, equivalent to roughly 55% of the world’s population. By 2050 the UN estimates that this figure will rise to 68%. This growth is likely to be disproportionately concentrated in the developing world, with high rates of population growth and urban expansion in sub-Saharan Africa, the Middle East and Asia. China, India and Nigeria alone are expected to account for 35% of urban population growth between 2018 and 2050.…