Construction & Real Estate
From The Report: Ghana 2016
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Growing year-on-year as a contributor to the economy, Ghana’s construction sector is increasingly dynamic and led by private sector participants. While parts of the real estate market have slowed in recent years, demand for low-cost housing remains as strong as ever. Government investment is a major driver of growth, with a substantial pipeline of projects in transport infrastructure in particular expected to be rolled out in the coming years, often using public-private partnership models. Construction activity contributed $3.8bn to GDP in 2014 at current prices, according to the Ghana Statistical Service. This was equal to 12.7% of GDP and up 26.9% from $2.9bn in 2013. The sector has grown strongly over the past decade, up from $280.3m in 2006, and has become of increasing importance to the broader economy, more than doubling as a contributor to GDP from 5.7% in 2006.

Articles from this Chapter

Overview

A work in progress: New legislation and an investment drive will provide a boost
OBG
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Growing year-on-year as a contributor to the economy, Ghana’s construction sector is increasingly dynamic and led by private sector participants. While parts of the real estate market have slowed in recent years, demand for low-cost housing remains as strong as ever. Government investment is a major driver of the sector’s momentum, with a substantial pipeline of projects in transport infrastructure in particular expected to be rolled out in the coming years, often using public-private partnership…

Analysis

Tackling the shortage: The government is looking for alternative housing solutions
OBG
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Like many emerging markets with fast-growing populations, Ghana faces a housing shortage. It must tackle a crunch between a public sector with limited resources to provide social housing and a private sector that sees little profitably in such developments. Serious Deficit The figure most often quoted for Ghana’s housing deficit is 1.7m units, rising to 2m by 2018. The shortage has led to the growth of informal and slum housing in some cities, a reduced standard of living, and health and safety…

Overview

Property potential: The market is creating new opportunities
OBG
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As Ghana’s economy has garnered increasing international attention over the past few years, so has its previously rather overlooked real estate sector. Foreign investors have come in to finance office blocks, malls and residential development, bringing muchneeded modern property onto an undersupplied market. While the economic slowdown in 2014 and 2015 has had an effect on the market, economic and demographic fundamentals over the longer term are strong. Supply remains relatively tight in some…