Real Estate Business in Western Africa: Opportunities and Challenges
The real estate business in Western Africa has experienced significant growth over the past decade, driven by urbanization, economic development, and a growing middle class. Countries like Nigeria, Ghana, Ivory Coast, and Senegal are at the forefront of this boom, presenting both opportunities and challenges for investors, developers, and policymakers. Economic Growth and Urbanization Western Africa has seen impressive economic growth, with several countries recording substantial GDP increases. This growth is often fueled by natural resources, agriculture, and services. As economies expand, urbanization accelerates, leading to a higher demand for residential, commercial, and industrial real estate. Cities like Lagos, Accra, Abidjan, and Dakar are expanding rapidly, with new residential complexes, office buildings, and shopping malls springing up. The rising urban population, coupled with increasing disposable incomes, has led to a surge in demand for modern housing and commercial sp