Ivory Coast is one of the ten fastest-growing countries in the world and is literally under construction. The boom in the residential building and public work sector is forcing the country to import equipment, materials and services in large quantities.
Located in West Africa, Ivory Coast’s port is the largest in the region. The country has been growing at nearly 8% since 2012, with forecasts of around 7.3% until 2023, according to the IMF and other international organisations.
The building sector plays a key role in the economic growth to which it contributes significantly.
Absolutely, yes! How2Go West Africa is happy to confirm that there are more and more Spanish products on the Ivorian market.
If you want to know more about Ivory Coast, please don’t miss our following article: “Ivory Coast – Your Entry Port In West Africa” »
The building boom is visible in every corner of the country, particularly in Abidjan. The city concentrates nearly 25% of the population, nearly 80% of the country’s economic activity and 50% of the national GDP.
The 2017-2020 Priority Action Plan, adopted by the government, provides for the construction of 150,000 social housing units between 2017 and 2020. It includes, among the promotional measures, the possible exemption from customs duties on the import of equipment and materials provided by approved developers and builders.
Although the majority of buildings are still low-rise, the government is insisting on the need to build high to optimise the available land, which has already started to undergo speculation. Interestingly, it is the middle and upper classes who are most likely to choose to live in inner-city buildings, as we shall see in the next article in this series.
Abidjan, the economic capital city of the country gathers more than 5 million inhabitants and concentrates at least 60% of the activity in the sector. Among others, buildings, corporate and institutional headquarters, as well as the future exhibition and congress centre, business and tourist hotels, future airport city, etc.
In addition, the building boom is also noticed in other cities of the country such as Yamoussoukro (the administrative capital city), and Bouake (the second largest city with the construction of new universities, football stadiums forthe African Cup of Nations CAN 2023, and much more).
Two-thirds of the Ivorian population is under 25 years old. This represents a huge potential for growth and development for the country, as well as a strong need for housing and services of all kinds.
The Ivorian building sector is booming and rather well organised. It has various groups and associations, three specific trade fairs and two professional magazines. In addition, the country’s first school of architecture opened its doors three years ago, correcting the previous situation which required training abroad.
The holding of three building fairs in Abidjan testifies the great moment that this sector is experiencing in Ivory Coast:
Organised every other year, the previous edition was held in 2021. The show has five thematic areas which cover: building equipment and materials, equipment and technology, glass and metal, bathroom and toilet equipment, electricity and electronics, lighting, insulation, swimming pools, fencing, flooring, decoration, real estate development and architectural services. The exhibition also counts the participation of exporters from other countries.
One of the most significant current projects in Ivory Coast is the rehabilitation of the Bay of Cocody in Abidjan. There will be the construction of a marina, a shopping centre, a conference and concert hall, hotels, luxury housing, etc., with the support of the Kingdom of Morocco.
Ivory Coast is an agricultural country currently undergoing industrialisation and agro-industrial development which requires the construction of warehouses, processing, drying and storage plants, etc.
High demand and short maturation cycle – it doesn’t get any better than this! The demand is there, buying and selling as well. It’s important to adapt our offer to the needs of the market in order to shorten the lead times as much as possible.
If your company evolves in the construction sector and you are determined to expand your markets, don’t hesitate: the country offers you great opportunities.
Do you need more information? Please contact us: email@example.com and read the next articles in this series where we will share information on specific products and services that are currently in high demand by construction companies in Ivory Coast. We look forward to hearing from you!
Ivory Coast, it’s… now!