BMI View: The Namibian construction market is forecast to grow by 4.8% in real terms over our 10-yearforecast period between 2017-2026. The main drivers of growth will be transport and power infrastructureprojects as the government works to improve the overall operating environment, and real estatedevelopment in tandem with strong tourism arrival growth. Government spending will drive forwardsmaller developments, while limited private sector involvement means we have not factored into ourforecast more ambitious, big-ticket projects.
Forecast & Industry Developments
Latest historical data shows the Namibian construction grew 33.7% in real terms in 2015. Early economicindicators show a sharp slowdown in industry growth in 2016 as several infrastructure projectsconcluded, which informs our estimate of 8.5% real growth in 2017, unchanged from previous quarters.