Benin City (Nigeria) Building Construction Industry (Databook Series) – Market Size & Forecast (2012 – 2021) by Value and Volume across 20+ Market Segments in Building Construction (Residential, Commercial, Industrial, Institutional by Key Cities), Key Trends, Drivers, and Risk Assessment
Nigerian real estate and construction segment’s contribution towards the country’s GDP has increased significantly over the years. However, growth has taken a back seat owing to negative growth between last quarter of 2015 and 2016 and has come to a sluggish growth in 2017. Large as well as small and medium construction companies have experienced slower growth rate during this time. The government owes more than US$ 2 billion to construction companies which has resulted in many projects being abandoned and mass lay-offs comprising of close to 10,000 workers.
Nigerian residential segment is expected to see a positive growth in 2017. However, it is fundamentally dependent on performance of the country’s economy. Demand, supply and price of space are subjected to fluctuations depending on the situation of occupiers, developers and investors. Improvement in trade relationship especially with China under new government leadership is expected to fuel investments in non-oil sectors. This is likely to drive requirement of office spaces for new players in 2017.
Though development for office spaces in pipeline is expected to slow down in Lagos in 2017, it will still continue to lead in this segment followed by Abuja and other tier 2 cities. Ikoyi is likely to become one of the prime office destination choice for many companies. Eko Atlantic is anticipated to experience greater demand in terms of office space requirement in current times. Retail business will require more office spaces in current times due to high consumer spending culture that is likely to influence retail business growth.
Building construction industry in Benin City is expected to record a CAGR of 2.2% to reach US$ 384.5 million by 2021, while in volume terms, it is expected to record a CAGR of 0.2% during the same period.
This report from ConsTrack360 provides market size and forecast in value and volume terms across 20+ construction markets in Benin City, tracking 50+ KPIs. It details market size & forecast, emerging trends, market opportunities, and investment risks in building construction industry.
• Benin City Market Data by Value and Volume: This report provides market size and forecast across 20+ construction segments for a period of 10 years from 2012-2021 in Benin City, both in value and volume terms.
• Benin City Residential Building Construction Coverage: 10-year market size & forecast in value and volume terms in Benin City by – housing type (multi family, single family), price point / income level (luxury, mid-tier, affordable), construction stage (new construction, re-development, maintenance)
• Benin City Commercial Building Construction Coverage: 10-year market size & forecast in value and volume terms in Benin City by – office building, retail building, hospitality and luxury building, restaurant, entertainment, sports facility, construction stage (new construction, re-development, maintenance)
• Benin City Industrial Building Construction Coverage: 10-year market size & forecast in value and volume terms in Benin City by – manufacturing plants, chemical & pharmaceutical metal & material processing, construction stage (new construction, re-development, maintenance)
• Benin City Institutional Building Construction Coverage: 10-year market size & forecast in value and volume terms in Benin City by – healthcare construction, educational construction, public convenience, construction stage (new construction, re-development, maintenance)
Reason to Buy
• In-depth Understanding of Construction Market Dynamics in Benin City: Understand market opportunity, industry dynamics, key trends and drivers across 20+ market segments and sub-segments of building construction industry.
• Volume and Value Data: Get detailed understanding of the market both from value and volume perspective for historical as well as forecast period in Benin City.
• Develop City Specific Strategies: Identify growth segments and target specific opportunities to formulate your strategy; assess market specific key trends, drivers and risks in Benin City’s construction industry.
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