1- 3 October, 2019
King Fahd Palace Hotel | Dakar, Senegal
Senegal’s urban population is growing at a rapid rate, therefore creating an exponential need for new and affordable housing. Senegal’s capital city, Dakar, is increasing by 130,100 inhabitants annually.
The government through the Plan Senegal Emergent has put in the place diverse plans and strategies to solve housing deficit:
Increase access to housing, reduce the cost of rent, produce domestic construction materials, promote the start-up of national construction companies, make cities more attractive to develop their economic potential and improve the living environment and urban landscape.
The Government has undertaken to implement a policy to develop new urban poles and concerted development zones, these will primarily contain estate projects with a goal of achieving 27 poles throughout the territory with the development over 20,000 hectares.
The Emerging Senegal Plan has set out the ambitious target to build 15,000 housing units as well as simultaneously easing access to land ownership.
Senegal in the midst of a major building boom
Senegal especially Dakar, has been through a major building boom, caused by influx of international organisations (especially during the crisis in Cote d’Ivoire), expatriates and most importantly the rising Senegalese middle class.
Senegal, the ideal location to tap into a market of over 300 million consumers
This growing African middle class will lead to increased demand for solutions and products aimed at improving their homes and lifestyles.
Africa now has the fastest-growing middle class in the world. Some 313 million people, 34% of Africa’s population, spend USD 2.20 a day, a 100% rise in less than 20 years, according to the African Development Bank. Consumer spending by the middle class reached an estimated quarter of Africa´s GDP of US$3,359 billion in 2012.14 By 2030 this figure will likely reach US$2.2 trillion.