22 Sep 2019 - CAR (Bangui)
I am in Bangui in Central African Republic looking at the real estate market.
The city has an attractive setting with wooded hills to the east and to the south (Democratic Republic of Congo across the Oubangui River).
There has been little significant development in Bangui over the last 10 years or so. When I was first here the football stadium on Avenue des Martyrs was under construction and today the new BEAC HQ on Avenue de l’Independence is nearing completion (photo of BEAC is shown below).
Both the stadium and BEAC are Chinese-built, and the Chinese construction companies seem to dominate here in terms of State-sponsored construction, although the French group SATOM is also here. Much of the larger private development is Lebanese.
Construction is a challenge. Only sand and stone is available locally and otherwise materials need to be imported through the port at Douala (Cameroon). Allowing for customs clearance it can take around one week to bring materials here by truck.
As a result, construction costs are very expensive at an average for top quality of XAF 1.5 million /sq m. Also, it can take a long time to finish development - the BEAC HQ development timing is 40 months.
BEAC HQ on Avenue de l'Independence
View from Hotel Oubangui towards the city centre and river port (DRC to left)
Laico's Ledger Plaza Bangui
Tags: Central African Republic