International construction market survey 2016
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Around the globe<br />
Rwanda – Kigali<br />
Optimism abounds as new developments spur <strong>construction</strong> growth<br />
Economic outlook<br />
High foreign and public investment and strong export<br />
performance was at the heart of growth in Rwanda in<br />
2015. Growth was driven by strong activity in agriculture,<br />
<strong>construction</strong> and services. Inflation remains well contained,<br />
although the monetary stance remains accommodative,<br />
with higher than expected credit growth. Consumer prices<br />
increased 6.8 percent year-on-year in December 2015.<br />
Construction <strong>market</strong> and trends<br />
The Rwanda <strong>construction</strong> <strong>market</strong> is vibrant, with numerous<br />
office and mixed-use developments springing up across<br />
Kigali and the housing sector recording growth of 1.8<br />
percent in the first quarter of <strong>2016</strong>. Renovation works,<br />
low-cost housing and hotel and conference facility projects<br />
are being undertaken by development boards such as<br />
the Rwanda Housing Authority, while private sector<br />
investment is delivering large-scale mixed-use<br />
developments, such as the Century Park Hotel and<br />
Residences, Kigali Heights and the Kigali Business Centre.<br />
Future outlook<br />
Real GDP growth is expected to be in excess of seven<br />
percent per annum across <strong>2016</strong>-17, driven by foreign<br />
and public investment and strong export performance.<br />
However, mining exports are dropping due to lower<br />
prices and demand in export <strong>market</strong>s, and combined with<br />
US dollar appreciation this is putting strong downward<br />
pressure on the Rwandan franc.<br />
Numerous infrastructure projects will be important for<br />
<strong>construction</strong> industry growth, including road <strong>construction</strong><br />
works, a new peat power plant, and the <strong>construction</strong> of<br />
Bugesera Airport.<br />
<strong>International</strong> building costs per m 2 of internal area, in <strong>2016</strong><br />
RWF<br />
USD<br />
(exchange<br />
rate: 747)<br />
Airports (building only)<br />
Domestic terminal, full service 2,857,000 3,820<br />
Low-cost carrier terminal, basic service 2,040,714 2,730<br />
Car parks<br />
Multi-storey above ground 344,400 460<br />
Multi-storey below ground 436,800 580<br />
Commercial<br />
Offices – Business Park 722,400 970<br />
CBD Offices – up to 20 floors medium (A-Grade) 764,400 1,020<br />
CBD Offices – high-rise prestige 1,142,400 1,530<br />
Education<br />
Primary and secondary 504,000 670<br />
University 588,000 790<br />
Hospitals<br />
Day centre (including basic surgeries) 722,400 970<br />
Regional hospital 848,400 1,140<br />
General hospital (e.g. city teaching hospital) 1,276,800 1,710<br />
Hotels<br />
3 Star travellers 1,016,400 1,360<br />
5 Star luxury 1,276,800 1,710<br />
Resort style 1,260,000 1,690<br />
Industrial<br />
Warehouse/factory units – basic 294,000 390<br />
Large warehouse distribution centre 428,400 570<br />
High-tech factory/laboratory 1,276,800 1,710<br />
Residential<br />
Individual detached or terrace style house – medium standard 415,800 560<br />
Individual detached house – prestige 706,500 950<br />
Townhouses – medium standard 510,675 680<br />
Apartments low-rise – medium standard 561,825 750<br />
Apartments high-rise 595,650 800<br />
Aged care/affordable units 420,000 560<br />
56<br />
Turner & Townsend
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