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Angola Terraced Housing Construction Industry Analysis
The terraced housing construction projects industry in Angola is a growing sector, with an increasing demand for affordable housing due to the country's rapid urbanization. The country's urban population has grown by over 50% in the last decade, resulting in a shortage of housing and a need for new residential projects.
The Angolan government has recognized the need for more housing and has implemented policies and programs to promote the development of affordable housing, including terraced housing projects. The government's housing policy aims to provide 1 million new homes by 2025, and this has created a significant opportunity for developers and investors in the terraced housing construction industry.
One example of a terraced housing project in Angola is the Kilamba New City project, located on the outskirts of the capital city of Luanda. The project was completed in 2012 and includes over 20,000 terraced housing units, along with schools, hospitals, and other amenities. The development was designed to provide affordable housing for low and middle-income families.
Another example of a terraced housing project in Angola is the Zango 5 development, located in the province of Luanda. This project is being developed by the Chinese construction company CITIC Construction and will feature over 8,000 terraced housing units, along with commercial and retail space.
Despite the growing demand for affordable housing, the terraced housing construction industry in Angola still faces some challenges. These include a lack of skilled labor, limited access to financing, and a lack of infrastructure in some areas. Additionally, the COVID-19 pandemic has had a significant impact on the industry, causing delays and disruptions in the construction process.
However, with the Angolan government's commitment to providing more affordable housing and the increasing demand for such housing, the outlook for the terraced housing construction industry in Angola is positive. Developers and investors in the industry have an opportunity to contribute to the country's economic growth while addressing the critical need for affordable housing.
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