South Africa Construction Analysis and Forecast Report 2023-2027: South African National Roads Agency SOC Limited Awarded 323 Road and Highway Tenders in FY 2022-23, a 168.2% increase Over FY 2021-22
The South African construction industry was expected to grow by 2% in real terms in 2023, following a 3.4% annual decline in 2022, aided by an increase in transportation developments and the execution of renewable energy projects, with the infrastructure construction sector expected to grow by 3.3% and the energy and utilities construction sector expected to grow by 2.7% in 2023.
In April 2023, the South African National Roads Agency SOC Limited (SANRAL) awarded 323 road and highway tenders in the Financial Year (FY) 2022-23, with a total value of ZAR59 billion ($3.5 billion), a 168.2% increase over FY2021-22.The South African construction industry’s output is expected to grow by 1.9% in 2024, before recording an annual average rate of 3.6% between 2025 and 2027, supported by the developments of transport, energy, industrial and housing projects.
As part of the latest budget released in February 2023, the consolidated government spending will amount to ZAR7.1 trillion ($424.4 billion) from FY2023-24 to FY2025-26. Of the total, the major allocations are ZAR233.1 billion ($13.9 billion) on road infrastructure, ZAR121.3 billion ($7.3 billion) for water infrastructure and ZAR45.9 billion ($2.7 billion) for housing infrastructure during the same period.
The report provides detailed market analysis, information and insights into the South African construction industry, including:
The South African construction industry’s growth prospects by market, project type and construction activity.
Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the South African construction industryAnalysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in South Africa, featuring details of key growth drivers.
Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sectorAnalysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.Listings of major projects, in addition to details of leading contractors and consultants
for more info, visit:
https://www.prnewswire.com/news-releases/south-africa-construction-analysis-and-forecast-report-2023-2027-south-african-national-roads-agency-soc-limited-awarded-323-road-and-highway-tenders-in-fy-2022-23–a-168-2-increase-over-fy-2021-22–302038189.html
