Retail development offers retail spaces, which can be cyclical and involve multiple stages. Retail development which comes under the category of commercial real estate development can include new stores, shopping centers, or other retail spaces.
Retail development significantly contributes to the generation of tax revenue for the government. Through sales taxes, property taxes, and other levies, the retail sector becomes a reliable source of revenue for public services such as healthcare, education, and supports the overall infrastructure development market.
Why Buy or Invest in New Real Estate Developments in Senegal.
Senegal has experienced consistent economic growth in recent years, with infrastructure development, tourism, and mining playing significant roles. A growing economy creates a stable environment for real estate investments, with the potential for appreciation over time.
The Senegalese government has initiated several reforms to encourage foreign investments, including in real estate. Programs like the "Plan Sénégal Emergent" (PSE) aim to modernize infrastructure, making the country more attractive for development projects. The government is also making efforts to ease property ownership laws for foreign investors.
Tourism in Senegal is booming, with its rich culture, beaches, and historic sites drawing international visitors. With the government's push for tourism and hospitality growth, investing in real estate developments catering to tourists, such as hotels or vacation homes, can be lucrative.
For international investors, the Senegalese real estate market offers a way to diversify portfolios, with opportunities in both emerging markets and established sectors. This can reduce risk by providing exposure to a high-growth market.
