Senegal: real estate, the driving force behind economic recovery

On Monday evening, during the launch of several projects in Dakar, construction industry stakeholders called for concerted action between the government, investors and developers to strengthen the economic and social impact of the real estate sector.

Long hampered by financial and structural constraints, Senegal’s real estate sector is showing encouraging signs of recovery. At the commercial launch of several real estate projects in Dakar, the Teyliom Group called for collective action by public and private stakeholders to sustainably revive a sector that accounts for nearly 25% of the country’s GDP.

Presenting projects located notably at the Divinité roundabout and on the Dakar coast road, the group’s managers emphasised the economic significance of real estate, which extends far beyond the mere construction of housing.

‘When concrete is doing well, everything is doing well,’ summarised Souleymane Diallo, Managing Director of the group, highlighting the knock-on effect of the sector on the entire ecosystem, from design offices to subcontractors and informal employment.

After several months marked by the shutdown of numerous construction sites, the gradual resumption of activity is seen as a strong signal. ‘The restarting of cranes is a clear indicator: the economy is beginning to breathe again,’ he said, calling on authorities, investors and developers to ‘push in the same direction’ in order to consolidate this emerging momentum.

For industry players, this recovery also involves strengthened dialogue with the State and the activation of institutional levers that are still under-exploited, in particular the Caisse des dépôts et consignations, considered strategic for the long-term financing of housing and urban infrastructure.

In Dakar, the Teyliom Properties group set the tone during the commercial launch of its collection of projects called The Four Signatures, presented as a signal of confidence and revitalization of a key sector of the national economy.

Led by four residential projects — Lynea, Divinity, Shiramba 2 and Coralie — this initiative is part of a long-term vision to make real estate a driver of growth, urban structuring and value creation. “The relaunch of this type of project should be seen as a stimulating moment for the economy and for the entire ecosystem,” emphasized Souleymane Diallo.

Located in strategic areas, the projects illustrate this ambition. Lynea, situated on Avenue Cheikh Anta Diop in Dakar, offers a contemporary residence designed to meet the demands of the urban heart.

Divinity, developed in Mamelles, opposite the Mosque of Divinity, focuses on elegant architecture in dialogue with its natural, cultural and spiritual environment.

In Diamniadio, Shiramba 2 supports the growth of the new city with affordable housing for families, working people and investors.

Finally, Coralie, located on the Corniche Ouest, stands out with its high-end beachfront offering, including apartments, duplexes and a penthouse with terraces and private pools.