The Global Construction Industry market reached a value of nearly $12,744.4 billion in 2019 (thebusinessresearchcompany.com) and it is expected to grow up to 15.5 trillion worldwide (ice.org.uk) globally. Zimbabwe is in a state of poor infrastructure, she imports some of the building materials and the number of people building their own houses is on the rise. The government’s support to tourism and hospitality, mining and agriculture all require modern infrastructure that entrepreneurs have to develop. All this, present opportunities that entrepreneurs can pursue in the construction sector.
One idea that is in the construction sector is on land development. This is when a construction company acquires land and changes its landscape, in this scenario for housing purposes. This might include developing the land and sell residential stands. This comes at a time when owning a stand is a symbol of success that many prides themselves in. The desire for a decent town life as one’s income increases has also led to a rise in demand of town houses in major cities.
The covid-19 regulations have spared the tourism sector, this makes it a lucrative sector that many entrepreneurs may want to establish their footprints in. This makes developing land into recreational centres a good idea to go for. There is a larger audience to target that ranges from children, youths, couples the elite and or the low to middle income families. There is need to add activities that are relevant to your target population and create an unforgettable experience in their lifetime.
With variations to location, renting out your house for accommodation may not be as returning as expected, which makes developing land into commercial stands or offices another brilliant idea. Investors now prefer investing in commercial buildings that might serve as retail space, fuel stations, warehouses, factories, office space only to mention a few. It is however good to put in consideration the change in trends of the demand on residential areas for office space to the CBD and the impact of covid-19 to office spaces
Project management, which is the art of directing and coordinating human and material resources through the life of a project is definitely a good idea one can pursue in the construction sector. This might include project handling in the major categories of the construction industry which are Commercial, Residential and Industrial. With a number of diasporians eager to build back home, with less stress in procurements, this can be a good market to target.
As Zimbabwe strives to upgrade its infrastructure, it might be a good idea to go for projects related to Industrial Construction. This will allow you to compete for tenders in Road Construction. Not only will you be limited to government tenders, but also construction of processing plant for manufactures and or mines, service stations and any form of structures that different industries require.
Zimbabwe also has a great potential for wind, solar, bio and hydro energy, hence need to incorporate the construction of renewable energy sources that includes hydro, solar, biomass and wind power plant. Read more renewable energy on the link below:
Dubai turned deserts and oceans into tourism desired destinations by a number of people from different nations. It capitalised on its resource base to invest in some returning mega-structure like the Burj Kalifa and the Palm Island. Well it wasn’t an easy job, but a number of construction companies made a lot out of it. There is need to eye for such an industry, Zimbabwe won’t be forever poor and it calls for preparations now, they is need to develop the Binga beach and other idle and unproductive land that may turn some rural areas into preferred tourism destination.
As one industry grows, a number of services become necessary. Zimbabwe has a number of minerals that are needed in the construction industry such as granite that can be used for both interior and exterior designs, feldspar, kaolin, Petalite and Silica Sands that can be used in the manufacturing of ceramics, oxides, mica, and silica sands that can be used in paint manufacturing.
With a lot of deposits of steel, nickel, copper and chrome Zimbabwe should be in a capacity to produce modern and luxurious gates, bathroom, taps and shower heads and any other accessories consumers would need.
With also the high demand in bricks, cement, sand, bulk water, timber, roofing material and any other materials that may be required in the construction industry, entrepreneurs can definitely find their piece of the cake in the manufacturing or retailing of these products.