According to the recent GlobalData report, Algeria’s construction industry in 2023 will be driven by major ongoing projects in the residential, transport and renewable energy infrastructure sectors.
Besides energy, the other key sectors of the Algerian economy are construction, machinery and building materials. Following a period of fluctuating oil prices and the adverse impact of the Covid-19 pandemic, the current increase in hydrocarbon prices has brought clear signs of recovery (the state is estimated to have received energy revenues of around US $50 billion in 2022).
According to the recent GlobalData report, Algeria’s construction industry is expected to grow by 2.4% in 2023. Building production will be driven by major ongoing projects in the residential, transport and renewable energy infrastructure sectors.
In its 2023 budget, the government approved investments totalling 545 billion Algerian dinars ($3.7 billion) in housing, urban planning and urban development, 364.3 billion DZD ($2.4 billion) in public works and transport, 193.9 billion DZD ($1.3 billion) in electricity, gas and new energy projects, and 67.6 billion DZD ($453.6 million) in industrial development.
In March, the Minister of Housing, Urban Planning and City, Mohamed Tarek Belaribi, announced that the government was examining a proposal to increase financial aid for rural construction.