SUDAN
Khartoum
SUDAN REAL ESTATE S
Despite ongoing political instability, the North African republic is proving attractive to Gulf investors
udan has been at war with itself for almost its entire post-colonial history, and conflicts between the predominantly Arab north and the
mainly Christian south continue today despite the 2011 referendum that caused the secession of South Sudan last July. Despite ongoing conflicts causing economic uncertainly, Gulf investors continue to show sustained interest in Sudan’s real estate sector. In 2005, Sudan implemented economic reforms which stimulated the Sudanese economy to become one of the fastest growing in the world. Historically, oil production has driven growth but the majority of the oil wells are located in South Sudan, while the pipelines and refineries are in the
north. However, the country’s largest industry continues to be agriculture which makes up almost 30 per cent of the economy. After the secession of South Sudan in 2011, present estimates of the population of Sudan lie at a little over 30 million people while the population of metropolitan Khartoum is growing rapidly and is recorded to be 5.2 million. Jones Lang LaSalle’s Global Real Estate Transparency Index (GRETI) charts the steady progress of real estate transparency in 81 markets across the globe. According to the JLL GRETI 2010, Sudan ranks among the least transparent markets along with Syria and Algeria.
28 I CITYSCAPE I MAY 2012
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