Framework and Value Drivers for Real Estate Development in Sub-Saharan Africa

Since the mid 1980s,Tanzania has been implementing policy and structural reforms, which have created a conducive environment for private sector and foreign investment growth. Although the last three decades of economic reforms have witnessed a surge in commercial real estate development projects especially in large urban centres, the sector has not been growing at a pace that is economically justified. The slow pace of the sector's growth is partly due to its inability to exploit the value drivers which create competitive advantage. Tanzania's real estate sector has been analysed based on Porter's competitiveness model and Poorvu's and Cruikshank's model. Modifying the two theoretical models, the book comes up with a tailored competitiveness model and development framework for the real estate sector suitable for the setting obtaining in Tanzania. The proposed models could also be applicable to other countries with similar business environment to that of Tanzania. Owing to the infancy of the Tanzania real estate market, there are still many problems hindering the sector's growth and its chances of achieving competitiveness. Realisation of the sector's full potential requires real estate developers and investors' objectives and motivations to be aligned with the sources of competitiveness. This book is a first step in establishing a benchmark for Tanzanian's and other sub-Saharan Africa's real estate markets' research in the area of competitiveness.