Housing & Construction Nepal 2024 and Safecon 2024 have been inspired by the enormous size, growth and potential of the housing, construction and infrastructure sector in Nepal. At the same time, there is a tremendous need for a structured marketing system such as an expo that is professional and effective in facilitating the growth of these industries in Nepal.
While there will always be fluctuations in the housing market, the trend has always been bullish and is simmering towards a big boom pressured by the suppressed demand during the covid-19 pandemic period! According to the Nepal Land Housing Developers Association (NLHDA), the annual demand for houses in Nepal is 140,000 units while Nepal is only able to build about 25,000 units per year.
As per the 2011 census, urbanization in Nepal is expanding at the rate of about 6.67 % annually and 42% of that transformation is happening in the Kathmandu valley. A recent Central Bank of Nepal statistics shows that Kathmandu Valley’s property value has been increasing at a rate of 27.7 annually.
As per Central Bank of Nepal (2018), there has been an investment of more than NRs. 88 billion in the real estate and housing sector. Furthermore, Central Bank of Nepal estimates that housing sector contributes 8 % of Nepal’s GDP. Likewise, NLHDA confirms that the investment in housing accounts for 15-35 % of the country’s total investment.
Housing sector goes hand in hand with the construction sector although infrastructure is a significant part of the construction industry. The business opportunity that the construction industry provides is huge by all means. Nepalese construction industry contributes about 10 to 11 % to national GDP and it uses around 35 % of Nepal’s government budget and 60 % development budget.
The construction industry output is estimated to be about NRs 500 billion a year and is growing at 9% per year on average. The construction industry is expected outperform its pre-pandemic record in 2024 as the construction supply chain regain its momentum. Nepal will be completing the backlog of unfinished business of reconstruction. It is estimated that about 30 to 40 % of the households eligible of government support for reconstruction will go into completion in 2023-2024.
Proliferation of hydro-power projects in both the public as well as the private sector has been further energized by recent purchase deals with India and Bangladesh. Thanks to new technologies, rural municipalities along with their urban counterparts have been aggressively embracing infrastructural development, especially in road construction. About 22 National Pride projects are in construction or waiting to go into construction. Foreign aid funded infrastructure projects such as MCC Compact Nepal will further fuel the construction growth in coming years.
Thus, Housing & Construction Nepal 2024 and Safecon 2024 will professionally and effectively meet the challenge of facilitating the housing, construction and infrastructure market as the final clearing house of market information and business exchange.