Gaza real estate sector on the rise
The real estate sector in Gaza is booming in light of a fast-rising population and a small surface area, but will this spur benefit the government?
GAZA CITY, Gaza Strip — The real estate and residential construction sectors in the Gaza Strip are experiencing an economic recovery. After sustaining huge losses in the industrial sector following the 2014 Israeli war on Gaza, investors and others with capital are now investing sums significant enough to make these sectors the most profitable in Gaza, which is still reeling under a crippling economy stemming from the 10-year-long and ongoing Israeli blockade.
Osama Kahil, the Gaza-based head of the Palestinian Contractors Union, told Al-Monitor that the demographic increase in Gaza coupled with a halt in domestic factory production due to the blockade and successive Israeli wars on Gaza have led investors to pour their money into the construction of residential towers.
