Eswatini's construction sector has experienced a remarkable surge in the 2025/26 financial year, with the registered project value increasing by 296.6% to E11.24 billion. This significant growth is attributed to major infrastructure investments and a shift from a previously slow project pipeline towards active implementation. The sector's expansion marks a substantial acceleration in construction activity, emerging as a crucial contributor to economic growth during the second half of 2025.
According to the Eswatini Construction Industry Performance Report 2025/26, the total registered project value increased from E2.83 billion in 2024/25 to E11.24 billion during the financial year under review. The Construction Industry Council (CIC) attributed the expansion to a concentrated pipeline of high-value investments. The report describes the growth as a period of strong cyclical expansion, with construction activity supported by large-scale infrastructure developments.
The structure of the industry remained heavily concentrated in large projects, with Foreign Works accounting for 54.5% of the total registered project value. Foreign Works increased dramatically from E16.92 million in 2024/25 to E6.13 billion in 2025/26, representing a year-on-year increase of 36,120%. This indicates a significant concentration of high-value projects undertaken by foreign contractors.
The CIC report highlights that foreign contractors are particularly prominent in high-value and technically complex projects, reflecting capacity gaps within the domestic construction industry. Civil construction also remained a major component of the market, with General Civil Works accounting for 26.5% of total project value, rising from E1.83 billion in 2024/25 to E2.98 billion in 2025/26, an increase of 63.2%.
The expansion was also strongly associated with public-sector investment, with parastatal projects accounting for 59.8% of registered project value in 2025/26, up from 40.9% in the previous year. Government projects contributed another 20.4%, compared with 9.8% previously. Combined, government and parastatal projects accounted for 80.2% of total registered project value, compared with 50.7% in 2024/25.
Private commercial projects increased in absolute value from E1.34 billion to E2.15 billion, but their share of the overall market fell from 47.2% to 19.1% because public-sector investment grew at a much faster pace. Private residential construction recorded a contraction, with project value declining by 52% from E48.59 million to E23.15 million and accounting for only 0.2% of total project value.
The construction boom was also accompanied by a sharp increase in specialised construction activity, with the value of specialised works rising by 398.8%, from E48.77 million in 2024/25 to E243.30 million in 2025/26. Building Specialist Works accounted for 42.7% of specialised works value, followed by Civil Specialist Works at 27.9% and Mechanical Specialist Works at 21.8%.
Key points
- Eswatini's construction sector grew by 296.6% in 2025/26, reaching E11.24 billion.
- Foreign Works accounted for 54.5% of the total registered project value.
- Public-sector investment drove the growth, with government and parastatal projects accounting for 80.2% of total registered project value.
