Are Real Estate Mega-Projects Really Solving Housing Problems or Creating New Ones?

ESV Mark Anukwu,

Across many developing nations, especially in Africa and Asia, governments and private developers have turned to mega real estate projects as a solution to growing urban housing demands. These projects often boast thousands of housing units, expansive infrastructure, modern amenities, and the promise of transforming urban living. On paper, they appear to be a bold answer to housing deficits. But in practice, the results are far more complex and sometimes troubling.

Real estate mega-projects are typically marketed as visionary developments, meant to decongest overcrowded cities and provide affordable housing for the masses. However, many of these projects end up serving a demographic that was never really part of the housing crisis in the first place. Units are often priced far above what the average low- or middle-income earner can afford. In such cases, these developments risk becoming ghost towns occupied not by residents in need but by speculators and investors holding properties as assets.

The core of the problem lies in the mismatch between supply and actual demand. Housing needs are not just about the number of units built; they’re about accessibility, affordability, and livability. Building 10,000 homes that low-income families cannot afford does little to address a housing crisis. In fact, it can make the situation worse by diverting attention and resources from smaller, community-based housing solutions that might be more sustainable and impactful.

Another concern is that many mega-projects are located far from economic centers, public transportation, and social infrastructure. This forces residents to travel long distances for work, education, or healthcare if they move in at all. Without careful urban planning, these projects can become isolated pockets of concrete, disconnected from the cities they were meant to support. In some cases, the rapid construction of these large-scale developments also leads to environmental degradation, displacement of local communities, and the loss of agricultural land.

There’s also the question of sustainability. Some mega-projects are built with speed and scale in mind but without adequate attention to long-term maintenance, green building practices, or community development. Once the initial hype fades and the developers move on, residents may be left with deteriorating infrastructure and unmet promises. Without strong governance and accountability, such projects risk turning into urban failures rather than success stories.

This is not to say that mega-projects are inherently bad. When thoughtfully planned and inclusively designed, they can create opportunities for housing, job creation, and economic development. Countries like Rwanda and Ethiopia are beginning to experiment with integrated urban developments that combine affordable housing with transport links, green spaces, and commercial hubs. The key difference is that these models prioritize people, not just structures.

To truly solve housing problems, a more balanced approach is needed, one that includes smaller-scale developments, support for informal housing upgrades, rental options, and partnerships with cooperatives and community groups. Housing is not just about numbers; it’s about creating inclusive, functional, and dignified spaces where people can thrive.

Ultimately, real estate mega-projects should be seen as part of a larger puzzle not a silver bullet. The real measure of success isn’t the height of the towers or the size of the estate, but how well they serve the people who need homes the most.
ESV Mark Anukwu, an Estate Surveyor and Valuer is the Head of Practice of Mark Anukwu and Company, a leading firm of Estate Surveyors and Valuers