This is a best prospect industry sector for this country. Includes a market overview and trade data.
The construction sector in Egypt shown strength in the last 10 years. The sector is projected to grow 9% on average between 2020-2024 after a brief slowdown because of the COVID-19 outbreak. This growth will be driven mainly by active public-private partnerships and green building expansion to increase energy efficiency and high-end infrastructure. The real state sector has always been considered as a safe haven investment for most Egyptians as it has maintained value and even increased. The Egyptian government is a massive investor in the construction sector. For example, the Government of Egypt is building a massive “New Administrative Capital” 35 KMs East of Cairo. The first phase of the project, which includes all government cabinet ministries and authorities is almost complete and the government is expected to move early by 2021. The government is also upgrading airports, ports, and transportation networks and has plans to build up to 14 new smart cities throughout the country.
The New Urban Communities Authority (NUCA) has plans to build additional new cities, that include schools, hospitals, shopping centers, and entertainment facilities. This authority is responsible for developing these new cities and connecting them to the already existing infrastructure.
NUCA is encouraging private investors to participate in the development of these new cities and by providing the basic infrastructure to make the cities attractive to investors. Leading Sub-Sectors
Best sales prospects include, but are not limited, to the following categories:
- Project consulting
- Project Management
- Construction Equipment
- Construction material
- Construction Chemicals
Currently, both residential and retail subsectors are witnessing significant growth. As a result, the sector is expected to offer many opportunities for companies in the construction sector. The government is also participating in this boom by building affordable houses to the citizens and reconstructing the slums that have widely spread around the different cities. It is one of President’s El-Sisi’s priorities is to re-build these unplanned, overpopulated neighborhoods. These projects are managed under the affordable housing program.
Similarly, high-end housing compounds have also expanded in new suburbs around the Greater Cairo and the Red Sea and Mediterranean coasts. These coastal developments with their luxury developments are attracting GCC investors.
The retail sector has also witnessed a boom as new malls are mushrooming around Egypt.
- Ministry of Housing, Utilities and Urban Communities
Commercial Specialist in charge of the oil and gas sector: Mrs. Rania Mekhail