Egypt continues to be one of the few projects markets in the Middle East and North Africa (MENA) region to have continued to grow over the past three years during a period of lower oil prices. This thanks mainly to strong population growth, recent gas finds, and a government firmly focused on infrastructure investment.
This is underlined by the market’s 2020 performance. Despite the impact of COVID-19, contract awards at $15bn were more or less flat year-on-year. While other markets such as the UAE and Saudi Arabia saw a very substantial fall in activity, the strength of the Egypt market made it much more resilient to short term challenges caused by the pandemic.
Much of this is due to the government’s ongoing commitment to building new infrastructure, focused in particular on the new administrative capital and other new cities in the country such as El Alamein. With a population growing by 2 million a year, Cairo has little choice but to maintain rapid progress in project development.
Looking further ahead, the outlook for the local projects market is optimistic. Chinese investment will play a key role, but foreign investment in general will be central to success of the market going forward. This is in turn will require political and currency stability and a continuing commitment from the government to ensure Egypt remains attractive and open to foreign investment.
Egypt Projects H1 2021 is the update to last year’s report. Focused on data, it is aimed at helping companies create strategies for targeting and growing the market. It uses almost exclusively data from MEED Projects, the region’s leading online projects tracking service. With 15,000 active projects tracked and more than 35,000 in total in the database, MEED Projects makes it possible to quantify current, historical and future trends in the projects market in the region.
I am certain that this report can help you achieve success in Egypt.