Egypt is 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. Driven by strong economic and demographic growth, and a self dependence on gas, the country is going through a real estate boom.
Indeed, today Egypt is the second largest projects market in the region after the UAE, and bigger even than Saudi Arabia. The government is encouraging foreign investment and has made the development of transport infrastructure and affordable housing the main priority.
As such, demand on contractors and for construction materials is unprecedented as the projects supply chain rushes to keep up the rapid pace of development. Megaprojects like the new administrative capital and New Alamein City are themselves triggering a societal shift given their huge size and political significance.
Added momentum is also given by the dramatic political and economic changes Egypt went through over the past decade. The two revolutions and the devaluation of the Egyptian Pound slowed project development, with the effect that that the country is now making up for this lost time.
Egypt Projects Report H1-2019 is the update to last year’s popular report. Focused on data, it is aimed at helping companies create strategies for targeting and growing the market by providing quick and easy use data snapshots. It uses almost exclusively adjusted data from MEED Projects (www.meedprojects.com), 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.