The Egypt projects market continues to go from strength to strength. It was the only major economy in the MENA region to have registered GDP growth in 2020 and an increase in the value of awarded projects year-on-year.
There’s no secret behind its success. With the population growing by 2 million every year, the government has had little choice but to invest in social infrastructure and upgrade the country’s ageing transport infrastructure. Massive infrastructure projects like the $4bn-plus high-speed railway project linking Ain Sokhna with the new El Alamein city, the modernisation and expansion of the Cairo metro, and of course the new capital to the west of Cairo symbolise the government’s total commitment to putting construction at the heart of its agenda.
It has been robustly supported by the private sector. New real estate schemes catering to the burgeoning middle class population are springing up around Cairo providing another boost to the construction sector.
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 H2 2021 is the update to this year’s H1 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 (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.
I am certain that this report can help you achieve success in Egypt.