Construction & Real Estate

In recent years the government has placed a strong emphasis on infrastructure and construction as a key engine of urban growth and financial stability. Although Covid-19 has halted progress on a number of upcoming projects, demand for housing and infrastructure should remain stable as the country’s population continues to rise. Longer-term growth is also likely to be fuelled by the growing trend of urbanisation, which is being supported by the government’s plans to develop new smart, environmentally friendly cities in an effort to double Egypt’s urban area from 7% to 14% by 2052. While demand for real estate is high, the sector is set to experience slowed growth in the near term as consumers choose to hold onto their cash. Nevertheless, government efforts to boost the mortgage financing segment may help stimulate demand. This chapter contains an interview with Magued Sherif, Managing Director, SODIC.