Egypt’s varied history, straddling multiple geopolitical and economic spheres, continues to shape the country’s development. However, this does not come without challenges. Food security uncertainty stemming from Russia’s invasion of Ukraine in early 2022 is a particular headwind, in combination with associated issues like inflation and foreign exchange risk. Moreover, 29.7% of Egyptians sti
During a time of heightened global macroeconomic uncertainty, progress on new cities and mega-projects has helped Egypt maintain positive economic growth during the pandemic. Demographic expansion has fuelled the need for infrastructure and urban expansion, creating significant demand for road, rail and utilities, as well as new housing and government facilities. At the same time, ICT infrastructure…
– Digitalisation is an increasingly important concept in the Egyptian construction sector – The government’s flagship smart cities programme could provide housing for some 30m people – Sustainability is growing in importance, not least in light of the upcoming COP 27 – Economic uncertainty could result in a delay in the uptake of sustainable principles Architects, property developers…
While the construction sector in Egypt was temporarily paralysed during the early months of the pandemic, the infrastructure project pipeline has remained robust. The need to boost utilities and transport capabilities has helped the sector continue to grow and evolve. The collaborative nature of local and international firms working on key projects has made Egypt's construction sector one of the…
On bolstering the strength and adaptability of Egypt’s construction sector In what ways has the company’s diversified portfolio contributed to its resiliency? SAYED FAROUK: Arab Contractors’ position as one of the oldest companies in the engineering, procurement and construction segment, as well as its diversified portfolio of construction and infrastructure works, has helped it remain resilient…
As the only country in the MENA region forecast to grow in 2020, the underlying demand driving the construction sector is set to continue thanks to the country's strong demographic fundamentals and positive macroeconomic outlook. In tandem with this, the country's overall fiscal and monetary response in combination of the successful completion of broad-based IMF-backed economic reforms have been…
Interview:Magued Sherif How are the development of new cities and demographic changes reshaping market demand and impacting real estate in existing cities? MAGUED SHERIF: People have been migrating out of the congested centre of Cairo for more than two decades. The new cities on the outskirts offer a greatly improved quality of life due to the planning that has gone into the development of…
The outbreak of Covid-19 in early 2020 brought disruption to all sectors of the economy, and the real estate market was no exception. While the full impact of the pandemic remains to be seen, the real estate sector is likely to experience difficulties in the shorter term as state funds are redirected to tackling the crisis. However, the government’s LE100bn ($6.2bn) stimulus package introduced…
In recent years infrastructure and real estate development have been important growth drivers for the construction industry, and the government has highlighted the need for private investment to take on a larger role in the sector. Indeed, much of the growth in construction activity has been accelerated by the private sector, as a result of the government’s economic and structural reforms…
Since the country embarked on an ambitious IMFbacked economic reform programme in November 2016 the government has placed a strong emphasis on infrastructure and construction as a key engine of urban growth and financial stability. In the FY 2019/20 budget LE140bn ($8.6bn) was earmarked to obtain new resources, develop infrastructure, and improve roads, electricity, water and sanitation networks.…