Several years of instability have brought difficulties for Egypt’s economy, although the impact has varied across sectors. However, the country is experiencing a recovery, with the IMF estimating that GDP will increase by 5.5% in 2019, up from 5.3% in 2018. The construction industry is poised to remain one of the most dynamic sectors of the economy. This has been apparent in an increase in the number of large-scale projects involving transport, energy, utilities and urban development.…
Construction & Real Estate
From The Report: Egypt 2019
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The construction industry is poised to remain one of the most dynamic sectors of the economy. This has been apparent in an increase in the number of large-scale projects involving transport, energy, utilities and urban development. This ongoing burst of construction activity is part of an effort to address infrastructure gaps, and improve Egypt’s standing among domestic and international investors. On the other side of the spectrum, real estate developers have been able to adapt their offers to the new needs of Egyptian buyers, and have progressed with ongoing plans for housing, office space and new retail areas. Efforts to construct new cities and the New Administrative Capital are also driving innovation within the sector. Even with a long list of construction projects in the pipeline a significant amount of attention and resources in the sector will be directed towards housing and other real estate developments in the near term. This chapter contains interviews with Hassan Allam, CEO, Hassan Allam Holding; and Ahmed Zaki Abdeen, Chairman, New Administrative Capital for Urban Development.