Egypt Construction Market Intelligence Q1 2024
Egypt’s USD 50 billion FDI accelerates construction activity in tourism and residential sectors
- Elaine O’Connor
- Ahmed Hemmat
- Laura Morgan MRICS
As the largest project market in Africa and the third largest in the Middle East and North Africa (MENA), the construction industry in Egypt is estimated to exceed 8% (compounded annual growth rate) until 2029, driven largely by increased government spending, active public-private partnerships, the rise of green buildings, a steadfast focus on infrastructure development, and continued investments in residential and mixed-use sectors.
Based on insights gathered from industry sources and experts, the report affirms that despite prevailing national and global economic challenges, Egypt holds a share of USD515 billion (12%) of the total pipeline value of unawarded projects in the wider MENA region, which is projected to reach USD 3.9 trillion. Taking up the third position in the MENA after Saudi Arabia and the UAE, Egypt’s residential projects make up around USD 36 billion (21%) of this share while mixed-use projects in the country account for USD 115 billion (22%).
This report provides updates on market trends, commodities, and their impact on construction costs in the Egypt.
