Egypt Construction Market Intelligence Q1 2023
Record inflow of FDI and substantial support from regional developers underscores Egypt’s resilient real estate market.
- Mohamed Nabil
- Mohamed Tawfik MRICS
- Laura Morgan MRICS
Despite headwinds and economic turmoil associated with Egypt’s currency devaluation, the value of projects awarded in 2022 represented 21% of the total value recorded in the MENA region. The pace of investment is driving the development of the real estate sector as Egypt commences the development of 20 new cities while redeveloping some of its existing stock. Construction material prices are likely to continue to increase throughout 2023 on the back of further floatation of the Egyptian currency.
Our experts gathered market intelligence data from market sources including local contractors and supply chain to evaluate Egypt’s construction prospects, risks and factors impacting construction costs.