With more than 1,400 active construction projects worth $348.2 billion in Egypt, the country is going through a phase of economic prosperity across the board and especially in the construction sector, said a report ahead of The Big 5 Construct Egypt expo.
Last year, Egypt’s construction market output recorded a 10 per cent growth, as opposed to an average annual growth rate of 5.3 per cent over the previous four years, stated the report by BNC.
The report entitled “Urban Construction in Egypt” complements the arrival of The Big 5 Construct Egypt event in the country.
Of the $348 billion worth of projects coming up in Egypt, the most notable are $3.8 billion-Mountain View iCity in New Cairo and $3.7 billion-Citadel Refinery in Cairo, it stated.
Over 68 per cent of projects, with a combined value of $142 billion are in their advanced stages of development, while an estimated $178.4 worth of projects are in their early stages highlighting the projected growth of construction in Egypt, the report added.
