Patronage

HELD UNDER THE PATRONAGE OF HIS EXCELLENCY DR. MOUSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT

CONSTRUCTION PORTFOLIO OF EVENTS

25 - 27 June 2024

11 AM - 7 PM

Egypt International Exhibition Center (EIEC)

Egypt’s Construction Sector: Projected Growth of 7.5% in FY 2023/2024

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BMI Research, a company under Fitch Solutions, announced some positive news for Egypt's construction sector.

They predict that in the fiscal year 2023/2024, construction in Egypt will grow by 7.5%. That's a pretty significant leap, showing that things are on the upswing.

And it doesn't stop there - they're expecting even better growth of 7.9% in the following fiscal year, 2024/2025. That's a good sign for Egypt, especially when you compare it to other countries in the Middle East and North Africa (MENA) region.

 

 

BMI mentions that inflation could put a damper on things, especially in both residential and non-residential construction. With prices going up, it might make it harder for people to afford new homes or for businesses to invest in new buildings. Plus, high-interest rates might mean it's tougher for folks to get the money they need to start construction projects.

Fitch Solutions sees potential in the government's plans to privatize some parts of the infrastructure sector. This could bring in more private companies to help build and maintain things like roads, bridges, and utilities. It's a way to spread out the responsibility and hopefully get more projects done efficiently.

So, while there are challenges ahead, there's also a lot of opportunity. With the right planning and strategies in place, Egypt's construction sector could continue to thrive in the coming years.