Egypt is one of the few projects markets in the Middle East and North Africa (MENA) region to have continued to grow over the past three years during a period of lower oil prices. Driven by strong economic and demographic growth, and a self dependence on gas, the country is going through a real estate boom.
Indeed, today Egypt is the second largest projects market in the region after the UAE, and bigger even than Saudi Arabia. The government is encouraging foreign investment and has made the development of transport infrastructure and affordable housing the main priority.
As such, demand on contractors and for construction materials is unprecedented as the projects supply chain rushes to keep up the rapid pace of development. Megaprojects like the new administrative capital and New Alamein City are themselves triggering a societal shift given their huge size and political significance.
Added momentum is also given by the dramatic political and economic changes Egypt went through over the past decade. The two revolutions and the devaluation of the Egyptian Pound slowed project development, with the effect that that the country is now making up for this lost time.
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“MEED Projects allows our sales team across the region to track upcoming projects quickly and efficiently, saving time and helping us to effectively target potential customers. It has certainly played a role in developing our market knowledge and it’s continuing to support rapid growth in the Aconex business.”ACONEX
“MEED Projects is an excellent tool for Ducab as it helps our sales department access updates on the latest GCC projects market in great detail. Their research team does a great job in keeping Ducab abreast with reliable information on movements in the projects from inception to completion.”DUCAB