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Sunday, 7 June 2020

Egypt’s construction sector to top the region in 2029 -Fitch

Egypt’s construction sector will become the largest in the region by 2029 in terms of value, Fitch Solutions’ BMI research said in a report summed up by cabinet’s Information and Decision Support Center (IDSC). The sector is projected to grow 9% on average between 2020 and 2024 after a short-term slowdown due to the pandemic. A large part of this will be driven by active public-private partnerships and an expansion of green building, BMI said.

The sector’s value will more than triple to USD 89 bn from a current USD 25 bn before the decade is out, and account for 30% of the entire region’s construction market, BMI expects. Egypt’s construction sector is currently ranked second in the MENA region, trailing only slightly behind the UAE, the IDSC said.

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