Market Snapshot: The Egyptian construction sector
Over recent decades, Egypt has seen substantial economic growth. In 2000, GDP in current prices stood at $104 billion. In 2022, it had more than quadrupled to $475 billion. Despite a likely drop in 2023 and 2024, the IMF forecasts GDP to rise again to nearly $600 billion by 2028. GDP growth is forecasted to strengthen from 3.6% in 2024 to more than 6% in 2028. Between 2024 and 2028, the IMF expects GDP per capita to grow from $3,300 to about $5,000.
Egypt is home to ongoing and upcoming construction projects worth approximately $ 500 billion. Of this amount, $160 billion represent projects in the feasibility stage, $30 billion is in the planning, design or qualification and bidding stages. The remaining $300 billion are projects under construction.
Egypt represents more than 60% of the combined project value within the North African region, far exceeding Morocco in second place with 18% and Algeria in third place (7%).
Building construction is the largest sub-sector, accounting for 36% of the value of all projects in the country. Energy/power follows with 30%, then transportation with 15%. Chemicals, water, hydrocarbons, and industrial projects account for the remaining 20% (approximately).
Egypt is home to several very large contractors. Orascom and The Arab Contractors currently lead in the value of projects awarded. Many of the largest developers are government entities such as The New Urban Communities Authority and the Egyptian Ministry of Electricity and Renewable Energy. The Abu Dhabi Future Energy Company is one of the largest foreign actors in the Egyptian construction sector.
If you would like to know more about the projects, organizations and key people involved in Egypt’s construction industry, visit our website www.abiq.io, and register for a free trial of our project tracking platform.
Meta description: The Egyptian construction sector is the largest in Africa. Huge projects in building construction, infrastructure and power are driving the country’s growth. Learn more about the projects, companies, and market statistics in this market snapshot.