FINANCIAL NEWS

Egypt set to attract $7b construction investments

21 Apr 2010

(MENAFN) Egypt’s building and construction industry is expected to attract investments of nearly $7.3 billion by 2015, TradeArabia reported.

Industry analysts expect this rapidly growing sector to continue to expand through the next five year, with non-residential construction to continue to dominate the industry and comprise up to $6.7 billion, and residential projects to account for $606 million.

In Egypt, construction accounts for nearly 8 percent of the total employment, with about 100 different sectors linked to this industry. Egypt’s local construction workforce of about 1.2 million is currently the largest in the Middle East.

Industry analysts expected a further augment in the country’s local housing construction, citing the growing population at rate of 1.9 percent a year.

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