Egypt’s construction sector will become largest in MENA by 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 percent 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 $ 89 billion from a current $25 billion:

The sector’s value will more than triple to $ 89 billion from a current $25 billion 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.