Wednesday 27 May 2020

Egypt top single projects market with $300bn developments

CAIRO, June 12, 2019

Egypt’s largest construction event, The Big 5 Construct Egypt, will return for its second edition to the Egyptian International Exhibition Centre (EIEC) in Cairo and will run from September 2 to 4, stated the organisers dmg events, a subsidiary of the Daily Mail and General Trust plc (DMGT).

It is being held in partnership between dmg events and ACG-ITF, a leading organiser of the largest international exhibitions in Egypt.

According to the report, Egypt is the only country in the region where overall spending on projects has grown during the past two years.

It has already overtaken Saudi Arabia as the second largest single projects market in the region, recording more than $33 billion of contract awards in 2018, stated the Egyptian Construction Market Report which has been released in partnership with MEED Projects.

In the backdrop of a successful launch in 2018, The Big 5 Construct Egypt will grow further spreading across 30,000 sq m and putting a stronger focus on infrastructure and construction to build the new Egypt, said the organisers.

"Egypt is in the midst of a construction boom," remarked Roni El Haddad, the event director of The Big 5 Construct Egypt, while commenting on the new Egyptian Construction Market Report.

“In total, more than $20 billion worth of real estate and civil infrastructure projects valued $50 million or above have been awarded over the past two years alone. The future looks even more promising," he stated.

"Egypt has well over $300 billion of known planned and un-awarded projects, which gives it a project pipeline larger than any other regional market after Saudi Arabia and the UAE," explained El Haddad.

“Construction is by far the largest future market in the country, with more than $120 billion worth of planned projects and growing. The time to invest in the Egyptian construction market is now,” he added.

Strong economic performance, population growth and a construction-focused government, which is prioritising delivery of projects and industrialisation, are among the key ingredients to the sector’s expansion.

"These factors create the perfect ground for a sustainable construction boom for years, if not decades, to come," stated El Haddad.

Some of the major active construction projects in Egypt include the new Administrative Capital to the East of Cairo, the huge New Alamein City on the North Coast, the new Egyptian Grand Museum, a host of new hotel and tourism developments, and the expansion of the existing Cairo metro network, he added.

In order to match the expanding requirements of the Egyptian construction and infrastructure sectors, The Big 5 Construct Egypt is launching new dedicated product sectors in 2019, said the event organisers.

The Windows, Doors & Facades, Concrete, Form Work & Scaffolding, Infrastructure Systems and Services, and HVAC-R Egypt will be introduced for the first time next to MEP Services, Construction Tools & Building Materials, Building Interiors, Finishes, Hardware & Accessories, and Construction Technologies & Innovations.

Also, more than 50 CPD certified educational seminars will be offered for free to professionals attending the event this year, with the aim of supporting the development of the Egyptian construction sector.

“We have identified eight themes for our 2019 education agenda, which will focus on Urban Planning, Architecture & Design, Building Envelope and Facades, HVACR & MEP, BIM & Project Management, Concrete, Infrastructure & Transport, and Women in Construction,” stated El Haddad.

“Experts in these fields will share insights and best practices, providing attendees with the tools and knowledge needed to advance their careers and the whole industry.”

The Big 5 Construct Egypt is part of The Big 5, the largest portfolio of construction industry events in the Middle East, which includes the biggest construction exhibitions organized in leading markets such as the UAE, Saudi Arabia, Kenya and South Africa, among others.

The Big 5 Construct Egypt’s second edition in Egypt is bringing together more than 300 Egyptian and international exhibitors of construction products, materials and solutions, along with over 13,000 visiting industry professionals.

The event is supported by Quali Middle East Association (QMEA), as official Knowledge Support Partner.-TradeArabia News Service


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