Egypt’s rapidly growing building and construction sector is expected to attract investments of around $7.3 billion by 2015, according to industry analysts.

The sector continues to uplift related industries such as cement, iron, furniture and electricity and has emerged as one of the country’s top revenue generators, said the organisers of Next Move, the leading real estate investment and finance exhibition in Egypt.

Non-residential construction will continue to dominate the industry and comprise up to $6.7 billion, with residential projects to account for $606 million.

Construction accounts for around 8 per cent of the total employment in Egypt, with about 100 different industries linked to the sector. The local construction workforce of around 1.2 million is currently the largest in the Middle East.

With its population growing at 1.9 per cent a year, Egypt is set to augment local housing construction even further. This, combined with government initiatives to enhance housing finance and higher disposable incomes, will continue to build up the residential segment, they said.

This year’s edition of Next Move will focus on attracting more foreign investments to balance the growth of residential and non-residential developments in the country. The trade show will take place from April 28 to May 1, at the Cairo International Convention and Exhibition Centre.

“For the past two decades Egypt’s construction sector has been constantly expanding to support domestic housing, infrastructure and industrial development,” said Ahmed Ghozzi, chairman, ACG-ITF, the organisers of Next Move.

Next Move’s inaugural run in 2008 featured Egyptian projects collectively valued at more than $25 billion, proving the country’s growing worth as a real estate business and investment destination. Last year’s edition welcomed 40 exhibitors and 20,000 visitors to 16,000 sqm of exhibition space.

The 2010 show will have a larger 25,000 sqm area, he added.-TradeArabia News Service