Exports of the building materials industry reached nearly $6.9 billion in 2022, up from $6.5 billion in 2021, Ahmed Samir, Minister of Trade and Industry, said on the sidelines of the Egypt Projects and Windorex exhibition.
The exhibition is being held at the Egypt International Exhibition Center from May 6th to 8th.
Egypt’s exports of building materials increased 7.1 percent year on year (YoY) in 2022, the trade minister highlighted.
Egypt’s real estate and hospitality industries are expected to experience growth, boosted by a revived privatization program and a weaker LE according to the latest quarterly report from global real estate consultancy JLL.
JLL’s report revealed that 4,000 residential units were added during the January-March period, bringing the total stock to 249,000, with an additional 29,000 new units expected by the end of the year increasing construction activities in Egypt. However, project delays and fewer launches may occur due to hikes in construction costs.
Last month, Fitch Solutions predicted that the Egyptian construction industry will increase by 6.8 percent YoY, followed by average annual growth of 7.4 percent between 2024 and 2027. This was published in their Egypt Infrastructure report.
The construction industry is also one of the most important sectors driving the average annual economic growth rate to reach 4 percent over the next three years, Standard & Poor reported.
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