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Synopsis Despite political uncertainty and an economic slowdown in the past four years, the Egyptian construction industry’s output value in real terms is expected to grow over the forecast period (2015–2019), due to continued investment in the residential, infrastructure and energy markets. During the Egyptian Economic Development Conference (EEDC) held in March 2015, investment contracts worth EGP256.4 billion (US$36.2 billion) were signed, which include the construction of a new capital city, the development of the Golden Triangle region and the expansion of the Suez Canal. This strong project pipeline will support the growth of the construction industry. Consequently, in real terms, growth in the construction industry is expected to accelerate from an annual average of 3.90% during the review period (2010–2014) to 7.64% over the forecast period. Summary Timetric’s Construction in Egypt – Key Trends and Opportunities to 2019 report provides detailed market analysis, information and insights into the Egyptian construction industry including: • The Egyptian construction industry's growth prospects by market, project type and type of construction activity • Analysis of equipment, material and service costs for each project type in Egypt • Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Egyptian construction industry • Analyzing the profiles of the leading operators in the Egyptian construction industry. • Data highlights of the largest construction projects in Egypt Scope This report provides a comprehensive analysis of the construction industry in Egypt. It provides: • Historical (2010-2014) and forecast (2015-2019) valuations of the construction industry in Egypt using construction output and value-add methods • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type • Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services) • Analysis of key construction industry issues, including regulation, cost management, funding and pricing • Detailed profiles of the leading construction companies in Egypt Reasons to Buy • Identify and evaluate market opportunities using Timetric's standardized valuation and forecasting methodologies • Assess market growth potential at a micro-level with over 600 time-series data forecasts • Understand the latest industry and market trends • Formulate and validate business strategies using Timetric's critical and actionable insight • Assess business risks, including cost, regulatory and competitive pressures • Evaluate competitive risk and success factors Key Highlights • Egypt plans to generate 20.0% of its electricity through renewable resources by increasing its installed capacity in the sector by 2020. In 2014, the government announced a feed-in tariff scheme, which is expected to increase the flow of investments in the renewable energy sector. In March 2015, ACWA Power and Masdar signed an agreement with Egyptian Electricity Holding Company (EEHC) to develop 2GW of renewable energy capacity. Rising energy demand is expected to direct investments towards Egypt’s energy infrastructure over the forecast period. • To overcome the housing shortage, the Egyptian Ministry of Housing plans to construct one million affordable units by 2020. The project is to be implemented by the Arabtec LLC, an Emirati construction firm. Although the actual announcement was made in 2014, the deal was suspended due to political and financial factors. In April 2015, however, Arabtec LLC signed a final contract with the Egyptian government. With a total investment of EGP305.1 billion (US$40.0 billion), the project is expected to be developed across an in an area of 160 million m2. • With an aim to attract 20.0 million tourists and to generate EGP181.2 billion (US$26.0 billion) income from the tourism industry by 2020, the government is focusing on the construction of new tourist destinations in Ras Sedr, Ain Sokhna, the Gulf of Aqaba, the North Coast and the Red Sea. To achieve this target, the government is focusing more on medical tourism, oasis and desert tourism and eco tourism. It plans to expand its hotel industry by constructing 1.4 million rooms, accommodating 34.0 million tourists by 2020. This will help support growth in the leisure and hospitality buildings category over the forecast period. • To increase trade in the country and establish a faster shipping route between Asia and Europe, the Egyptian government announced its plans in 2014 to develop the Suez Canal. Moreover, in order to generate EGP95.6 billion (US$13.5 billion) income by 2023 from the Suez Canal, the government also plans to construct a logistics and industrial hub on a 76,000km2 area around the canal. This will contribute to the continued expansion of Egyptian construction industry over the forecast period. • To support industrial activities in the country, the government is developing the Golden Triangle project in southern Egypt, which will link the Red Sea port cities of al-Qusayr and Safaga with the Upper Egyptian Governorate of Qena. With an expected investment of EGP230.0 billion (US$32.5 billion), the project is being developed on a 38,000m2 area and will create 400,000 jobs in the country.
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