In 2023, Fitch Solutions forecasts Egypt’s construction industry to expand by 6.8% y-o-y, followed by average annual growth of 7.4% between 2024 and 2027, an Egypt Infrastructure Report says.
“In the medium term, we expect that the government’s privatization drive will increase the scope for private sector participation in the country’s infrastructure sector and support construction growth,” read the report.
Associated improvements to the operating environment in the sector will likely draw in foreign and local investment as the prospect of greater private sector ownership of key entities in the industry poses upside risks for transparency in the sector, the report said.
“We expect the conditions currently sustaining robust regional out-performance in Egypt’s construction market – strong economic growth, ongoing political and macro-economic stability, and a young and growing population – to remain in place over the coming years,” FS said in the report.
