DetailsDue to the country’s attractive location, the real estate business brings even brighter days for Egypt, as the sector is projected to grow by 70%, from $7.2 billion in 2012 to $12 billion by 2022.
The composition of Egypt’s population is one of the principal contributors to the country’s thriving real estate sector: out of the nearly 90 million inhabitants, more than half are under the age of 25. In addition, with a recent growth in marriages – married couples make up a total of 33-37% of total population – the demand for houses has increased even further, with a particular demand for high and middle-income housing.
Every year, Egypt not only requires more than half a million homes to meet the demands of new families, but it must also continue to satisfy the existing house deficit. Essentially, with each year, the demand for houses and related infrastructure continues to exceed the supply.
The Egyptian government’s ambitious construction master plan will speed up a US$ 55 billion commercial, technological, industrial and residential construction program designed to incredibly modernize the country’s residential, industrial and commercial portfolio.
Construction boom in Egypt is projected to stay on a growth path as the country continues to set mega construction plans; which will unquestionably require the most advanced designs, finishing materials and technologies to reflect the sought after modernized look of the country.