Egypt needs a major expansion plan for housing and infrastructure to tackle the annual shortage of residential units, which has recorded 300,000 units per year, according to Lafarge Egypt Country CEO Hussein Mansi, reported Al Mal.

This compares to estimates from Colliers International placing the housing gap at closer to 100,000 units annually, with a total of 500,000 units required to meet the housing gap by 2020.

Mansi reportedly stated, at a press conference about national projects, that enhancing the infrastructure and facilities is crucial to meeting the high demand on continuous development, adding that the development and building sector currently constitutes 7% of existing jobs.

Lafarge operates in the cement, concrete and aggregate sectors in 90 countries, with a focus on emerging markets.