CEO of Egypt’s Orascom Construction Osama Bishai said that although Egypt’s IMF-backed reforms had inevitably resulted in a number challenges for the construction sector, the current level of demand for infrastructure across the country could be described as “unprecedented,” with plenty “still to do,” Oxford Business Group’s online broadcasting channel Global Platform reports.
“The need for infrastructure, the need for new cities, new housing, new power generation is constant … to be able to sustain the growth of the population and provide a better quality of life,” Bishai told Global Platform on November 18.
However, the CEO also said that “there has been major growth in road construction which is a great infrastructure network that will allow commerce between different parts of the country and allow investors to distribute their products.”
He highlighted, in particular, the expansion planned over the next decade for Cairo’s metro system, which is already the biggest of its kind in the Middle East, according to Global Platform.
Other projects cited by Bishai include some initiatives aimed at bolstering Egypt’s tourism industry, which he described as a potential “gamechanger” for the country.
He referred to the new Grand Egyptian Museum, which is currently under construction, “as an example of a project capable of significantly raising the country’s profile.”
“It will generate a completely different interest and a completely different flow of tourists who would like to come and see this magnificent building overlooking the pyramids,” he underlined.