Egyptian housing ministry and private sector pump total annual investments of nearly EGP 200 bn in the construction and real estate investment sector, which significantly contribute to the growth of the local economy, Invest-Gate reports.
The ministry has pumped investments worth EGP 130 bn in FY 2018/19, covering housing, facilities, new cities, and slum development, Deputy Minister of Housing, Utilities, and Urban Communities for National Projects Khaled Abbas said during the preparatory conference for The Big 5 Construct Egypt 2019 on August 19.
“During FY 2018/19, the construction sector contributed 18% to the growth of the country’s gross domestic product (GDP), with expectations to hike to 20% in FY 2019/20,” the official confirmed.
The conference, which took place in Marriott Zamalek Hotel, saw the attendance of Dmg Events President Matt Denton, along with Sixth of October for Development and Investment Company’s (SODIC) Executive Director – Design and Engineering Tamer Anani, Sphinx Glass CEO Mohamed Khattab, among other dignitaries.
On his part, Roni El Haddad, event director at Dmg Events, the organizer of The Big 5 Construct Egypt 2019, noted that the exhibition will be held from September 2 to 4, spanning a total area of 20,000 square meters, highlighting that the company plans to widen this share to extend over 30,000 square meters next year.
Meanwhile, Anani stated, “Holding The Big 5 Construct Egypt for the second year in a row, with the volume of support provided to the exhibition, confirms its importance for real estate developers to identify new horizons in architectural design and implementation of various projects.” He stressed that Egypt is seeking to be one of the leading countries in the region in the field of construction and real estate investment.
Held under the theme “Bringing the world of construction to Egypt: Product Innovation – Knowledge Sharing – Networking,” the country’s largest construction event is expected to host over 300 exhibitors, operating in seven different sectors across 20 countries, while welcoming 13,000 to 15,000 visitors throughout all three days.