Arab Contractors Chairman Mohsen Salah said Egypt’s vast series of national projects over the past years has contributed to revitalizing the country’s construction market and ending a colossal chunk of its stagnation crises, Invest-Gate reports.

The national projects will contribute to ending the problems Cairo is currently experiencing, particularly after relocating the headquarters of the ministries and government agencies and transferring them from Cairo to the New Administrative Capital (NAC), he revealed during Al Ahram Iktisadi’s third annual economic conference.

Salah added that offering a variety of residential projects will contribute to meeting the soaring demands in the market towards such developments.

The state’s considerable investment in the Egyptian infrastructure sector notably takes part in attracting foreign investors, according to the chairman.

The Egyptian government has allocated around 55% of the country’s development grants for upgrading the country’s infrastructure so far, in an attempt to incentivize investments, according to a recent report by the investment ministry.