The Big 5 Construct Egypt, the Cairo-based edition of The Big 5, is back for a second round from September 2 to 4, during which experts, decision-makers, and exhibitors from the global construction sector will gather to explore business opportunities in the country, Invest-Gate reports.
Taking place at the Egypt International Exhibition Center (EIEC), east Cairo, the conference is convened jointly between dmg events and ACG-ITF. This year’s edition will splay further to occupy 30,000 square meters, putting “a stronger focus on infrastructure and construction to build the new Egypt,” said Event Director of The Big 5 Construct Egypt Roni El Haddad in a press statement on June 11.
It will bring together over 300 local and international exhibitors of construction products, materials, and solutions, not counting more than 13,000 visiting industry professionals, El Haddad indicated, referring to the “Egyptian Construction Market Report,” which revealed that the North African country is the only in the Middle East and Africa regions where overall spending on projects has spiked throughout the past two years.
The report, published collaboratively between The Big 5 and MEED Projects, confirmed, “The country has already overtaken Saudi Arabia as the second largest single projects market in the region, recording more than USD 33 bn of contract awards in 2018.”
Digging deeper into these developments, El Haddad pointed out, “In total, more than USD 20 bn worth of real estate and civil infrastructure projects, valued USD 50 mn or above, have been awarded over the past two years alone.”
“Egypt has well over USD 300 bn of known planned and un-awarded projects, which gives it a project pipeline larger than any other regional market, after Saudi Arabia and the UAE,” he elaborated, noting, “Construction is by far the largest future market in the country, with more than USD 120 bn worth of planned projects, and growing. The time to invest in the Egyptian construction market is now.”
According to the report, well-built economic performance, population growth, and a construction-focused state that puts delivery of projects and industrialization on top of its agenda are among the key factors to the sector’s development. It added that such assortment forms the ultimate basis for a sustainable construction boom for years, if not decades, in prospect.
“Some of the major active construction projects in Egypt include the New Administrative Capital (NAC), the huge New Alamein on the North Coast, the new Grand Egyptian Museum (GEM), a host of new hotel and tourism developments, and the expansion of the existing Cairo Metro network,” read the report.