The construction sector in Egypt 2022

An overview of the construction sector in Egypt

The construction sector in Egypt is expected to grow during the current year 2022/2023 by 10% compared to the previous year, with a growth rate of only 6%, despite the continuation of the Covid-19 pandemic and the severe impact on the construction and investment sector in general in Egypt.

Despite that, within a short period and thanks to the Egyptian government, the real estate investment sector recovered and the ability to attract investors, which made the financial flows of the investment sector in Egypt grow significantly due to the confidence of the private sector and the strategy of investors in the real estate field to advance the development wheel of this vital and important sector.

As a result of the investors’ confidence in this vital sector, Radix Real Estate Development Company was launched in Egypt, which is one of the companies of the “Mowafak Holding” group in the Kingdom of Saudi Arabia, which has extensive experience for more than 65 years in the field of contracting, trade, agriculture, decoration, property management, cement industries, tourism and real estate development and has a long history in the Kingdom of Saudi Arabia and the Gulf countries such as: Central Commercial Complex, Al-Sabaan Commercial Plaza, Juffair Tower, Boulevard Al-Azhar Mall, Jizan Mall, Al-Sabaan Tower and also outside Saudi Arabia such as Bahrain: Saray Tower.

And as the "Mowafaq Group" began its journey in the Egyptian market through the Salmaniya Real Estate Development Company with its brand "Radix Development" in 2018, and began pumping huge investments in New Cairo, especially in the Fifth Settlement and Beit Al Watan, where Egypt's strategic orientation towards new cities, especially the administrative capital New Cairo, where the company launched the first commercial - administrative - medical building project. 

"Agile", which is characterized by its unique architectural character and reliance on clean and renewable energy through the use of solar energy in a step to rely on natural resources and provide smart communication services by linking the fiber-optic network of the city, believing in the role of information technology in improving services provided to customers.

The company seeks to increase the volume of investments in the Egyptian market strongly during the coming period and aims to expand its portfolio of new projects during the coming period.

As part of this, she chose to start her business in NAC and New Alamein due to the huge investment potential of those projects.

All this in an important step to advance the development and development of the real estate investment sector to be an important and vital element of attraction and encourage the private sector to invest in Egypt and increase the employment rates for many and employment in various disciplines.

It is expected that the contracting sector in Egypt will witness increasing growth during the ten consecutive years based on the confirmation of a number of experts in the field of real estate development and the construction sector based on the increase in opportunities for infrastructure works, residential and commercial projects and specialized projects with the support of President Abdel Fattah El-Sisi to actively of expand real estate investment and launch a new projects.