Construction & Real Estate

Construction remains one of the most important contributors to the domestic economy. In 2016 the sector’s output increased by 10.3%, a significant uptick after growing at an average of 5.3% in the preceding four years. This growth trend was largely maintained in 2017, expanding by 7.3% in the first nine months of FY 2016/17. The Egyptian real estate market has proven itself remarkably resilient to the political and economic tensions experienced previously in the country. However, while the industry has historically been seen as a safe bet in uncertain times, economic headwinds – especially strong in late 2016 and the first half of 2017, stoked by government reform efforts – are proving to be a tougher proposition.

This chapter contains interviews with Hassan Allam, CEO, Hassan Allam Holding; Osama Bishai, CEO, Orascom Construction; Magued Sherif, CEO, Sixth of October; and Ashraf Dowidar, CEO, ARDIC.