Construction companies have completed construction works at a value of approximately EGP 200bn in cooperation with the government sector during 2017, according to Egyptian Federation of Construction and Building Contractors Chairperson Hassan Abdel Aziz.
Abdel Aziz said that the construction sector is expected to double in size over the next four years, supported by business opportunities in new cities, as well as massive investments in infrastructure aimed at attracting foreign investment.
He added that the coming years will witness increasing expansions in the magnitude of business opportunities available in the market, which requires a strong approach to accelerate the solution of contractors’ problems and to support these companies in completing the path of development sought by the state.
He explained that during the coming four years, growth rates in construction works offered by the state are expected to increase in light of the trend to open new urban communities as well as expansions in the existing East Port Said and New Alamein cities.
He pointed out that contracting companies are currently contributing to the implementation of a large number of the country’s diverse projects in housing and infrastructure, as well as existing projects in the new cities as part of the five-year plan for development of the country.
He noted that the sector absorbs a sizeable portion of employment in the country. He further added that the construction sector is the first to pay taxes to the state.