Increase in construction activity seen in Egypt

Increase in construction activity seen in Egypt
13 August 2009

Alsharq Alawsat reported that a number of experts predicted that building materials prices in Egypt would increase during the H2 of 2009 till 2010, pointing out that their expectations are based on the remarkable increase of building and construction in Egypt.
Experts justified the increasing demand on building material to the huge projects that Egyptian real estate companies announced, in addition to the retreat in steel rebars prices by a half along with government’s infrastructure and middle income housing projects.
They added that increasing activity of building and construction in Egypt will neither stop nor tranquil. They expected that constructions in Egypt will continue increasing.
It is worth noting that, despite the slow activity of real estate market in Egypt; building materials witnessed an increasing demand since the beginning of 2009 which led to an increasing consumption of cement domestically by 25 % compared to 14 % increase in the H1 of 2008.
Published under Cement News