CAIRO: Egypt’s construction and building materials sector is expected to receive investments worth 100 billion EGP during 2015, Wael Ziada, Managing Director and head of research at EFG- Hermes, said Monday.
Speaking at the Cityscape Egypt Real Estate Summit held in Cairo Monday, Ziada said these investments will be directed towards national projects and the Suez Canal Axis development project.
Ziada further affirmed that the construction sector was the key driver for Egypt’s economic growth over the past few years following the January 25 Revolution.
“With exchange rate fluctuations and hard currency resources’ plunge, Egypt’s real estate sector has always been a safe haven for investors who consider it as the most successful and least risky sector,” he said.