Deputy Minister of Housing, Utilities, and Urban Communities for National Projects Khaled Abbas said that the total investments of the Ministry of Housing during the current fiscal year (FY) in four sectors reach EGP 130bn, including housing sectors, infrastructure, new cities and slums development.
During the preparatory conference for The Big 5 Construct Egypt 2019 exhibition on Monday, Abbas added that the construction and real estate investment sector is one of the most important sectors that contribute to the growth of the local economy, where this sector contributed 18% growth in GDP last FY.
Abbas expected that this ratio will increase to 20% by the end of the current FY.
He pointed out that the total investments of the ministry and the private sector in construction and real estate sector are approaching EGP 200bn annually, which reflects the importance of this sector and the volume of its investments.
He elaborated that the Ministry of Housing provides support to all the important exhibitions and conferences present in Egypt, which gives an opportunity to learn about the developments of construction and implementation in the outside world.
Tamer Anani executive director at SODIC added, “Holding The Big 5 Construct Egypt 2019 exhibition for the second year in a row in Egypt with the volume of support provided to the exhibition confirms its importance for real estate developers to identify new horizons in architectural design and implementation of various projects.”
Anani noted that the exhibition provides knowledge participation of developers which is necessary for the development of any market, which is supported by the state by sponsoring this pivotal event in the construction sector, stressing that Egypt is seeking to be one of the leading countries in the region in the field of construction and real estate investment.
Roni El Haddad event director at dmg events, the organizer of The Big 5 Construct Egypt 2019, said that the exhibition will be held in September, with a total area of 20,000 sqm and exhibitors have an area of 8,900 sqm.
Additionally, the company plans to increase that area to reach 30,000 sqm next year