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Egypt Residential Construction Market Size (2024 - 2029)

The Egypt Residential Construction Market is experiencing significant growth, driven by recent economic reforms and changes in foreign land ownership laws. These developments have revitalized the housing sector, supported by strong local demand and a consistent population increase. The government's strategic use of its land for public-private partnerships further bolsters the market, contributing to its expansion over the forecast period.

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Market Size of Egypt Residential Construction Industry

Egypt Residential Construction Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 18.75 Billion
Market Size (2029) USD 26.73 Billion
CAGR (2024 - 2029) 7.34 %
Market Concentration Medium

Major Players

Egypt Residential Construction Market Major Players

*Disclaimer: Major Players sorted in no particular order

Egypt Residential Construction Market Analysis

The Egypt Residential Construction Market size is estimated at USD 18.75 billion in 2024, and is expected to reach USD 26.73 billion by 2029, growing at a CAGR of 7.34% during the forecast period (2024-2029).

  • Egypt's home market made an unexpected comeback, aided by the government's recent strict economic reforms, notably the recent relaxation of the country's foreign land ownership laws. In the year to Q1 2021, the national real estate price index grew by 28.3% (22.6% Inflation-adjusted), compared to a 30.8% fall in the same period in 2020. It is an effort to stimulate the housing industry,
  • Egypt's president recently eliminated the remaining restrictions on foreign ownership of land and property. The president also permitted the government, Egypt's largest landowner, to use its property for public-private partnerships. These advances and fundamentally strong local demand are now supporting the housing market and the broader economy.
  • Housing demand rose rapidly due to a consistent population increase, with 383,000 houses built between 2005 and 2014 and 1.5 million units built between 2014 and 2021.

Egypt Residential Construction Industry Segmentation

Residential construction is expanding, renovating, or building a new house or area designed for residential reasons. Residential development can be a complicated process with many phases and parties.

The market is segmented by type (apartment & condominiums, villas, and other types) and construction type (new construction and renovation). The report offers market size and forecasts for Egypt's Residential Construction Market in value (USD billion) for all the above segments. The report also covers the impact of COVID-19 on the market.

By Type
Apartment & Condominiums
Villas
Other Types
By Construction Type
New Construction
Renovation
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Egypt Residential Construction Market Size Summary

The Egyptian residential construction market is experiencing a resurgence, driven by government initiatives and economic reforms. The relaxation of foreign land ownership laws and the promotion of public-private partnerships have bolstered the housing sector. This resurgence is further supported by a consistent increase in housing demand due to population growth. The government's Urban Development Fund has launched a significant urban housing project, aiming to develop numerous urban areas across the country. This initiative is part of a broader strategy to address housing shortages and improve living conditions, particularly in governorate capitals and major cities. Additionally, the National Social Housing Program is focused on providing affordable housing for low-income families, incorporating energy-efficient and environmentally friendly building practices.

The market is characterized by a competitive landscape with numerous local and international players, such as Orascom Construction and Palm Hills Developments, actively participating in various housing projects. The government's collaboration with private enterprises to develop low-income housing programs highlights the sector's potential for growth. The construction of a new administrative capital, intended to alleviate congestion in Cairo, is a significant undertaking that reflects the government's commitment to urban development. This new city is expected to house millions and includes plans for residential zones, a new parliament, and a presidential palace. The market's growth trajectory is supported by these large-scale projects and the ongoing demand for residential units, positioning Egypt as a key player in the regional construction industry.

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Egypt Residential Construction Market Size - Table of Contents

  1. 1. MARKET INSIGHTS AND DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Value Chain / Supply Chain Analysis

    5. 1.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.5.1 Bargaining Power of Suppliers

      2. 1.5.2 Bargaining Power of Buyers/Consumers

      3. 1.5.3 Threat of New Entrants

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Government Regulations and Initiatives

    7. 1.7 Technological Trends

    8. 1.8 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Apartment & Condominiums

      2. 2.1.2 Villas

      3. 2.1.3 Other Types

    2. 2.2 By Construction Type

      1. 2.2.1 New Construction

      2. 2.2.2 Renovation

Egypt Residential Construction Market Size FAQs

The Egypt Residential Construction Market size is expected to reach USD 18.75 billion in 2024 and grow at a CAGR of 7.34% to reach USD 26.73 billion by 2029.

In 2024, the Egypt Residential Construction Market size is expected to reach USD 18.75 billion.

Egypt Residential Construction Report Snapshots

Egypt Residential Construction Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)