The Egyptian tourism sector is receiving an unprecedented boost. Arrivals increased by over 50% in 2017, and the newly appointed Minister of Tourism, Rania Al-Mashat, has launched a reform programme that is expected to further revamp the Egyptian hospitality sector.
As the country gets ready to welcome a growing number of tourists, investments in new hospitality projects in Egypt amounts to approximately $7.9bn in 2018.
According to a recent BNC Intelligence report published by The Big 5 Construct Egypt, the international event for the construction industry set to launch next September in Cairo, nearly 60% of the projects are in the concept and design phases.
Josine Heijmans, Portfolio Event Director of The Big 5 Construct Egypt, says: “The Egyptian government is accelerating investments in the tourism and hospitality sector in order to diversify economic activities and increase employment rates.
“This inevitably opens up huge opportunities in the construction sector, opportunities that both Egyptian and international players are eying.”
According to Mohamed Atef, Trade Fairs Officer of the German-Arab Chamber of Industry and Commerce, Egypt’s unique tourist potential is one of the major factors attracting foreign investors in the country.
“The new investment law will further attract domestic and foreign investment in Egypt as it liberalises the foreign exchange system and adopts a comprehensive value added tax (VAT) system,” Mr. Atef adds.
With the backdrop of $360bn worth of ongoing construction projects, Cairo will host the first Big 5 Construct Egypt exhibition from 18 to 21 September 2018 at Egypt International Exhibition Center.
The largest portfolio of construction events in the Middle East, The Big 5, has identified Egypt as the next construction hotspot the country embarks on huge infrastructure and construction projects.
“There’s a vivid interest in the Egyptian construction sector right now,” said Heijmans. “Some of the largest manufacturers and distributors of building products and materials have signed up important partnership agreements with us, including the international Underwriters Laboratories (UL), the Saudi-based Al Bawani Company, and the Egyptian Sphinx Glass, Ezzsteel, and Al Amal.
“International participation is expected to be huge at The Big 5 Construct Egypt 2018, and Greece has already secured a prominent space becoming our official country partner for this launch edition of the event.”
One of the world market leaders in equipment for the concrete industry, the German Zenith Maschinenfabrik, will be also exhibiting at The Big 5 Construct Egypt.
Heiko Boes, the CEO of the company, said: “Egypt has been a dynamic and growing market for the construction industry for many years.
“We have the impression that the proposed new capital, which is planned to be completed in its first phase between 2020 and 2022, has considerably fueled the demand for building materials.
“Construction companies are now looking for modern machines to increase their production capacity and are ready to invest in new equipment. Egypt is a very important market for us as we expect further growth of the construction sector.”
The Big 5 Construct Egypt will feature six dedicated product sectors: Plant Machinery and Vehicles (PMV), MEP Services, Building Interiors & Finishes, Building Envelope & Special Construction, Construction Tools & Building Materials, and Construction Technology & Innovation.
Showcasing thousands of innovative products and solutions for the built environment, the event will gather hundreds of local and international suppliers under one roof.
Free educational sessions will also be offered at the show, where regional industry experts will present CPD-accredited workshops on the construction sector's hottest topics.
To know more about The Big 5 Construct Egypt 2018 (18-21 September, Egypt International Exhibition Center) visit: www.thebig5constructegypt.com