Egypt’s construction sector sees 20% surge in new companies in 2024: Heiba
Updated 9/16/2025 1:59:00 PM
Arab Finance: Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), highlighted that the number of new companies established under the construction sector in 2024 increased by 20% to 2,856 from 2,375 in 2023, according to a statement.
Heiba indicated that the construction sector made up the largest share of net foreign direct investment (FDI) inflows during fiscal year (FY) 2023/2024, with 76% of the total value, amounting to $35.756 billion, driven by the Ras Al-Hikma deal.
His remarks came during the third edition of "The Investor: Real Estate" conference, held under the patronage of Prime Minister Mostafa Madbouly, and in cooperation with the Real Estate Development Chamber.
The conference witnessed extensive participation from government and private sector officials, including representatives from the Ministries of Housing and Finance, the Financial Regulatory Authority (FRA), a number of public and private banks, and major real estate developers in the Egyptian market.
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