Egypt third-most active market for awards in 2016

Egypt was the third-biggest market for contract awards in the Middle East and North Africa region in 2016, MEED’s latest research report Outlook Egypt 2017 reveals.

This was despite security problems and a currency crisis contributing to a 23 per cent drop in the total value of deals let in the North African country in 2016.

Analysis of data from MEED Projects shows Egypt signed $18.4bn-worth of contracts during the year, moving ahead of Qatar and Kuwait to become the third-most active market in the region. The UAE was the largest, with more than $40bn of deals awarded, followed by Saudi Arabia with just over $25bn.

In both 2014 and 2015, Egypt was the fifth-largest market for awards.