Prices of key construction materials and fertilizers in Egypt showed mixed trends on October 27th, according to new data released by the Cabinet’s Information and Decision Support Center (IDSC).

South Valley Cement has agreed to sell its 47.61% subsidiary, Building Materials Industries, to the Spanish company Instituto Tecnol?gico de Inform?tica (ITI) for EGP 584 million at EGP 2 per share

Egypt’s construction and building sector is considered an engine for the economic growth of the country. The Egyptian government has set a strategic plan for urban development to be achieved by 2052. Under this plan, 44 new cities will be established across Egypt with an annual budget of $850 million. Currently, 24 new cities are under construction.

Egyptian exports of building materials hit $3.255 billion during the first five months of the current year.

Egypt’s exports of building materials rose 7.1% year on year (YoY) in 2022, Egyptian Minister of Trade and Industry Ahmed Samir said.