Egypt Manufactured Homes Market Size

Egypt Manufactured Homes Market Analysis

The size of Egypt Manufactured Homes market is USD 690 million in the current year and is anticipated to register a CAGR of over 5.9% during the forecast period. The market is driven by the demand for cost-effective ways of construction. Furthermore, rising prices are a reason to shift to affordable houses driving the market.

• The construction sector is a significant contributor to Egypt's economy, with the sector expected to grow at an annual rate of 8.3% until 2029, accounting for 30% of the MENA construction market. As the sector grows in size and importance, alternative and more efficient construction methods are gradually being introduced to Egypt's construction sites. These include prefabricated (or prefab) and modular construction, both of which are gaining popularity around the world as time-saving and cost-effective alternatives to traditional construction. Construction demand will surge in Egypt over the next 10-15 years, and Qubix intends to capitalize on the trend. The introduction of new cities, such as New Alamein or the new administrative capital, as well as increased transportation and energy projects, has aided the sector gain traction as an efficient way to fast-track implementation.
• Prefab has also shone in government water projects such as water treatment and well construction. (Arabian Construction House Group) ACH's fibre panels are water resistant because the lack of metal prevents rusting, which would otherwise result in yearly maintenance costs, and their main customers are oil companies with facilities on the water. In the case of ACH, demand growth has been slower because most Egyptian construction companies are still unsure of the benefits of prefab, especially given the country's low building costs. Because fibre panels are used in prefab buildings as an alternative to metals, prefab demand is heavily influenced by metal prices. The majority of ACH's prefab demand comes from export markets, as other countries outperform Egypt in this sector.
• Egypt's population is growing by 2 million people per year, creating a demand for residential property at all price points. That is, demand rises in every industry every year. Furthermore, there is a high demand for commercial and administrative space from both local and foreign investors, particularly in the New Administrative Capital. Furthermore, the Grand Egyptian Museum's opening will boost the property market in West Cairo as well as Sphinx airport. This is consistent with Egypt's efforts to develop and expand within this region. Aside from the government, the local market requires more regulations between developers and buyers. Historically, property maintenance has not been a priority in Cairo, even though it is critical to their long-term viability.