Market News

Deloitte East Africa has released a report showing that China is responsible for building 31% of all infrastructure projects in East Africa in 2014. This went up as compared to the 19% in 2013. The report was recently released during the third edition of the annual Deloitte African Construction . . .

 The Sharm El-Sheikh International airport has received US$140 million from the African Development Bank (AFDB) to facilitate its expansion project.   The expansion involves constructing a new terminal (terminal 3) and a runway in order to increase the passengers handling capacity by 10 . . .

 Egyptian president Abdel Fattah el-Sisi and his Russian counterpart Vladimir Putin have agreed to corporate to build a nuclear power plant in Egypt.   The partnership deal was signed during an official visit by President Vladimir Putin to Egypt.   The move for a nuclear power pla . . .

 Egypt’s property group SODIC has announced on Monday this week that it will invest US$301.64 million in 2015. CEO of SODIC Ahmed Badrawi has said the company is set to build 684 new property units in 2015. The company had announced last year that construction of first phase of its develo . . .

 National Statistics and Data processing centre (CNIS) has reported that the quantity of imported construction materials in Algeria increased by 15.6% in 2014.   According to the report, imported quantities of main building materials such as wood, cement, iron, ceramic and aluminium rose . . .