Greenfield investment monitor fDi Markets has tracked a strong resurgence of inward Egyptian FDI during the first quarter of 2014. Recorded capital investment, job creation and project numbers are all significantly higher than they were in the same quarter of the previous two years. During the first three months of 2014, fDi Markets recorded $43.11bn of FDI in the country, significantly higher than the $2.19bn tracked in 2013 and the $2.63bn recorded in 2012. In fact, inward investment in the first quarter of 2014 has surpassed the total received in 2012 and 2013 combined.
This can largely be attributed to a substantial real estate development initiative launched by the United Arab Emirates-based Arabtec Holding in partnership with the Egyptian government. In March, Arabtec announced that it was investing E£280bn ($39.83bn) in a number of real estate developments across the country.
In 2012 and 2013, Egypt accounted for 12.14% and 2.97% of FDI in the Middle East and Africa, respectively. During the first quarter of 2014, fDi Markets shows that Egypt accounted for 72.64% of FDI in the Middle East and Africa, equating to a global market share of 19.09%.
Job creation levels have also substantially increased, rising 611% in the first quarter of 2014 compared the whole of 2013. The number of tracked projects has also increased, rising 43.75% in the first quarter of 2014, compared with the same quarter in 2013.