Egyptian cement prices rise EGP250/t in March

Egyptian cement prices increased by EGP250/t (US$14.14/t) to reach EGP1100/t at the beginning of March, reports Ahram Online. This has been attributed to some manufacturers using a halt in production in Sinai to raise prices, according to members of the Building Materials Division of the Cairo Chamber of Commerce. 

The cement price hike is part of a wider increase in the cost of building materials, which could result in a 15-20 per cent rise in real estate unit prices over the year.

“Real estate companies will likely raise their prices for the next phases of their current projects,” said Fathallah Fawzi, deputy president of the Egyptian Businessmen’s Association.

However, an additional 4Mt of cement is expected to enter the market in 2018, which should ease the pressure on prices.