WHY INVEST IN THE EGYPTIAN CONSTRUCTION SECTOR
Knauf’s Experience: A “How To” For Foreign Companies In Egypt
A German family-owned company identified Egypt as a profitable market back in the late Nineties.
Twenty years later, the North African country keeps to its promise.
Knauf, one of the world's leading suppliers of gypsum-based, energy efficient insulation, and innovative building systems, opened its first representative office in Egypt in 1998. In 2015, with a EUR 40 million investment, it established its first production plant. The company also started serving Jordan, Syria and East Africa, beyond Egypt, and one year later, in 2016, the management decided to double the plant production in response to increased market demand.
The outlook for the future? In 2018, Knauf expects demand to increase even further.
Wherever you turn, new buildings and projects are springing up both in Cairo and around the country.
The Mall of Egypt, Maxim Mall, the Kempinski Hotel Soma Bay, The Steigenberger El Tahrir Hotel, the Terminal 2 of the Cairo International Airport, and the Business Park at the Cairo Festival City are just some of the landmark projects that used Knauf’s products.
Mr. Emmanuel Sigalas, General Manager at Knauf Egypt comments:
“Egypt is experiencing an ongoing boom in the construction industry on every level; the infrastructure, the commercial hubs and the residential projects. With a healthy growth projection and improved ratings, the investment climate has become more attractive to both local and foreign investors.
Over time, more projects are being launched. Each project offers opportunities for Knauf Egypt. The exceptional reputation of our products in the construction industry has already placed us in a prime position to expand in such a dynamic market.”
According to Knauf, it takes time to acquaint the Egyptian market to new technologies, building materials and innovative concepts. However, establishing a platform of informative and practical products and systems orientation such as training sessions has proved successful to Knauf.
“The mind-set in the Egyptian market differs vigorously. Addressing the gaps in marketing and delivering your products and services is crucial.
Creative marketing strategies are key to deliver your brand and your message in a way that resonates with the local customers on different levels. What works in Europe, the GCC, Asia, or the United States may not appeal to the Egyptian customer.
Although we live in an increasingly digital and de-personalised business environment, this is one country where personal business relationships are still a golden key. Solid after sales service and regular communication, along with incentives and interactions, keep the business cooperation flourishing.”
About Knauf Global
Coming from strong German roots, Knauf is a family-owned company that has carved out a place as one of the world's leading suppliers of gypsum-based, energy efficient insulation, and innovative building systems. With 75 years experience in the field, Knauf has expanded to share German expertise and quality in over 150 locations in 37 countries. Knauf Egypt is proud to be part of the Knauf family, upholding the commitment to dependability, dedicated customer care and exceptional products.