Latest news with #MarketReview
Daily News Egypt
23-03-2025
- Business
- Daily News Egypt
Egypt's residential sector leads 2024 project awards, valued at $2.4bn: JLL
After facing a challenging beginning to 2024, Egypt is projected to see its GDP growth accelerate to 4% in 2025. This is expected to be driven by easing inflation, improved currency stability, and ongoing public sector reforms, according to JLL's Middle East and Africa (MEA) Market Review and Outlook for 2025. Supporting this positive outlook are predictions for inflation to slow from 28.3% in 2024 to 17.8%, alongside a surge in foreign direct investment (FDI), particularly from GCC countries. This influx of capital and global confidence is expected to significantly boost Egypt's real estate sector, highlighting optimism about the country's economic potential and property market, JLL reports. Ayman Sami, Country Head of JLL Egypt, commented: 'Despite the economic turbulence and policy tightening, Egypt's real estate market is on an upward trajectory. The reduction in inflationary pressures, coupled with rising foreign investment and improved stability of the Egyptian pound, is reigniting investor interest. In 2025, Cairo's residential and hospitality segments are expected to be the main drivers of growth, supported by government efforts to enhance the investment environment.' Despite a range of challenges, including rising costs, escalating wages, and geopolitical conflicts affecting logistics and supply chains, the construction market in the MEA region slowed in 2024, experiencing a 20.2% decline to $90bn. In Egypt, the residential sector, valued at $2.4bn, dominated project awards, according to JLL. Even with pressures such as labor shortages, technology issues, and regulatory complexities, the MEA construction market remains robust, with a $1.9trn project pipeline. Ahmed Hemmat, Head of Projects and Development Services for JLL in Egypt, stated: 'Egypt's construction market has shown remarkable resilience amid global challenges. While geopolitical tensions and economic uncertainties have impacted the sector, national projects and growing foreign investments are creating significant opportunities for developers. Strategic partnerships and innovative solutions will be essential to overcoming challenges such as rising material costs and supply chain disruptions.' As the economic landscape improves, Cairo's residential sector continued to demonstrate resilience throughout 2024, with rental rates outperforming the broader market. The 6th of October City and New Cairo both saw substantial rental increases of approximately 108% year-on-year, while secondary markets experienced price hikes of 112% and 116%, respectively, largely driven by inflation. Healthy demand is expected to continue pushing rental and sales prices upward in 2025, though at a slower pace than in 2024. In 2024, Cairo saw the completion of approximately 24,000 new residential units, bringing the total inventory to around 293,000. In 2025, the sector is expected to expand further with the delivery of nearly 32,000 additional units. Cairo's hospitality sector also saw significant growth in 2024, as government initiatives improved the tourism landscape, attracting a record 15.7 million visitors to the capital. The hospitality sector benefited from an increase in supply activity, with key hotel operators like Hilton, Accor, and IHG announcing expansion plans. Though only one new hotel was completed in 2024, nearly 2,000 additional hotel rooms are expected to be added to the market in the coming year. While Cairo's hotel occupancy rates dipped by 5.4 percentage points in 2024, the average daily rate (ADR) saw a slight uptick of 0.52%. The hospitality sector's growth is set to continue, with additional supply supporting the goal of attracting 18 million visitors in 2025. Cairo's office market remained stable in 2024, with a slight reduction in vacancy rates and a modest drop of 1.8% in average rents. In 2025, nearly five times as many office units are scheduled for completion. The demand for Grade A office spaces, particularly in business parks and mixed-use developments offering amenities like ample parking, is driving up prices due to limited supply in relation to demand. This demand, especially from corporate occupiers, is expected to fuel further growth in the office sector over the medium to long term, while the growth of the outsourcing market will also stimulate increased activity in this space. After a period of downturn, Cairo's retail sector began to show signs of recovery toward the end of 2024. Average rental rates in Q4 remained stable compared to the previous quarter, with the secondary market leading the charge, showing an annual increase of 14%. Primary regional and super-regional malls also saw moderate growth, with rental rates rising by 6%.
Associated Press
10-02-2025
- Business
- Associated Press
Telecommunications Network Operators 2024 Market Review: Telco Topline Rebounds But Annualized Capex Dips Below $300B Mark Amid Continued Spending Cuts
The 'Telecommunications Network Operators: 3Q24 Market Review' report has been added to offering. This report reviews the growth and development of the telecommunications network operator (TNO, or telco) market. The report tracks a wide range of financial stats for 140 telcos across the globe, from 1Q11 through 3Q24. For the annualized 3Q24 period, telcos represented $1.77 trillion (T) in revenues (0.1% growth YoY), $262.4 billion (B) in labor costs (0.8% YoY), and $294.6B in capex (-7.7% YoY). They employed approximately 4.45 million people as of September 2024, down 1.5% from the prior year. Below are a few highlights from the report: Revenues: Telco topline grew slightly by 0.8% on a YoY basis to post $441.4 B in the latest single quarter ending 3Q24. Revenues for the annualized 3Q24 period were $1,770.6B, up 0.1% YoY over the same period in the previous year. At the operator level, five of the top 20 telcos by topline growth in 3Q24 on an annualized basis include Airtel (4.6%), America Movil (4.3%), STC (Saudi Telecom) (4.2%), Deutsche Telekom (3.3%), and BT (2.5%). By the same criteria, the worst telco growth came from Vodafone (-6.8%), KDDI (-5.7%), NTT (-5.0%), SoftBank (-3.6%), and BCE (-1.6%) during the same period. Note that exchange rate volatility was NOT a major factor in 3Q24, as most major currencies were relatively stable versus 3Q23 levels. Capex: Capex spending declined by 6.1% on a YoY basis to post $71.1B in the latest single quarter ending September 2024. Capex for the annualized 3Q24 period was $294.6B, down 7.7% YoY over the same period in the previous year. At the operator level, five of the top 20 telcos by capex growth in 3Q24 on an annualized basis include BSNL (300.6%), Telstra (52.3%), BT (4.8%), NTT (3.0%), and China Mobile (1.9%). By the same criteria, the worst capex growth came from Reliance Jio (-27.4%), Verizon (-22.5%), Vodafone (-20.0%), Deutsche Telekom (-18.1%), and KDDI (-16.3%) during the same period. Opex and labor costs: Total opex for the telecom industry in the annualized 3Q24 period stood at $1,507.9B, a slight increase of 0.9% over the same period in the previous year. Excluding depreciation and amortization (D&A) costs, opex increased by 1.7% on YoY basis to record $1,179.4B in the annualized 3Q24 period. One significant element of telco opex is labor costs, which include salaries, wages, bonuses, benefits, and retirement/severance costs. Labor costs grew by 0.8% YoY in the annualized 3Q24 period, while labor costs as a percentage of opex (ex-D&A) was 22.2% in the same period. Profitability margins: Both EBITDA and EBIT margins showed a slight decline in annualized 3Q24 compared to 3Q23. The annualized EBIT margin dipped from 15.5% in 3Q23 to 14.8% in 3Q24, while the EBITDA margin for the annualized 3Q24 period stood at 33.4%, down from 34.5% in annualized 3Q23. Regional trends: The Americas retained its position as the largest revenue-generating region in 3Q24, contributing 37.2% of global telco revenues, closely followed by Asia with a 36.4% share. On a capex basis though, Asia emerged as the top spender, claiming 38.2% of global capex and outpacing the Americas; this is a change from 3Q22 and 3Q23, when Americas ranked #1 on the back of 5G spending by AT&T and Verizon. Europe retained the highest annualized capital intensity, reaching 17.8% in 3Q24, followed by MEA at 17.0%. Key Topics Covered: Report Highlights Summary Market snapshot Analysis Key stats through 3Q24 Labor stats Operator rankings Company Deepdive & Benchmarking Country breakouts Country breakouts by company Regional breakouts Raw Data Subs & traffic Exchange rates Methodology & Scope Companies Featured A1 Telekom Austria Advanced Info Service (AIS) Airtel Altice Europe Altice USA America Movil AT&T Axiata Axtel Batelco BCE Bezeq Israel Bouygues Telecom BSNL BT Cable ONE, Inc. Cablevision Cell C Cellcom Israel CenturyLink Cequel Communications Charter Communications China Broadcasting Network China Mobile China Telecom China Unicom Chunghwa Telecom Cincinatti Bell CK Hutchison Clearwire Cogeco Com Hem Holding AB Comcast Consolidated Communications Cyfrowy Polsat DEN Networks Limited Deutsche Telekom Digi Communications DirecTV Dish Network Dish TV India Limited DNA Ltd. Du EE Elisa Entel Etisalat Fairpoint Communications Far EasTone Telecommunications Co., Ltd. Frontier Communications Globe Telecom Grupo Clarin Grupo Televisa Hathway Cable & Datacom Limited Idea Cellular Limited Iliad SA KDDI KPN KT Leap Wireless LG Uplus Liberty Global M1 Manitoba Telecom Services Maroc Telecom Masmovil Masorange Maxis Berhad Megafon MetroPCS Communications Millicom Mobile Telesystems MTN Group MTNL NTT Oi Omantel Ono Ooredoo Orange PCCW PLDT Proximus Quebecor Telecommunications Rakuten Reliance Communications Limited Reliance Jio Rogers Rostelecom Safaricom Limited Sasktel Shaw Singtel SITI Networks Limited SK Telecom Sky plc SmarTone SoftBank Spark New Zealand Limited Sprint StarHub STC (Saudi Telecom) SureWest Communications Swisscom Taiwan Mobile Tata Communications Tata Teleservices TDC TDS Tele2 AB Telecom Argentina Telecom Egypt Telecom Italia Telefonica Telekom Malaysia Berhad Telenor Telia Telkom Indonesia Telkom SA Telstra Telus Thaicom Time Warner Time Warner Cable TPG Telecom Limited True Corp Turk Telekom Turkcell Veon Verizon Virgin Media Vivendi Vodafone Vodafone Idea Limited VodafoneZiggo Wind Tre Windstream Zain Zain KSA Ziggo For more information about this report visit is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. View source version on Laura Wood, Senior Press Manager For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 KEYWORD: Copyright Business Wire 2025. PUB: 02/10/2025 01:18 PM/DISC: 02/10/2025 01:18 PM
