Egypt attacks continue to spare projects market

30 June 2015

Development schemes remain relatively safe as attacks continue to target government officials

  • Assaults continue to target security staff and government officials in Egypt
  • Investors keeping a close eye on security situation

The recent assassination of Egypt’s top public prosecutor, Hisham Barakat, and several sporadic terrorist attacks across the country are unlikely to have long-term damaging effects on Cairo’s project aspirations, according to analysts.

Contractors and analysts tell MEED that while the attacks will cause concerns for investors, the continued targeting of government officials and security personnel means the projects market remains relatively safe.

Most of the assaults have been in northern Sinai, and while it is difficult to attribute the violence to a single group, many attacks have been claimed by Ansar Beit al-Maqdis, which has pledged its allegiance to the jihadist group Islamic State in Iraq and Syria (Isis). There have also been several smaller improvised explosive device (IED) attacks in Cairo, the Nile delta and Upper Egypt.

The Egyptian government has been quick to blame the Muslim Brotherhood for the attack that killed Barakat on 29 June, although no group has yet claimed responsibility and the Brotherhood has condemned the bombing.

Barakat oversaw the prosecution of hundreds of Islamists, including former president Mohamed Mursi, in mass trials that were widely condemned internationally.

His is the highest-profile assassination in recent Egyptian history. However, former interior minister Mohamed Ibrahim was targeted in a similar car bomb attempt in 2013.

Attacks to date in Egypt in 2015

  • 29 January Al-Arish – 40 soldiers killed near Rafah border attack
  • 26 February Cairo – Improvised explosive device (IED) kills one and injures three in retail centre
  • 3 March Cairo – IED kills two and injures nine outside Egyptian high court
  • 10 March Al-Arish – Suicide car bomb kills one and injures 25 police officers
  • 2 April Northern Sinai – Two men ambush armed forces base, killing 15 and injuring 19
  • 5 April Cairo – IED kills one police officer in affluent area of Zamalek
  • 9 April Northern Sinai – Missiles and bombs kill nine residents
  • 11 April Northern Sinai - Ansar Beit al-Maqdis releases video showing the beheading of one solider and one civilian
  • 12 April Sheikh Zuwaid – IED kills five soldiers; Northen Sinai – Suicide car bomb kills six and injures 44
  • 10 June Luxor – Suicide bomb attack injures two civilians and two policemen, but no tourists were hurt.
  • 29 June Cairo – Car bomb kills public prosecutor Hisham Barakat

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