Egypt’s Mortgage Funding Down 84.2% in April: FRA
The Financial Regulatory Authority (FRA) has unveiled that Egypt’s mortgage finance activity dropped by 84.2% last April versus the year-ago figures.
News / Business
All Red Sea Hotels to Reopen by Summer’s End: Official
Chairman of the Egyptian Hotels Association in the Red Sea Alaa Akel forecast that all Red Sea hotels are projected to resume operations by next October or November, however, at low occupancy rates.
Egypt’s National Carrier to Resume Flights in Early July
Egypt's EgyptAir Airlines will resume flights to 24 destinations during the first week of July and will add more in the following weeks, operating at 20-30% capacity.
Ascott Secures 25 New Properties Globally Despite Pandemic
CapitaLand’s wholly-owned lodging subsidiary The Ascott Limited has secured contracts for 25 new properties that contribute over 5,400 units across 19 cities around the world, amid the COVID-19 headwinds.
Dawi Clinics Sets Foot in Nile Delta
Outpatient healthcare services provider Dawi Clinics expands outside the capital city and set foot into the Nile Delta, opening a new branch in Tanta.
Elsewedy Electric Among Forbes’ 100 Top Mideast Companies in 2020
Egypt-based Elsewedy Electric has been recognized among the top 100 companies in the Middle East by Forbes, due to its sector-based contribution to significantly boost local economic growth.
Egyptian Hotels Almost Fill Up at Reduced Occupancy
After reopening at a quarter of regular capacity in a bid to contain the spread of COVID-19, Egyptian hotels are almost fully booked for domestic tourism, coinciding with the peak season of Eid Al Fitr holiday.
Smart Real Estate Seen a Boon for Home Hunters Amid Uncertainties
Demand for real estate tech and virtual services (i.e. augmented reality (AR), virtual reality (VR), 360° virtual panoramic tours, etc.) is forcefully surging in Egypt more than ever before, in efforts to boost sales and revive demand amidst heightened volatility due to the Coronavirus crisis, as highlighted at Invest-Gate's first virtual roundtable "Smart Real Estate Market Amid COVID-19."
Lafarge Egypt Repairs Ventilators, Provides Food Boxes
Lafarge Egypt, a subsidiary of LafargeHolcim Group, has announced repairing 460 ventilator devices in public hospitals nationwide and providing 2,000 food boxes to support daily workers in Qalyubia Governorate.
JLL Predicts E-Commerce Boom in Egypt Amid COVID-19
JLL expects a new wave of e-commerce transformation across Egypt, especially in Cairo, after showing a notable growth potential following the coronavirus fallout
