News / Business

Egyptian Real Estate Sees Buoyant Demand: Fitch Solutions

Fitch Solutions said the introduction of 20 new cities across Egypt, along with the upgrading of 23 existing areas, is stirring up demand for Egyptian real estate, in the face of Coronavirus headwinds.

ADTIC Announces Renovation of its Egyptian Hotels

Abu Dhabi Tourism Investment Company (ADTIC), a subsidiary of the Abu Dhabi Fund for Development (ADFD), has uncovered a major refurbishment project for its hotels in Egypt, aiming for completion in H2 2021.

Minister Inaugurates HyperOne Branch in New Sphinx

Egypt's Minister of Supply and Internal Trade Ali Moselhy has officially inaugurated the newest 50,000-square-meter branch of retail chain HyperOne in New Sphinx, west Cairo, coming with investments valued at EGP 650 mn.

Isqan.com to Soon Digitize Property Shopping in Egypt

Isqan.com will soon launch to revolutionize the real estate shopping experience in Egypt by providing homebuyers with an integrated digital platform that will enhance their next property purchase.

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.

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.

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