Dubai Property Prices Drop 0.9%, Rents Fall 6.9% in Q3 2020
The Central Bank of the UAE (CBUAE) has reported that residential prices in Dubai dropped 0.9% YoY in Q3 2020, referring to inexorable pressure from the ongoing Coronavirus crisis.
News / Business
MetLife to Offer Insurance Solutions Through ADIB
MetLife has announced its partnership with Abu Dhabi Islamic Bank - Egypt (ADIB) to provide comprehensive life insurance solutions through ADIB’s diverse distribution channels and network of at least 69 branches across the country.
Dubai’s Resale Home Deals Hit 7-Yr High: Property Finder
The latest data by Property Finder Group shows Dubai's resale home deals have hit the highest record in almost seven years, with 2,179 transactions sealed in just one month.
Moody’s Keeps Egypt Credit Rating at B2 Thanks to Economic Strength
Moody’s Investors Service has kept Egypt’s credit profile at “B2 stable,” with a stable outlook underpinned by the country's economic strength.
Egyptian Expats’ Remittances Rise 19.6% From July to September: CBE
The Central Bank of Egypt (CBE) has uncovered that remittances sent home by Egyptian expats inched up by 19.6% YoY, or USD 1.3 bn (EGP 20.4 bn), during the first quarter of FY 2020/21.
NBK Sees COVID-19 Scars on Egyptian Economy Worn Off
The National Bank of Kuwait (NBK) has recently found that the Egyptian economy’s performance promises hopeful prospects, as the worst repercussions of the novel COVID-19 crisis wears off.
Businesses to Return to Pre-Corona Profit Levels Before 2023: HSBC
Results of a recent HSBC poll show that almost nine in 10 (89%) Egyptian businesses forecast revenue growth in 2021, whereas 83% foresee their bottom lines to bounce back to pre-Coronavirus levels by the end of 2022.
Egypt Among World’s 10 Fastest-Growing Economies in 2020: Bloomberg
US-based news agency Bloomberg has reported that Egypt’s recovery from the ordeal of the ongoing Coronavirus hit turned it into one of the world's 10 fastest growing economies in 2020, thanks to the economic reform program.
Coldwell Banker Egypt, Sakneen Announce Integrated Technology Solutions
Coldwell Banker Egypt and Sakneen announce a new Strategic Partnership to provide Integrated Technology Solutions to the Real Estate Sector
Egypt’s Hotels Worst Hit in MENA Region Amid COVID-19: Colliers
Colliers International’s latest MENA Hotels Quarterly Review (Q3 2020) shows that Egyptian hotels have been the region’s worst-hit so far by COVID-19, with occupancy going down at least 50% during this year, despite the resumption of international flights and reopening of prime tourism spots.
