News / Government

El Gazzar Mourns Loss of Military Production Minister

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar mourned the loss of Minister of Military Production Mohamed Al-Assar, who passed away on July 6 after an illustrious military career.

Baron Palace Reopens to Public After 2-Yr Restoration

After more than two years of restoration, Egypt's long-dormant Baron Palace in Heliopolis has regained its glory and reopened to the public, in celebration of its official inauguration by President Abdel-Fattah El-Sisi.

Egypt Kicks Off FY 2020/21 with Largest-Ever State Budget

Egypt's Ministry of Finance kicked off the FY 2020/21 state budget on July 1, estimated at EGP 2.2 trn, marking the largest in the country's history.

Work in Full Swing at New Mansoura’s JANNA, Sakan Misr

New Mansoura sees about 11,232 residential units (468 buildings) in the JANNA luxury housing project 75% completed, while 4,704 apartments (196 buildings) are 90% finished in the city’s Sakan Misr medium-income project.

Gov’t Delivers Almost 800 Social Housing Units in New October

West Cairo's New October City is witnessing the gradual handover of 792 social housing units in the 800-acre neighborhood.

El-Sisi Virtually Inaugurates New Capital, Sphinx Airports

President Abdel-Fattah El-Sisi inaugurated the long-awaited Capital International Airport and Sphinx International Airport via video conference on June 29, both coming to help to relieve pressure on Cairo's existing hub.

Egypt’s Housing Minister Returns to Office After 14-Day Self-Isolation

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has left his home for the first time in almost two weeks and returned to office, after self-isolating due to exposure to a COVID-19 carrier on June 11.

IMF Nods Egypt’s USD 5.2 bn Standby Loan

Egypt to turn once again to the International Monetary Fund (IMF), which on June 26 agreed to the former's request for a one-year, USD 5.2 bn (EGP 84 bn) financing package, as the country's economy reels from the Coronavirus financial fallout.

Cabinet Nod on Private Sector Involvement in Social Housing to Soon be Sought

Ministry of Housing, Utilities, and Urban Communities said the foundations and determinants for the involvement of private developers in social housing projects have been finalized.

CBE Leaves Rates on Hold for 3rd Time in a Row

The Central Bank of Egypt (CBE) has left interest rates stationary for the third consecutive meeting, citing lowered inflation rates, enhanced global financial conditions, and expectations of an economic recovery.

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