Badr City will see 9,024 apartments completed by next August for the first batch of government employees to move to the New Administrative Capital (NAC) once the ministerial district is up and running, Invest-Gate reports.
The Central Bank of Egypt (CBE) has decided to broaden the base of beneficiaries of its EGP 100 bn industry stimulus initiative to include the contracting sector.
Construction at the New Administrative Capital (NAC) is moving forward in full swing, with work being stretched over two shifts and a 70% labor force present on-site.
As Egypt seeks relief for the tourism sector, a range of health and safety requirements has been released by the government to be embraced by hoteliers to safely welcome back guests and employees, while also guarding against Coronavirus spread.
The Central Bank of Egypt (CBE) has decided to keep overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 9.25%, 10.25%, and 9.75%, respectively.
Egypt received USD 2.8 bn from the International Monetary Fund’s (IMF) Rapid Financing Instrument on May 12, the Middle East News Agency (MENA) reports.
Phase II of Maspero Triangle Development Project is on the verge to commence, proceeding in line with the planned intensive implementation timelines
Minister of Housing, Utilities, and Urban Communities Assem El Gazzar said a total of EGP 243 bn is required to implement Egypt's Social Housing Program, which involves the establishment of 1 mn units.
Egypt has signed off on suspending the issuance of building permits for new housing units in Cairo, Giza, Qalyubia, and Alexandria for six months.
Egypt's Ministry of Finance has agreed to present EGP 3 bn in funding provided by the Central Bank of Egypt (CBE) to state banks for soft loans to tourist and hotel establishments at 5% annual interest, in a bid to contain the COVID-19 fallout.
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