News / Government

Cabinet Approves Amendments to Property Tax Law

Egypt's cabinet approved draft amendments to the Real Estate Tax Act, exempting idle land from property tax

CBE Leaves Interest Rates Unchanged in December

The Central Bank of Egypt (CBE) decided to maintain the overnight deposit rate at 12.25%, while the overnight lending rate remained unchanged at 13.25%

Annual Headline Inflation Doubles in December

Egypt’s annual headline inflation rate rose to 7.1% in December 2019, compared to 3.6% in November of the same year

Gov’t Implements 3 Towers for Maspero Triangle Dwellers

Executive Director of the Development Fund for Slums Khaled Siddiq said that work is ongoing on three residential towers in Maspero Triangle to welcome its former dwellers

Sadat City Sees 5,800 Housing Units 75% Ready

New Urban Communities Authority Communities' (NUCA) Vice President Kamal Bahgat said 5,800 social housing units in Sadat City had reached an execution rate of 75%.

Gov’t to Revitalize 15 Informal Areas in Suez

Suez Governor Abdel Mageed Saqar and Executive Director of the Informal Settlements Development Fund (ISDF) Khaled Siddiq have inked cooperation agreement to revitalize 15 slums in Suez.

Phase I of Badr City’s Sakan Misr Almost Complete: Minister

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has announced that phase I of Badr City's Sakan Misr middle-income project, which comprises 1,272 apartments, reached a completion rate of 96%.

New Damietta Sees Over 10,000 Units Done: Minister

Minister of Housing, Utilities, and Urban Communities Assam El Gazzar has confirmed that New Damietta witnessed the finalization of a total of 10,476 social housing units in 2019.

New Cairo Awaits 26,064 Sakan Misr, JANNA Units

The government is working on developing a total of 26,064 residential units in New Cairo's Sakan Misr and JANNA public housing projects, with investments estimated at EGP 9 bn

NUCA Directs EGP 33 bn for Urban Development in 6M

The New Urban Communities Authority (NUCA) pumped investments worth EGP 33 bn into different projects nationwide in the prior six months, planning to direct an additional EGP 44 bn by the end of July 2020.

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