News / Government

June Annual Headline Inflation Hits Lowest Level in 3 Yrs

The Central Agency for Public Mobilization and Statistics (CAPMAS) has indicated that Egypt's annual headline inflation has plummeted to 9.4% in June from 14.1% a month earlier for the first time in 2019 and the lowest since March 2016

New Tiba Wins ISO Certificate for Projects’ Quality

QAS International, one of the leading accreditation bodies, has awarded the New Tiba Development Authority with the International Management System Certification (ISO 45001), in recognition of its intense efforts and the implementation of high-quality projects within the new city.

Gov’t to Finalize Over 3,000 Units in West Assiut Next Month: Minister

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has revealed that a total of 3,024 units will be completed in Nasser City, west Assiut, by the end of August.

Non-Residents’ Property Purchases Reach USD 725.7 mn: CBE

The Central Bank of Egypt (CBE) said transfers by non-residents for real estate purchases in the country has spiked to USD 725.7 mn during the first nine months of FY 2018/19.

Gov’t Announces New Fuel Prices Under IMF Deal

Egypt’s petroleum ministry announced on July 5 raising fuel prices between 16% and 30%, marking the latest round of fuel subsidy cuts

NUCA Offers Booklets for 538 Units in NAC: Minister

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has announced offering reservation booklets for 538 luxury residential units in the New Administrative Capital's (NAC) R3 district as of July 1.

ACUD Denies Lands Withdrawal in New Capital

The Administrative Capital For Urban Development (ACUD) has officially denied news published on July 2 that it has sent out notifications of its intentions to withdraw lands in the New Administrative Capital (NAC) from 17 real estate companies.

DLD Unveils New Real Estate Investment Initiative

Dubai Land Department (DLD) has launched the Real Estate Investment Opportunities (REIOs) initiative, aiming to attract more investors from all economic sectors.

President Sisi Approves FY 2019/20 Budget: Official Gazette

The Egyptian official gazette has officially released that President Abdel-Fattah El-Sisi ratified the FY 2019/20 state budget, effective as of July.

New Damietta Sees Delivery of Over 3,716 Dar Misr Units: Official

Head of New Damietta Development Authority Mohamed Ragab said 2,616 and 1,100 residential units were handed over to beneficiaries at phase I and phase II of Dar Misr middle-income housing project, respectively, with more deliveries ongoing

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