News / Government

Net Foreign Reserves Hit USD 44.218 bn by End-April: CBE

The Central Bank of Egypt (CBE) announced on May 5 that the country’s net foreign reserves surged to USD 44.218 bn at end-April, compared to USD 44.030 bn in the prior-year period.

Egypt Inks USD 3 bn Loan Deal with Chinese Bank for NAC Business Zone

Egypt signed on April 28 a USD 3 bn loan with the Industrial and Commercial Bank of China (ICBC) to finance the designing and establishment of the Central Business District (CBD) in the New Administrative Capital (NAC), east Cairo.

NUCA Allocates 113 Plots in 24 New Cities in 2018

The New Urban Communities Authority (NUCA) has allocated 113 plots, with a total area of 2,530 acres, in 24 new cities during 2018, in a bid to meet the country's investment demands and accelerate the development of new cities

Sheikh Zayed’s JANNA Project to Offer 4,920 Units: Minister

Assem El Gazzar, minister of housing, utilities, and urban communities, has revealed that JANNA luxury housing project will boast 4,920 fully-finished residential units in west Cairo's Sheikh Zayed.

New Tiba Sees 6,912 Social Housing Units Completed

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar said a total of 6,912 social housing units, situated within 288 buildings, have been completed at New Tiba

Four New Schools Underway at El Shorouk City: Official

Head of El Shorouk City Authority Abdul Raouf El Gheity said the authority is currently building four new schools as part of its keenness to support the development of the city's education system.

ACUD Receives Over 10 Foreign Offers to Invest in NAC: Official

Khaled El Hosseini, spokesperson of the Administrative Capital for Urban Development (ACUD), has received more than ten offers by foreign companies to develop projects in the New Administrative Capital (NAC).

El Gazzar Says 15 Coastal Towers Underway in New Alamein

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar said 15 coastal towers are underway in New Alamein city, with up to 41 floors and comprising nearly 4,500 units, confirming that the towers' finishing works are being carried out in parallel with the construction works.

Gov’t Imposes Temporary Tariffs on Steel, Iron Imports

Egypt's Ministry of Finance has commenced the imposition of temporary fees of 15% on iron billets and 25% on steel rebar for 180 days, starting April 15.

Gov’t to Soon Finalize 707,000 Social Housing Units: Official

CEO of Mortgage Finance Fund (MFF) Mai Abdel Hamid has unveiled that a total of 707,000 social housing units are being finalized to accommodate 226,000 citizens, which will be complemented with 761,000 service projects.

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