News / Government

CBE to Provide Funding for Middle-Income Mortgages

The Central Bank of Egypt (CBE) will reintroduce subsidized mortgages worth EGP 50 bn for middle-income individuals, thereof, a committee of members from the bank, local banks, and real estate developers will be formed to discuss the specifics of financing.

Annual Headline Inflation Dips to 13% in April: CAPMAS

The Central Agency for Public Mobilization and Statistics (CAPMAS) has reported that Egypt's annual headline inflation rate dipped to 13% in April from 14.2% in the prior month.

El Gazzar Reviews Development of Unsafe Slums, Maspero Triangle

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar held a meeting on May 17 to follow up on the development of Egypt's unsafe informal areas as well as progress made with regards to Maspero Triangle Development Project.

Real Estate Chamber Studies Mechanism for Developers’ Participation in Social Housing

The Real Estate Development Chamber at the Federation of Egyptian Industries (FEI) is considering the mechanism of private real estate compnaies' participation in the development of low- and middle-income housing projects

Egypt’s Free Zone Exports Reach USD 6 bn in 4M: Minister

Minister of Investment and International Cooperation Sahar Nasr said on May 12 that exports of Egyptian free zones amounted to USD 6 bn during the first four months of 2019.

Gov’t Builds 15,936 Housing Units in New Mansoura’s JANNA, Sakan Misr

New Mansoura saw about 4,704 residential units, within 196 buildings, 79% completed in Sakan Misr medium-income project.

Sisi Approves EGP 11.415 mn Deal with China for Railway Project

Egyptian President Abdel Fattah El Sisi issued on May 9 a decree approving a framework agreement with China, under which Beijing will offer a soft loan not exceeding CNY 4.604 mn yuan (around EGP 11.415 mn) to Cairo.

Egyptian Real Estate Council Proposes Building Social Housing for Youth: Official

Chairman of Egyptian Real Estate Council (ERC) Adel Lotfy said a draft proposal has been completed for the development of social housing projects for young people in partnership with the government

UAE to Recieve Tenders for 250-Unit Residential Project

UAE-based Sheikh Zayed Housing Program has approved the launch of engineering consultancy tenders for the construction of a 250-unit residential neighborhood at Khor Fakkan in Sharjah’s eastern region.

Egypt Logs EGP 35.6 bn Initial Budget Surplus in 9M: Minister

The Egyptian government managed to record an initial budget surplus of EGP 35.6 bn during the first nine months of FY 2018/19.

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