News / Government

Gov’t Plans to Establish 400,000 Units in NAC by Mid-2020

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has announced plans to finalize the construction and operational works of more than 40,000 residential units in the New Administrative Capital (NAC), in addition to a number of utility and service projects, by the end of June 2020.

Net Foreign Reserves Hit USD 44.06 bn by February-End: CBE

The Central Bank of Egypt (CBE) announced on March 4 that the net foreign reserves surged to USD 44.060 bn at the end of February, up from USD 42.616 bn a month earlier

Concrete Works at Africa’s Tallest Building Begin: Minister

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar said works started on installing the reinforced concrete for the foundations of Iconic Tower, Africa’s tallest building in the New Administrative Capital (NAC)

AIIB’s Loan Approved for Rural Sanitation Services

Egyptian parliament's Housing Committee approved on March 2 presidential decree no. 43 of 2019 for the Asian Infrastructure Investment Bank's (AIIB) loan to improve rural sanitation services.

Over 500 Distinguished Units Reserved in New Alamein: Official

Deputy Chairman of New Urban Communities Authority (NUCA) for Real Estate and Commercial Affairs Tarek El Sebai has revealed that 536 distinguished units have been reserved in New Alamein's social housing project

CBE Sets New Measures for Mortgage Finance Initiative

The Central Bank of Egypt (CBE) has put in place new policies and measures on the bank's mortgage finance initiative and its subsequent amendments, limiting it to financing low-income citizens only.

New Cities’ Authorities Witness Reshuffle

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has issued a ministerial decision for the reshuffle of heads of the new cities' authorities.

El Gazzar Reviews Real Estate Development Bill

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has met with members of the housing committee as well as real estate developers to discuss the draft law regulating real estate development activity.

Draft Law for Real Estate Development Should be Finalized in 2M: PM

Prime Minister Mostafa Madbouly gave directives to quickly finish the draft law that will regulate the real estate development activity within two months.

CBE Lowers Interest Rates by 1%

The Central Bank of Egypt (CBE) announced that its Monetary Policy Committee (MPC) decided to cut interest rates by 1%

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