News / Government

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

Gov’t to Deliver 288 Dar Misr Units in October Gardens Mid-July

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar announced on June 27 that 288 housing units, within 12 buildings, at the first phase of Dar Misr middle-income project in October Gardens, west Cairo, will be delivered to recipients starting July 18.

El Gazzar Says 4,704 Units at New Mansoura’s Sakan Misr 82% Done

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar said 4,704 housing units, spreading across 196 separate buildings, are 82% done at New Mansoura's Sakan Misr middle-income project

Egypt Approves Largest-Ever State Budget

Egypt’s parliament approved on June 24 the FY 2019/20 budget starting in July, with spending set at EGP 1.6 trn, up EGP 150 bn from the current fiscal year, marking the biggest state budget in the country's history.

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