News / Government

El Gazzar Holds Meeting to Discuss New Mechanisms for Social Housing

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has met with a delegation from the World Bank (WB) and Egyptian real estate developers to discuss new mechanisms to involve the latter in the implementation of social housing projects.

Gov’t Officials Agree to Raise Mortgages by EGP 40 bn

Mortgage Finance Fund's (MFF) board of directors have signed a cooperation protocol with the finance ministry to raise the value of mortgages provided to low-income citizens by an additional EGP 40 bn, bringing the total funding to up to EGP 60 bn.

Housing Minister Checks Out New Alamein for Latest Updates

The first phase of New Alamein’s seven-kilometer corniche is 85% completed, while construction works have already begun on 12,000 housing units in the new city's Latin Quarter.

Housing Ministry, Developers Will Soon Meet to Review Real Estate Development Bill

Egyptian real estate developers and the Ministry of Housing will meet by March-end to discuss the draft law of real estate development bill, which stipulates the establishment of a federation for property developers and set up a fund to hedge against sector-related risks.

Egypt’s Urban Inflation Rises to 14.4% in February

The Central Agency for Public Mobilization and Statistics (CAPMAS) has reported that the annual headline inflation rate reached 14.4% in February 2019, compared to 12.7% in the prior month.

Deputy Minister Talks to Foreign Media on MIPIM Sidelines

Khaled Abbas, deputy minister of housing for national projects, said real estate investment in Egypt is one of the promising sectors, while referring to the new cities being implemented by the state, including the New Administrative Capital (NAC), New Alamein, New Mansoura, El Galala City, amongst others.

Sadat City to Boast 50-Acre Tourism Project

The New Urban Communities Authority’s (NUCA) board has approved the allocation of a 50-acre plot in Sadat City to Egypt's tourism investment company Cairo Grand Park for the establishment a new tourism project.

Gov’t Implements 2,946 Units in New Aswan: Minister

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has revealed that a total of 66 fully-finished villas and 2,880 social housing units are being developed in New Aswan's 1,050-acre tourist strip.

GAFI Plans to Establish 12 Free Zones Across Egypt

The General Authority for Investment and Free Zones (GAFI) is currently studying the establishment of 12 new investment zones in a number of governorates in Egypt

Madbouly Maps Out Priority Areas for Development in Egypt

Prime Minister Mostafa Madbouly Cabinet issued a decision that maps out priority areas in Upper Egypt that are in need of the Upper Egypt Development Authority’s attention

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