News / Government

Parliament Preliminary Approves Draft Law on Reconciliation in Building Violations

Egyptian parliament’s General Committee gave preliminary approval for the draft law on reconciliation in building violations on January 25, which is expected to provide the government with about EGP 150 bn when issued.

Sphinx Int’l Airport Witnesses First Run of Domestic Flights

Ministers of Civil Aviation and Tourism witnessed the experimental operation of domestic flights for the first time from Sphinx International Airport, west Cairo, which began on January 25 and set to last until February 9, in a bid to boost the country's tourism.

Housing Committee to Discuss Real Estate Development Bill

The House of Representatives’ Housing Committee will discuss on January 28 a draft law to regulate real estate development and to establish a federation for real estate developers.

Gov’t Approves Operations of 4 Lulu Hypermarkets, Other Projects

The New Urban Communities Authority's (NUCA) board of directors approved on January 21 a contract with the Internal Trade Development Authority (ITDA) and UAE-based Lulu Hypermarket to manage and operate four new hypermarkets across Egypt.

Egypt to Begin Work on Africa’s Tallest Building Within Days: PM

Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly has revealed that the foundations for Africa’s tallest building, a 385-meter tower, in the New Administrative Capital (NAC) will be poured within days and continuously over 80 hours

NUCA Invested EGP 5 trn in 4 Years: Official

Assistant Minister of Housing for the Affairs of the New Urban Communities Authority (NUCA) Waleed Abbas said the authority has developed 375 real estate projects in different cities with investments of EGP 5 trn over four years.

New Real Estate Firm Launched With EGP 300 mn Capital

Ministry of Investment and International Cooperation has announced the launch of two new companies at an issued capital of EGP 400 mn between January 3 and 9, including a new real estate company named Tharwa for Real Estate Development

Madbouly Visits 1st Batch of Villas in New Garden City

Minister of Housing, Utilities and Urban Communities, Moustafa Madbouly visited the first batch of finished villas in the New Administrative Capital’s (NAC’s) R5 residential district named New Garden City.

Net FDIs in Real Estate Reach USD 237.4 mn: CBE

Investments in the oil and real estate sectors accounted for the lion’s share of net foreign direct investments (FDIs) in Egypt during the first quarter of FY 2017/18.

Annual Headline Inflation Drops to 12% in December: CBE

The Central Bank of Egypt (CBE) has announced that Egypt's annual headline inflation rate fell to 12% in December 2018, down from 15.7% in November of the same year, following a decrease in fruits and vegetable prices

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