News / Government

Gov’t Unveils Requirements for Granting Residency to Foreign Homebuyers

Deputy Minister of Housing for National Projects Khaled Abbas unveiled on November 4 the necessary requirements for foreigners who will be granted the Egyptian residency in return for purchasing a real estate property

IMF Agrees on USD 2 bn Disbursement to Egypt

The International Monetary Fund (IMF) said on October 31 it had reached a staff-level agreement with Egypt to disburse another USD 2 bn in funds, bringing the total disbursements under the program to nearly USD 10 bn, out of the country's USD 12 billion extended fund facility arrangement

Egypt Seeks 10% GDP Growth by FY 2029/30: Minister

Planning Minister Hala El-Saeed said on October 31 that the government is seeking to achieve a growth rate of 10% in the country's GDP by the end of FY 2029/30

Sheikh Zayed Central Garden Will Soon Open to the Public: Madbouly

Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly announced on October 25 that ministry has finalized the central garden in Sheikh Zayed city and is currently being prepared for public opening

Madbouly, World Bank Discuss USD 500 mn Social Housing Loan

Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly met a World Bank delegation on October 26 to discuss providing USD 500 mn loan he had requested from the bank in July to support the country's social housing development

Gov’t to Deliver Over 7,000 Units in JANNA Housing Project

The New Urban Communities Authority (NUCA) announced on October 9 that over 7,000 residential units will be open for reservation at JANNA luxury housing project, starting October 14.

Invest-Gate Gains Ground With its 2nd Real Estate Roundtable

Held under the auspices of the Minister of Housing, Utilities & Urban Communities, Invest-Gate hosted its second roundtable "Real Estate Tourism Development" on October 23 and was successfully received

Investments in New Damietta Hit EGP 7.2 bn: Madbouly

Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly said the total investments in New Damietta reached EGP 7.2 bn, with about 984 distinguished housing units will soon be finalized and offered shortly afterwards

Gov’t Approves New Social Housing Fund’s Operating Procedures

The board of directors of the Social Housing and Mortgage Finance Fund has approved the fund's operating procedures manual, targeting to provide low-income citizens with real estate financing at a low interest rate

Gov’t to Invest EGP 508 mn to Develop Cultural Sector

Planning Minister Hala El-Saeed said the government has allocated EGP 508 mn for developing the country's cultural sector as part of its plan for FY 2018/2019, representing a 14% increase from the prior fiscal year

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