News / Government

UAE Becomes 1st Country to Offer E-Mortgage Services

Abu Dhabi City Municipality (ADM) and Abu Dhabi Islamic Bank (ADIB) have collaborated to launch the first global digital mortgage certificate on August 26, making the UAE the first in the world to offer online real estate services through a smart services hub

Six Contractors to Build Latin Neighborhood in New Alamein

Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly revealed that six contracting companies will build a neighborhood in New Alamein inspired by the ancient classic Alexandrian style

New Garden City to be Built in New Capital: Madbouly

Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly revealed that the R5 district, to be named the New Garden City, will be built on an area of 1,000 acres in the New Administrative Capital

Egypt Aims to Attract USD 11 bn FDIs in FY 2018/19

Egypt’s Planning Minister Hala El-Saeed said on Wednesday, August 22, that the country aims to raise its foreign direct investments (FDIs) to USD 11 bn in FY 2018/19, up from USD 7.9 bn in the prior-year period

Egypt Licenses Single-Shareholder Companies

Egypt’s Minister of Investment and International Cooperation Sahar Nasr has signed on August 15 the regulatory framework for licensing single-shareholder companies, under the framework of amending the economic legislative structure

CBE Keeps Overnight Interest Rates Unchanged

The Central Bank of Egypt (CBE) decided to keep overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 16.75 %, 17.75 %, and 17.25 %, respectively

Gov’t to Deliver Over 500 Units in New Damietta

Prime Minister and Minister of Housing, Utilities, and Urban Development, Mostafa Madbouly, has revealed that New Damietta Development Authority is going to deliver 504 units as part of Dar Misr project in the city starting from Sunday, September 16

NUCA, Al Futtaim Sign Protocol to Establish Commercial Hubs in Egypt

The New Urban Communities Authority (NUCA) and Majid Al Futtaim have signed a protocol of cooperation for the establishment and management of commercial hubs in the new cities of NUCA

Final Stage of Reserving New Capital Units Has Began: Madbouly

Prime Minister Mostafa Madbouly, who is also the Minister of Housing, Utilities, and Urban Development, announced that the final step for the electronic booking of the Capital Residence compound, in the New Administrative Capital, began on Sunday, August 12 and will continue until Saturday, August 18 - or until all units are booked

Cabinet Approves Amendments to Real Estate Tax Law

Egypt's Cabinet, headed by Prime Minister Mostafa Madbouly, has discussed several issues including the implementation of the real estate tax and its valuation

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