News / Government

Egypt, Germany Sign Cooperation Agreements Worth EUR 150.5 mn

Egypt and Germany signed on December 23 two agreements worth EUR 150.5 mn for the technical and financial cooperation between the two countries

Sisi Inaugurates Bashayer El-Khair 2 in Alexandria

President Abdel-Fattah El-Sisi inaugurated on December 26 the residential complex "Bashayer El-Khair 2," in Gheit El-Enab region, Alexandria

No Disputes With China’s CSCEC Over NAC’s Towers Project: Housing Ministry

The Egyptian Housing Ministry has disclaimed news published on Al Shorouk newspaper concerning some disputes with the ministry and China State Construction Engineering (CSCE) over the New Administrative Capital's (NAC) skyscrapers project, confirming that work on site is progressing according to the set timetable

Real Estate Tax Law to be Issued Within 1 M: Official

Head of Parliament's Housing Committee Alaa Waly officially stated to Invest-Gate that Egypt's real estate tax law has been approved and will be issued within a month.

Exclusive: Africa’s Highest Skyscraper in NAC to be Managed by Raffles

Deputy Minister of Housing for National Projects Khaled Abbas has exclusively revealed to Invest-Gate that the ministry will soon announce its partnership with leading global hospitality company Raffles, which will manage Africa's highest skyscraper in the New Administrative Capital (NAC)

NUCA to Terminate Deal With New Alamein Contractor

Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly has requested the New Urban Communities Authority (NUCA) to terminate a deal with one of the contractors implementing projects in New Alamein, due to its failure to adhere to the set timetables and quality of implementation

Egyptian Expats’ Remittances Rise 8% in 10 M

The Central Bank of Egypt (CBE) has announced that remittances from Egyptian expats, one of the country’s main sources of foreign currency, rose 8% YoY during the first ten months of 2018 to reach USD 21.4 bn, up from USD 19.8 bn in the corresponding period of 2017

Egypt, KSA Ink Deal for Young Entrepreneurs in Tourism Field

Tourism Minister Rania Al Mashat has inked a deal with President of the Saudi Commission for Tourism and National Heritage (SCTH) Prince Sultan bin Salman bin Abdul Aziz on supporting the Arab young entrepreneurs in the tourism field

Fitch Solutions Sees Egypt’s Fiscal Deficit Shrinking to 6.4% of GDP by FY 2019/20

Giant financial services provider Fitch Solutions said it anticipates Egypt's fiscal deficit to shrink from an estimated 9.4% of GDP in FY 2017/18 to 7.8% and 6.4% of GDP in FY 2018/19 and FY 2019/20, respectively

Sisi Tours Some Development Projects at El Galala City

President Abdel-Fattah El-Sisi has embarked on an inspection tour of a number of mega development projects being implemented at El Galala City in the northeastern governorate of Suez, Ain Sokhna

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