News / Government

Saudi Arabia Expected to Take 35% Stake in Saudi Bin Laden Group: Reuters

The stake represents the total shares of SBG’s Chairman Bakr Bin Laden and his brothers Saleh and Saad, whom were all detained in an anti-corruption crackdown in November alongside numerous businessmen, officials and princes

Egypt Receives Third, Final USD 1.15 bn of World Bank’s USD 3.15 bn Loan

The bank’s board of executive directors had approved the disbursal in December, to conclude a series of three annual loans issued by the bank to Egypt between 2015 and 2017, in efforts to support the country’s economic reform program

Gov’t to Deliver 456 Units in Dar Misr Phase 1 in Sadat, Obour Cities

Minister of Housing Mostafa Madbouly announced that 360 and 96 housing units are ready to be delivered in the first phase of the middle-income project “Dar Misr” in Sadat and Obour Cities respectively

Gov’t Delivers 192 Units in Dar Misr I in New Damietta

Minister of Housing Mostafa Madbouly announced that the New Damietta City Authority (NDCA) began on March 6 the delivery of 192 housing units in the first phase of the middle-income project "Dar Misr"

Egypt’s Sisi Inaugurates New Al-Alamein City

President Abdel-Fattah El-Sisi inaugurated the New Al-Alamein City project, one of the fourth generation cities being built in Egypt, on March 1

Gov’t Sets EGP 481.7 mn to Develop Unsafe Areas in Port Said

The Informal Settlements Development Fund (ISDF), affiliated to the Housing Ministry, is developing five unsafe slum areas in Port Said governorate

Minister of Housing Announces EGP 85 bn Budget for 2018/19, Largest in NUCA History

Minister of Housing Mostafa Madbouly announced the largest budget for the New Urban Communities Authority (NUCA) in its history, amounting to EGP 85 bn for the fiscal year 2018/2019, during his meeting with NUCA’s Board of Directors

Dubai Registers 150 Real Estate Projects Worth USD 22.34 bn in 2017

The Dubai Land Department (DLD) announced that 90 projects were completed and 150 projects worth USD 22.34 bn were registered in Dubai in 2017

Saudi Arabia to Invest USD 64 bn in the Entertainment Sector

Saudi Arabia plans to invest USD 64 bn in developing its entertainment sector over the next decade, Ahmed Bin Aqeel Al-Khatib, chairman of the Saudi General Entertainment Authority (GEA) said

Egypt, InterContinental Hotels Groups Sign Deal to Manage 100 Tourist Rooms at New Alamein

Housing Minster Mostafa Madbouly held a meeting with Pascal Goven, chief executive officer of InterContinental Hotels and Resorts in India, Middle East and Africa (IHG) on Monday, agreeing to sign a cooperation protocol which will allow InterContinental, Holiday Inn and Stay Bridge Suites Cairo-Citystars to manage 100 tourist rooms in New Alamein city

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