News / Investment

EUR 41.5 mn German KfW Loan to Boost Egypt’s Vocational Education

Ministry of Education and Germany’s KfW Development Bank have agreed on EUR 41.5 mn (EGP 750.5 min) deal to boost and upgrade multiple vocational and applied technology education schools in Egypt.

The United Bank Grants EGP 130 mn Mortgages in H1: Official

Head of Real Estate Finance Sector at The United Bank of Egypt Ayman Mohamed has affirmed that 1,000 clients were granted EGP 130 mn worth of mortgage financing in H1 2020.

EIB Endows EUR 122.7 mn for Egypt’s Sanitation, Transport Sectors

Egypt has approved three funding agreements with the European Investment Bank (EIB) to finance local sanitation and transportation sectors at a combined value of EUR 122.7 mn (EGP 2.23 bn).

Sales of Offices & Commercial Spaces to Drop Due to Crisis: Ezz El-Din

Al Futtaim Group Real Estate Managing Director Ashraf Ezz El-Din said sales of administrative/commercial spaces will drop in the coming period, due to an upward trend for leasing to have the flexibility of changing spaces whenever necessary.

PepsiCo. Egypt Plans to Pump Up to USD 515 mn by 2021

Chairman and CEO of PepsiCo. Egypt Mohamed Shelbaya has asserted the company’s commitment to pump new investments in the Egyptian market up to USD 515 mn from 2018 till 2021, including USD 100 mn in 2020 only.

P&O Marinas Pledges to Shake Up Dubai’s Mina Rashid Marina

P&O Marinas has signed an agreement with Pindar Yacht Management (PYM) to shake up the former's Dubai-based development, Mina Rashid Marina, and develop a wide range of all-embracing world-class marine leisure services.

Old Cairo’s Bab Al-Azab Revamp to Get Underway

The Sovereign Fund of Egypt (SFE) has signed an agreement with the Supreme Council of Antiquities (SCA) to kick off plans to develop and operate Old Cairo's Bab Al-Azab landmark into a tourist area, in partnership with private investors.

Egypt to Establish Largest Fibre Optic Factory in MENA

State-run Arab Organization for Industrialization (AOI) and Benya Capital, a telecom and technology solutions provider, have joined forces to establish the largest fiber optic cable factory in Egypt and MENA, with a total investment of more than EGP 1 bn, at the Suez Canal Economic Zone (SCZone).

GAFI Nods to 103 Projects in City Centre Almaza’s Free Zone

Mohamed Abdel Wahab, executive director of the General Authority for Investment and Free Zones (GAFI), approved a total of 103 projects within the investment zone of City Centre Almaza.

Moody’s Keeps Egypt’s Credit Rating At B2

The credit profile of Egypt rating at B2 is supported by A3 economic strength according to Moody’s report, as reported by Ahram Online.

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