Minister of Investment and International Cooperation Sahar Nasr officially inaugurated on December 5 Majid Al Futtaim's "City Centre Almaza," which is developed with investments amounted to USD 580 mn (EGP 9.35 bn)
Billionaire business tycoon Samih Sawiris, through his Raiffeisen Touristik (RT) Group, has acquired the German travel agency franchise system of Thomas Cook, after the latter reported a major drop in sales and went bankrupt in late September.
Orascom Investment Holding (OIH) turned to losses to incur EGP 92.4 mn in the first nine months of 2019, despite posting profits of EGP 1.07 bn during the same period, including minority rights.
Egypt’s New Urban Communities Authority (NUCA) has concluded a securitization bond issue worth EGP 4 bn to finance a number of its underway megaprojects cross-country
Hassan Allam Holding (HAH) has signed an agreement with the European Bank for Reconstruction and Development (EBRD) for a USD 20 mn loan to support the construction and utility sectors in Egypt.
Nearly 2,050 industrial opportunities are now available on the state's online unified industrial investment map, which was introduced back in September in a bid to promote the sector as one of the key pillars of the national economy.
Egypt and the UAE have agreed to establish a USD 20 bn (EGP 322.6 bn) joint strategic investment platform, funded equally by the state-run Abu Dhabi Development Holding Company (ADDHC) and the Egyptian newly-introduced sovereign wealth fund, Tharaa.
Chinese hotel operator Huazhu Group has reached an agreement to acquire all shares of German-based hotel group Deutsche Hospitality through the former's wholly-owned subsidiary China Lodging Holding Singapore
The General Authority for Investment and Free Zones (GAFI) will extend new facilities to investors who earlier purchased the booklets of conditions for 107 specialized industrial units in Mit Ghamr Investment Zone, Dakahlia Governorate.
Egypt continues to be Africa's largest recipient of foreign direct investment (FDI) flows in H1 2019, attracting USD 3.6 bn (EGP 58.2 bn), thanks to the new investment deals that have been recently announced
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