News / Investment

OIH’s Subsidiary to Continue Operating in North Korea

Orascom Investment Holding (OIH) has sought an exemption from the Security Council to operate its subsidiary Koryolink venture in North Korea, which excludes it from a ban on foreign investment in the country.

ALDAU Development Pumps EGP 3 bn in Hurghada

Egypt’s hospitality and property developer ALDAU Development, member of Sami Saad Holding, has unveiled its plans to invest EGP 3 bn in its projects in Red Sea's Hurghada, while aiming to set up a new hotel and condominium complex in 6th of October City, west Cairo, during the forthcoming period.

EFG Hermes Leasing, HSBC Egypt Team Up to Finance SMEs’ Capital Expansions

EFG Hermes Leasing, a subsidiary of Egypt's investment bank EFG Hermes, has signed a cooperation agreement with HSBC Bank Egypt to provide small- and medium-sized enterprises’ (SMEs) with EGP 400 mn in leasing and financing services throughout 2019.

GAFI Eyes Establishing 19 Free Zones Across Egypt

The General Authority for Investment and Free Zones (GAFI) is currently considering the establishment of 19 new free zones, in some governorates which will contribute towards boosting investor services in Egypt

UAE’s Rotana to Run Five-Star Hotel, Hotel Apartments in Nairobi

Abu Dhabi's hotel group Rotana has signed a hotel management agreement with Mullion Contractors Limited to manage a new five-star hotel and hotel apartments in Nairobi, Kenya’s capital city, attempting to further expand its footprint in the African market

Savills Appoints New Country Head to Lead its Launch in Egypt

International property advisor Savills has kicked off its operations in Egypt and appointed Catesby Langer-Paget as the new head of Egypt, aiming to expand "its regional presence into Egypt at a time where an influx of industry reports is emerging to highlight the great growth potential of the Egyptian real estate market"

EFG Hermes’ Egypt Education Fund 1st Close Oversubscribed With USD 119 mn

Egyptian investment bank EFG Hermes has announced that its Egypt Education Fund, focused on the country’s K-12 sector, was oversubscribed with total investments of USD 119 mn in its first close - through its private equity arm - exceeding the initially targeted USD 50-100 mn

Marakez, Al-Futtaim Misr to Open West Cairo’s 1st IKEA Store by 2020

Marakez for Real Estate Investment, a subsidiary of Fawaz Al Hokair Group, has signed a long-term agreement with Al-Futtaim Misr for Retail to open a new IKEA store at the Mall of Arabia in West Cairo by 2020

The Walk Launches New Service for Doctors

Constructa for Design, Construction, and Project Management launched on December 17 a new service called "Triple S" at The Walk shopping mall, allowing doctors to rent their clinics for EGP 24 per hour and only pay for the hours they use

China’s CFLD Plans to Invest USD 20 bn in Egypt Halted: Officials

Officials in charge of delivering a USD 20 bn development in the New Administrative Capital (NAC) said two years of talks with China Fortune Land Development (CFLD) have halted following financial disagreements between the two parties

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