News / Investment

NAC’s Smart City Costs EGP 30 bn: ACUD’s Chairman

Chairman of the Administrative Capital for Urban Development (ACUD) Ahmed Zaki Abdeen said that the expected cost of establishing a smart city inside the New Administrative Capital (NAC) stands at EGP 30 bn

Emaar Kicks Off Business Development Operations in China

Dubai-based property developer Emaar announced on December 11 the launch of its business development operations in China during the Chinese President Xi Jinping's visit to the UAE.

EFG Hermes to Set Foot in Insurance, Mortgage Sectors

Egypt's investment bank EFG Hermes is planning to expand by adding insurance and mortgage lending to its services after getting regulatory approval, while also seeking to set foot in a new market in Asia or Africa within a year

Oriental Weavers to Build New Industrial City in Ain Sokhna

Egypt-based Oriental Weavers Company has begun constructing a new industrial city in Ain Sokhna "Masnaay," to be developed and managed by its subsidiary Orientals for Industrial Development and would cater to both small and medium enterprises (SMEs) and heavy industries

Lebanese Investments in Egypt Hit USD 671 mn by June-End: Minister

Egyptian Minister of Investment and International Cooperation Sahar Nasr said the volume of Lebanese investments in Egypt reached USD 670 mn by end of June 2018, reflecting the activity of about 1,645 companies in the sectors of services, industry, construction, petroleum, tourism, and agriculture

Aqarmap Enables Buying Properties Via Credit Card

Egypt’s online real estate listing platform Aqarmap announced on November 20 that it has successfully started selling properties online by allowing buyers to pay a downpayment with their credit cards to withhold exclusively discounted units

MENA Deal Value Hike 105% in Q3 2018: EY

Consultancy firm EY said in its latest report that the value of merger and acquisition (M&A) deals with disclosed value in the MENA region surged by 105% YoY to USD 10 bn in Q3 of 2018 from USD 4.9 bn in the year-ago period, despite the number of deals has dropped 3% from 110 deals in Q3 2017 to 107 deals this year

EFG Hermes’ NBFIs Platform Generates Revenues of EGP 286 mn in Q3

Egypt's EFG Hermes Holding's Non-Bank Financial Institutions (NBFIs) platform maintained its remarkable rate of expansion, growing at 81% YoY to record revenues of EGP 286 mn in Q3 2018, with Tanmeyah Micro Enterprise Services (Tanmeyah) being the main contributor to the surge

Housing Ministry Inks MoU With Global Firm for New Projects in New Alamein

The Egyptian housing ministry has signed a memorandum of understanding (MoU) with global hospitality group Nikki Beach Hotels to operate and manage a hotel resort as well as a residential project in New Alamein, in a bid to increase the number of foreign investments and developments in the new coastal city

Egyptian-American Enterprise Fund to Inject USD 3 mn in Dawi Clinics

The Egyptian-American Enterprise Fund (EAEF) and Dawi Clinics (Dawi) announced on November 12 that EAEF will inject USD 3 mn into the Egyptian-based chain of outpatient clinics, "a strategic step taken by the two entities to support the growth of Egypt’s healthcare sector" and is part of their plans to expand across the country

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