News / Investment

Gov’t to Invest EGP 2.4 bn in Obour City in FY2018/19

Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly has revealed that the budget allocated for Obour City is estimated at EGP 2.4 bn in the FY 2018/19

Dubai’s Jumeirah Group Launches Luxury Hotel in China

Dubai-based hospitality company Jumeirah Group announced the launch of its newest top-notch hotel Jumeirah Nanjing in the capital of China’s eastern province of Jiangsu, capturing Nanjing’s blend of traditional and cosmopolitan style

Investments in New Assiut Reach Over EGP 4 bn

New Assiut City has witnessed investments worth EGP 4.1 bn so far, while a total of EGP 247 mn has been allocated for the city in FY2018/19 budget

Egypt Named Country of Honor at Cityscape Global 2018

Egypt has been named the country of honor at the 2018 edition of Cityscape Global, which will take place at the Dubai World Trade Center from October 2 to 4

Investments in Free Zones Reached USD 26 bn by End-July: Minister

Egypt’s Minister of Investment and International Cooperation Sahar Nasr said that the total investments to the free zones of the General Authority for Investment and Free Zones (GAFI) reached USD 26 bn in July, with the projects' capital standing at USD 11.3 bn, including USD 2.1 bn of foreign direct investments (FDIs)

Net Foreign Reserves Increase to USD 44.4 bn in August: CBE

Net foreign reserves at the Central Bank of Egypt (CBE) increased to USD 44.42 bn at the end of August, an increase of USD 104.3 bn versus USD 44.315 bn at the end of July

Gov’t to Invest EGP 275 bn in Sinai Until 2022: Planning Minister

Egypt’s Planning Minister Hala El-Saeed said on Tuesday, August 28, that the state has allocated nearly EGP 275 bn for the development of the Sinai Peninsula until 2022

Moody’s Changes Outlook on Egypt’s Ratings to Positive

Moody's Investors Service, a leading credit rating agency, has changed the outlook Egypt's long-term issuer ratings to positive from stable and has affirmed the B3 issuer ratings

UN-Habitat to Develop New Waterfront City in Egypt

The UN-Habitat Egypt has signed a contribution agreement with the New Urban Communities Authority (NUCA) and the Egyptian General Organization for Physical Planning (GOPP) to set a conceptual plan for the development of a waterfront city in Egypt's Northern Coast

IFC Invests USD 1.2 bn in Egypt in FY 2018

International Finance Corporation (IFC), a member of the World Bank Group, has invested  USD 1.2 bn in Egypt during the 2018 fiscal year (FY), which helped in creating jobs, developing local infrastructure, and consolidating the country’s economic growth

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