News / Investment

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

Work Begins on USD 2 bn Saudi Heritage Project

Saudi Arabia has started working on its mega heritage tourism project Souq Okaz City in Taif, at an estimated cost of more than USD 2 bn

Fidu to Invest USD 103.25 mn in UAE Real Estate Market

Chinese company Fidu Properties has announced real estate deals with Emaar Properties worth USD 103.25 mn

IKEA to Open Second Store in Egypt

The second IKEA store is set to come to West Cairo as MARAKEZ for Real Estate Investment, a subsidiary of Saudi Arabia’s Fawaz Alhokair Group, recently signed a Memorandum of Understanding (MoU) with Al-Futtaim Misr for Retail to open the store at Mall of Arabia

CI Capital, Malaysian Bank Sign Brokerage Services Deal

Egypt’s CI Capital Holding, a diversified financial services group, signed on Sunday, June 24, an agreement with Malaysia-based Maybank Kim Eng to provide the latter’s clients with brokerage services,

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