News / Investment

EGX Imposes EGP 25,000 Penalty on Global Telecom Holding

The EGX’s Listing Committee imposed an EGP 25,000 penalty on Global Telecom Holding due to a violation of Article 27 of the Listing Rules.

EFSA Issues First Egyptian Standards for Buildings’ Financial Evaluation

The ِEgyptian Financial Supervisory Authority (EFSA) issued the first Egyptian standards for the financial evaluation of buildings on January 24.

SCZone Aims for World’s Best 7 Investment Destinations in 2035

The General Authority for Suez Canal Economic Zone (SCZone) is targeting to become one the best seven investment destination in 2035 worldwide by making use of facilities, customs tax exemptions, and other measures that make it a competitive economic destination, Invest-Gate reports.

Ministry of Investment Displeased on Egypt’s 2017’s WEF IDI Ran

Egypt was ranked 73rd out of 79 developing economies in the World Economic Forum’s Inclusive Growth Development Index (IDI) for 2017 released on January 23, which was later met with backlash by the Ministry of Investment.

PHD to develop newly acquired land, 6 October

Palm Hills Development PHD acquired 190 acres of land from the Egyptian Ministry of Housing located adjacent to the Company's existing developments in West Cairo, including Palm Hills Golf Views and Golf Extension

Dalia Khorshid meets with Al Futtaim, Lazard and Others

The Minister of Investment Dalia Khorshid met with the Emirati Omar Al Futtaim Group and the CEOs of Lazard, Credit Suisse, and Citybank on January 20, at the World Economic Forum in Davos, Switzerland

IMF Predicts Egypt’s Inflation to Fall This Year

The International Monetary Fund IMF predicts Egypt's inflation to drop during the second quarter of 2017, state owned news portal, Ahram Online reported

Alhafda Egypt-Kuwait to Invest EGP 1 bn in 2017, Administrative Capital

Alhafda Egypt-Kuwait for Construction and Décor is to invest a sum of EGP 1 bn on residential projects at the Administrative Capital and the new cities in 2017, Al Borsa reports

Commercial Units to be Offered at Auction, New Damietta and Badr City

Six stores and a pharmacy, ranging from 15 to 33 square meters will be put up for auction in the average housing market "Dar Egypt,” announced Adel ElDesouqy, head of the Authority for Developing Badr, Ministry of Housing, Utilities, and Urban Development announced

Tourism Sector to Flourish more than Residential, Office Sectors in 2017

The recent EGP float has resulted in a 23% inflation, which is expected to increase to 25%, affecting the prices of residential units which have increased by 30%, according to JLL’s Head of MENA Research Craig Plumb who spoke at Cityscape’s Business Breakfast today about Egypt’s accomplishments in the real estate sector in Q4 of 2016 and the upcoming economic challenges that will meet the residential, tourism, retail, and office sectors.

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