News / Egypt

TOREC Developments Aims for EGP 9 Bn in Sales for NUCA with Saba Residence Project

TOREC Developments has unveiled an extensive expansion strategy for the Egyptian market in the upcoming period, serving as the development and marketing entity for the New Urban Communities Authority (NUCA), Invest-Gate reports.

Banking Alliance of 8 Banks Provides Joint Financing of EGP 10.3 Bn to Palm Hills Subsidiary for New October City Project

A banking consortium has successfully secured Palm for Urban Development, a subsidiary of Palm Hills, a substantial long-term syndicated loan totaling EGP 10.3 bn, Invest-Gate reports.

SHMFF CEO Highlights Digital Transformation in Social Housing at Global Infrastructure Summit

Mai Abdel Hamid, CEO of the Social Housing and Mortgage Finance Fund (SHMFF), has participated in a high-level roundtable titled “A Future Vision for Advancing Regional Public Digital Infrastructure Agendas in a Global Context,” Invest-Gate reports.

Doja Developments Partners with Sunwest Group to Manage Azal Galini Hotel on the North Coast

Doja Developments has entered into a strategic partnership agreement with Azal Hotels & Resorts, a part of the Sunwest Group, encompassing collaborative efforts between the two entities and the administration of Azal Galini Hotel situated on the North Coast, Invest-Gate reports.

Foreign Affairs Ministry Monitors Ongoing Preparations for Egypt’s Hosting of WUF12

The Egyptian Ministry of Foreign Affairs has convened a meeting to deliberate on arrangements for hosting the 12th session of the World Urban Forum (WUF12) in Cairo from November 4 to 8, 2024, Invest-Gate reports.

Egypt Launches “Aqoul” Competition for Engineering Students

In preparation for the 12th session of the World Urban Forum (WUF12) to be held in Egypt from November 4 to 8, the Ministries of Housing, Local Development, and Higher Education, in collaboration with the Egyptian Engineers Syndicate, have launched the Aqoul "Minds" competition, Invest-Gate reports.

Housing Minister Appoints 3 Assistants to Vice Presidents of NUCA

Minister of Housing, Utilities, and Urban Communities Sherif El Sherbini has issued decisions appointing three assistants to the vice presidents of the New Urban Communities Authority (NUCA) for the development and urban development sector, as well as the real estate and commercial affairs sector, Invest-Gate reports.

These appointments aim to accelerate the progress of development projects undertaken by the Authority in its new cities nationwide.

The Minister's directives specify that Ahmed Ali Mohamed Hassan, Assistant Vice President of NUCA for Real Estate and Commercial Affairs, will take on the responsibilities of Assistant Vice President for the Development and Urban Development Sector, focusing on Electricity Affairs.

Additionally, Hassan will oversee matters concerning the House of Representatives, the Senate, and lead the Political Communication Committees. Abdel Wahab Mohamed Abbas Ahmed Mosli, currently serving as Head of the Central Administration for Commercial Affairs at NUCA (on secondment), will assume the role of Assistant Vice President for the Real Estate and Commercial Affairs Sector.

Moreover, Ihab Hassan Sadek El Marakby, a Senior Specialist holding the rank of Director General at Shorouk City Authority, will step into the position of Assistant Vice President for the Real Estate and Commercial Affairs Sector.

El Sherbini has also appointed Ashraf Fathy Mahmoud Abdel Razek, a senior figure within NUCA, to oversee the operations of New Minya, New Mallawi, New Fayoum, and New Fashn cities. His base of operations will be at the New Minya City Authority.

INTRO Technology, Oman Data Park Ink $450 Mn Strategic MoU to Launch Kemet Data Center in Suez Canal Economic Zone for Cloud Service Exports

INTRO Technology has announced the signing of a strategic Memorandum of Understanding (MoU) with Oman Data Park, Invest-Gate reports.

El Gouna Introduces “Tuban”, Its Largest Premium Multi-Purpose District

El Gouna, the spectacular fully integrated and sustainable town developed by Orascom Development in the Red Sea, has unveiled the launch of its largest multi-purpose district to date, named "Tuban", Invest-Gate reports.

Egypt Gears Up to Host WUF12 in Full Cooperation with Ministries, Stakeholders

Manal Awad, Minister of Local Development, has confirmed that Egypt's preparations for hosting the 12th session of the World Urban Forum (WUF12) are progressing rapidly, Invest-Gate reports.

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