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PM Reviews Development of Egypt’s Provincial Capitals, Major Cities

Prime Minister Mostafa Madbouly has held a meeting to review the development project of Egypt’s provincial capitals and major cities, in line with the presidential directives for the optimal utilization of state assets and provision of new services and projects.

GCC Investors Seek to Develop Cairo, Sphinx Airports: Minister

Minister of Civil Aviation Mohamed Manar said some Saudi and Kuwaiti investors are keen to compete for cargo village and logistic projects at Cairo International Airport (CAI) and Sphinx International Airport (SIA).

El-Sisi Mandates Addition of 3,300 Housing Units Nationwide

President Abdel-Fattah El-Sisi has mandated the implementation of additional 3,300 housing units nationwide, as part of the “Residence for All Egyptians” national project, and as an extension to the state's "Ahalena" social housing project in the vicinity of Ibrahim El Orabi Axis.

NUCA Agrees to Develop Textile Industry’s State-Owned Unused Lands

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has witnessed the signing of a cooperation protocol between the New Urban Communities Authority (NUCA) and the Holding Company for Cotton, Spinning, and Weaving to develop some of the unused lands owned by the latter company or its subsidiaries across Egypt.

ODE Sells 35.25% Stake in Subsidiary for Almost EGP 129 mn

Orascom Development Egypt (ODE) has signed off on selling a 35.25% stake in its subsidiary New City Housing and Development Company (NCHD), at a total cost of EGP 128.6 mn, in line with its strategic plans to reinforce core business areas.

Moody’s Keeps Egypt Credit Rating at B2 Thanks to Economic Strength

Moody’s Investors Service has kept Egypt’s credit profile at “B2 stable,” with a stable outlook underpinned by the country's economic strength.

Gov’t Reclaims 15-Acre State Land Near Madinaty

Head of New Cairo Development Authority Amin Ghoneim has embarked on a massive campaign to forcibly remove encroachments on state-owned lands, mainly recovering a 15-acre plot opposite to Madinaty, northeast Cairo.

Sohag Sees Pilot Operation of EGP 500 mn Treatment Plant

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has announced the pilot operation of the first phase of an EGP 500 mn sewerage treatment plant to serve a total of 450,000 people in Saqlata, east of Sohag, some villages in Akhmim and other neighboring areas.

Al Arabia Constructs 50% of All its Property Projects Nationwide

Al Arabia Company for Real Estate Development has announced the completion of 50% of work on all of its real estate projects in New Cairo, coinciding with the celebration of its 17th anniversary as the Egypt-based developer offers potential clients with payment schemes of up to 72 years.

Over 9,000 Homes for NAC Employees Almost 92% Done

Merely 9,024 apartments (376 residential buildings) are almost 91.5% complete in Badr City, which are designated for the first batch of government employees to move to the New Administrative Capital (NAC) upon operation of the new city's ministerial district.

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