News / Egypt

Gov’t Mulls Over Saint Catherine’s Great Transfiguration Project

Egypt's housing ministry has held an expanded meeting to review the Great Transfiguration Project, which is aimed at the restoration of Saint Catherine's Monastery, South Sinai, in an attempt to revive the historical site.

Orascom’s Consortium Gets USD 800 mn Award for Cairo Metro Line IV

A consortium of Egypt-based Orascom Construction (OC) and Japanese conglomerate Mitsubishi Corporation was awarded a USD 800 mn (EGP 12.5 bn) contract to execute work on the first phase of the Cairo Metro Line IV.

Egypt’s Hotels Worst Hit in MENA Region Amid COVID-19: Colliers

Colliers International’s latest MENA Hotels Quarterly Review (Q3 2020) shows that Egyptian hotels have been the region’s worst-hit so far by COVID-19, with occupancy going down at least 50% during this year, despite the resumption of international flights and reopening of prime tourism spots.

Official Calls for Swift Work on 936 Low-Income Housing in West Cairo

Assistant Vice President of the New Urban Communities Authority (NUCA) Kamal Bhagat has inspected work on 936 low-income social housing units in west Cairo's 800-acre neighborhood, New 6th of October City, calling for a sharp jump in efforts for completion before the scheduled date in September 2021.

Chinese Alliance Signs Deals for Egypt’s 1st LRT Project

Egypt has signed two agreements with a Chinese alliance for the execution of the second and third phases of the country's first light rail transit (LRT) project, connecting El Salam City and the New Administrative Capital (NAC) through 10th of Ramadan City.

Hassan Allam Consortium Secures Work for Cairo Metro Line IV

Egypt's Hassan Allam Holding (HAH) has announced that its subsidiary, Hassan Allam Construction, was awarded a new contract for some work on the first phase of Cairo Metro Line IV.

ODE Seals USD 265 mn Loan Agreement

Orascom Development Egypt (ODE) has sealed a medium-term loan deal worth USD 265 mn (EGP 4.1 bn) to refinance outstanding debt and bankroll growth plans.

GAFI Ratifies USD 1.1 bn New Projects in 9M

The General Authority for Investment and Free Zones (GAFI) signed off on the execution of 31 new investment projects across Egypt during the first nine months of 2020, at a total cost of USD 1.1 bn (EGP 17.2 bn).

Emaar Misr Gets Nod on EGP 40 bn Investment Zone

The General Authority for Investment and Free Zones (GAFI) has ratified the establishment of a new investment zone for Emaar Misr for Development, with EGP 40 bn worth of investments.

Gov’t Lifts Construction Ban, Sets 6M Transitional Phase

Egypt's government has decided against renewing its six-month construction ban in Greater Cairo and Alexandria to end as of December, setting a six-month transitional period to outline the proposed city-scale building and planning controls and requirements for eliminating previous loopholes.

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