News / Egypt

Trial Operation of Egypt’s 1st Monorail Set in Mid-2021: Minister

Transport Minister Kamel El Wazir has announced that the trial operation of Egypt's first monorail, which connects El Salam City with the New Administrative Capital (NAC) and 10th of Ramadan City, will kick off around August 2021.

WB Sees Egypt Region’s Top Remittance Recipient in 2020

The World Bank (WB) foresees Egypt to become the top recipient of remittances at a value of USD 24.4 bn (EGP 382.2 bn) across the MENA region in 2020.

Cleopatra Awards Design Contract for North Coast’s Smeralda

Egypt's Cleopatra Real Estate, a subsidiary of Cleopatra Group, has awarded US-based architecture firm JZMK Partners the planning and design contract for "Smeralda Bay," its fifth and newest beach community in Sidi Heniesh, North Coast.

NAC’s Iconic Tower Now Stands 240 Meters High: Minister

Egypt’s Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has revealed that 49 stories of the 80-story Iconic Tower in the New Administrative Capital (NAC) have been built so far, thereby standing at 240 meters high.

SODIC Sells 776 Properties Across Cairo in 9M

Sixth of October Development and Investment Company (SODIC) sold out 776 properties during the first nine months of 2020, bringing gross contractual sales to EGP 4.1 bn and marking a YoY rise of 23% from EGP 3.34 bn in the prior-year period.

Renovation of Alexandria’s Tramline to Begin in Early 2021: NAT

The National Authority for Tunnels (NAT) will begin transforming Alexandria's El Raml tramway network – the oldest tram system in Africa and one of the oldest in the world – into a metro line worth EUR 360 mn (EGP 6.6 bn) in early 2021.

Great Transfiguration Project in Saint Catherine Underway

Khaled Abbas, Deputy Minister of Housing for National Projects, has stated that the National Committee is studying the implementation of the Great Transfiguration Project in Saint Catherine, Invest-Gate reports.

Housing Minister Tours NAC’s Latest Developments

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has toured the Capital Central Park and Central Business District (CBD) projects in the New Administrative Capital (NAC) to stay abreast of new developments on site.

Aqar Masr Seals EGP 100 mn Cityscape Deals From NAC Project

Aqar Masr for Real Estate Development has announced sealing EGP 100 mn worth of deals from its first residential project in the New Administrative Capital (NAC), “Anakaji,” during its participation in Cityscape Egypt from November 4-7.

NUCA VP Inspects Projects in New 6th of October City

Abdulmutallab Mamdouh, NUCA Vice President, inspects underway projects in New 6th of October City, accompanied by Adel Al-Nagar, Head of the City Authority, along with officials of the agency, Invest-Gate reports.

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