News / Egypt

NBE, IGI Agree on EGP 600 mn Facility for West Cairo’s Ashgar City

Egypt-based developer IGI Real Estate has agreed on a loan facility from the National Bank of Egypt (NBE) to finance the construction of its flagship project in 6th of October City, named "Ashgar City," with the first tranche valued at EGP 600 mn.

Carrefour Unveils New Stores to Expand Footprint in Egypt

Carrefour has opened its 53rd branch in Egypt, further anchoring its commitment to supporting the growth and development of the local community by offering various choices of quality products at affordable prices.

Emaar’s Address Makes Debut in North Coast with New Resort

Emaar Hospitality Group's Address Hotels & Resorts has made a debut on Egypt's North Coast with its first resort in Egypt, called “Address Marassi Golf Resort," after seven months of steady construction work.

Cabinet Nods USD 500 mn World Bank Housing Facility Extension

Egypt's Cabinet has ratified a USD 500 mn (EGP 8 bn) extension to a World Bank (WB) facility, as part of a program to improve access to low-income housing and bolster the state’s Social Housing and Mortgage Finance Fund (SHMFF).

MIP’s Allure Logs EGP 200 mn Sales Within 48 Hrs of Launch

Misr Italia Properties (MIP) has uncovered posting EGP 200 mn in sales of Allure Executive Offices - the latest addition to its integrated administrative complex, or Cairo Business Park - within its first 48 hours of launching.

NUCA Offers 2,351 Residential Plots in Over 14 New Cities

The New Urban Communities Authority (NUCA) began the offering of about 2,351 land plots in more than 14 new cities for online reservations on July 28.

Savills to Manage, Market West Cairo’s Ivory Business Park

International real estate consultancy firm Savills has been appointed to offer property management and agency services for west Cairo's Ivory Business Park (IBP), which is set to launch mid-2021.

ACUD Awards EGP 140 mn Tender for Solar Systems in NAC

The Administrative Capital for Urban Development (ACUD) has selected Benha Electronics and Suntech Egypt to build phase I of solar power systems on some public buildings in the New Administrative Capital (NAC), at an investment cost of EGP 140 mn.

Gov’t Agrees to Cede AAST Campus in New Alamein

Egypt's Ministry of Housing has agreed to cede control of the Arab Academy for Science and Technology (AAST) branch in New Alamein, including the land and building components.

Al Ahly Sabbour Delivers 362 Homes in Amwaj

Al Ahly Sabbour Development has successfully delivered 362 residences in its North Coast flagship project, or "Amwaj," bidding to handover 577 others before year-end, as part of the fourth phase.

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