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Tabarak Developments Delivers 100 Homes in New Cairo’s 90 Avenue

Tabarak Developments has announced the delivery of 100 residential units within phase I of New Cairo's 90 Avenue project, dubbed "Vibe Zone," intending to hand over a total of 150 properties in the upcoming weeks.

Ghabbour, Other Investors Acquire NCHD for USD 50 mn

Some Egyptian businessmen have recently acquired the New City Housing and Development Company (NCHD), a subsidiary of Orascom Development Egypt (ODE), through an English investment fund and one of GB Capital companies owned by Raouf Ghabbour, in a move valued at USD 50 mn (EGP 787.1 mn).

MetLife to Offer Insurance Solutions Through ADIB

MetLife has announced its partnership with Abu Dhabi Islamic Bank - Egypt (ADIB) to provide comprehensive life insurance solutions through ADIB’s diverse distribution channels and network of at least 69 branches across the country.

HAC Gets Work on CFC Mall’s New Extension

A consortium of Hassan Allam Construction (HAC) and Consolidated Contractors Company (CCC) was awarded a new tender to the 29,249-square-meter extension of New Cairo's Cairo Festival City (CFC) Mall, or "Festival Avenue."

Phase I of New Zayed’s Karmell Sells Out on Launch Day: SODIC

Sixth of October Development and Investment Company (SODIC) sold out the first batch of residential units at its newest 240-acre west Cairo project in New Zayed, dubbed "Karmell," on the first day of launch on December 16.

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.

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