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Egypt’s National Carrier to Resume Flights in Early July

Egypt's EgyptAir Airlines will resume flights to 24 destinations during the first week of July and will add more in the following weeks, operating at 20-30% capacity.

CBE Leaves Rates on Hold for 3rd Time in a Row

The Central Bank of Egypt (CBE) has left interest rates stationary for the third consecutive meeting, citing lowered inflation rates, enhanced global financial conditions, and expectations of an economic recovery.

NAC’s Iconic Tower Reaches 188 Meters Long: Official

Deputy Minister of Housing, Utilities, and Urban Communities for National Projects Khaled Abbas has announced that the New Administrative Capital's (NAC) Iconic Tower - set to be the tallest in Africa - stands at 188 meters long now, out of the planned 400 meters.

NUCA Grants Facilities for Landowners in New Cities

The New Urban Communities Authority (NUCA) will grant facilities for various mixed-use investment lands in new cities, with areas of at least 2 acres, in an attempt to spur urban growth and mitigate Coronavirus strains on developers.

P&G to Invest USD 50 mn in Egypt Over 18M

Procter & Gamble (P&G) has announced plans to pump over USD 50 mn (EGP 809 mn) into the Egyptian market by the end of 2021 to expand production capacity.

EBRD Extends USD 200 mn Facility to Boost Egypt’s Private Sector

The European Bank for Reconstruction and Development (EBRD) has granted a USD 200 mn (EGP 3.24 bn) financing package to the National Bank of Egypt (NBE) for trade and on-lending to local Coronavirus-hit companies.

VOW Developments Rolls Out New Phase at NAC’s SOLAS

Egypt-based VOW Developments has rolled out a new phase at its New Administrative Capital (NAC) project, or "SOLAS," featuring 38 workspaces that extend over 3,000 square meters.

OUD Among Egypt’s 5 Top Diversified Landowners

Egypt's Orientals for Urban Development (OUD) was ranked the fourth among the five top real estate developers with a diversified land portfolio nationwide.

Breaking News: Restrictions to Ease for Dining, Recreational Activities

Egypt will reopen restaurants and cafés, along with cinemas and theatres, on June 27, on condition of operating at no more than 25% capacity, seemingly shortening nighttime curfew to begin from 12 midnight to 4 am.

Mabany Edris Sells 60% of New Assiut’s Asalya Phase I

Egypt-based property developer Mabany Edris has managed to market 60% of phase I of its newest flagship project in New Assuit, or “Asayla,” in three months only, despite market turmoil associated with the COVID-19 pandemic.

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