News / Egypt

Egypt Earmarks EGP 93.5 bn for Healthcare in FY 2020/21

Minister of Planning and Economic Development Hala El Saeed has uncovered the allocation of EGP 93.5 bn to the Egyptian healthcare sector in the FY 2020/21 budget, reflecting a 28% hike from allotments of the year-ago period.

AfDB Extends EUR 225 mn for Egypt’s Power Industry, Economic Growth

The African Development Bank Group (AfDB) will grant EUR 225 mn (EGP 4.1 bn) in financing to Egypt’s Electricity and Green Growth Support Program (EGGSP), in a bid to provide necessary funds to combat the pandemic and "support a sound electricity infrastructure base."

EIB Endows EUR 122.7 mn for Egypt’s Sanitation, Transport Sectors

Egypt has approved three funding agreements with the European Investment Bank (EIB) to finance local sanitation and transportation sectors at a combined value of EUR 122.7 mn (EGP 2.23 bn).

Elsewedy, El Mostakbal Agree on EGP 423.3 mn Infrastructure Work

El Mostakbal for Urban Development has signed an EGP 423.3 mn deal with Elsewedy Electric's unit to carry out electricity and telecommunications infrastructure of the latter east Cairo project’s phase III.

Hassan Allam Wins 8,000-Acre Infrastructure Works in West Cairo

Ministry of Housing, Utilities, and Urban Communities has awarded Hassan Allam Construction (HAC), a subsidiary of Hassan Allam Holding (HAH), an 8,000-acre infrastructure project in Sheikh Zayed, aiming to provide utilities to serve 1 mn citizens.

Gov’t Offers 768 Social Housing Units for COVID-19 Care

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has mandated the provision of 768 social housing units in Minya and Fayoum as temporary isolation housing or wards for Coronavirus patients.

Elsewedy Electric Among Forbes’ 100 Top Mideast Companies in 2020

Egypt-based Elsewedy Electric has been recognized among the top 100 companies in the Middle East by Forbes, due to its sector-based contribution to significantly boost local economic growth.

SODIC Sees 25% Rise in Home Sales Albeit Fewer Releases

Sixth of October Development and Investment Company (SODIC) logged a 25% uptick in residential contractual sales in Q1 2020, registering EGP 842 mn versus EGP 672 mn in the year-ago period, driven mainly by its west Cairo projects.

Cost-Effectiveness & Affordability Meet at Housing Clusters: Shalaby

Tatweer Misr President & CEO Ahmed Shalaby has confirmed that the development of interconnected rooftop amenities within clusters of buildings, providing essential facilities and services, is a strong tactic to ensure cost-effectiveness and affordability.

Invest-Gate Wraps Up Recommendations for ‘New Real Estate Product’ VRT

Invest-Gate concluded its second virtual roundtable on June 15, called the “New Real Estate Product," and crowned it with success after marking a new era of bulletproof development, fully responding to consumer needs and, most importantly, laying out the ultimate “new normal” playbook on leading brick-and-mortar businesses through the crisis and beyond.

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