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EFG Hermes, Qasatli to Issue EGP 1.8 bn Securitized Bonds

EFG Hermes has partnered with newly set-up mortgage finance company Qasatli to issue five-year securitized bonds, worth EGP 1.8 bn.

1st Villa Launch at SODIC’s VYE Sells Out in 48 Hrs

Sixth of October for Development and Investment Company (SODIC) said the first batch of standalone villas in west Cairo's VYE project has been sold out, raising EGP 250 mn in sales within 48 hours only.

PHD Inks MoU to Build University in West Cairo’s Badya

Palm Hills Developments (PHD) and Taaleem Management Services, a subsidiary of CI Capital Holding for Financial Investments, have signed a Memorandum of Understanding (MoU) to build a higher education campus in Badya, PHD's flagship project in west Cairo.

PHD Secures EGP 365 mn Loan for Hacienda Bay

Palm Hills Developments (PHD) has inked an EGP 365 mn medium-term loan agreement with Arab African International Bank (AAIB) and Banque Misr to fund work at the former's North Coast project, or Hacienda Bay.

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.

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