News / Egypt

Egypt’s Construction Sector to Become the Top in the Region by 2029, Fitch

Fitch Solutions’ BMI Research expected Egypt’s construction sector to grow by 9% on an annual basis within 2020 and 2024, in spite of the slowdown due to the current pandemic in the short term, Invest-Gate reports.

PepsiCo. Egypt Plans to Pump Up to USD 515 mn by 2021

Chairman and CEO of PepsiCo. Egypt Mohamed Shelbaya has asserted the company’s commitment to pump new investments in the Egyptian market up to USD 515 mn from 2018 till 2021, including USD 100 mn in 2020 only.

NUCA Official Follows Up on New Alamein Projects

New Urban Communities Authority (NUCA) Deputy Head of Development of New Cities Alaa Abdel-Aziz followed up on projects implemented in New Alamein.

Palm Hills Signs EGP 3.5 bn Deal for New Project in Ain Sokhna

Palm Hills Developments (PHD) and Al Shorouk for Touristic Developments have signed a co-development agreement for a mixed-use community in Ain Sokhna, Red Sea, under a revenue-sharing scheme, with investments valued at EGP 3.5 bn.

Invest-Gate Hosts “New Real Estate Product” Virtual Roundtable

Scheduled to take place on June 15, Invest-Gate is hosting another virtual roundtable titled "New Real Estate Product", so make sure to grab your virtual seat

AAIB Invests EGP 2 bn in Landmark Sabbour’s 1-NINETY

Arab African International Bank (AAIB) has recently pumped investments worth EGP 2 bn into Landmark Sabbour's latest New Cairo administrative/commercial project, or “1-NINETY,” to establish a new office building.

FEDCOC Respond to The Latest Construction Halt Decree

Mamdouh Badr El-Din, Federation of Egyptian Chambers of Commerce Real Estate Investment Chamber head, declared that the recent six-month- construction permits ban will negatively affect on the sector and customer alike; and causes a rise in the unemployment rate in the construction sector, Invest-Gate reports.

Transport Ministry Earmarks EGP 7.3 bn to Expand Cairo Ring Road

Egypt's transport ministry is currently undertaking the expansion of the Ring Road around Greater Cairo, with costs totaled at EGP 7.3 bn, aiming to help in trimming down traffic jams on the metropolitan area's most important freeway.

Old Cairo’s Bab Al-Azab Revamp to Get Underway

The Sovereign Fund of Egypt (SFE) has signed an agreement with the Supreme Council of Antiquities (SCA) to kick off plans to develop and operate Old Cairo's Bab Al-Azab landmark into a tourist area, in partnership with private investors.

Egypt Digitizes 40% of Local Property Registration Offices: Minister

Minister of Justice Omar Marwan has confirmed that roughly 40% of Egypt's real estate registration offices have been digitized, with more in the pipeline as part of the state's digital transformation efforts to achieve financial inclusion.

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