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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.

Egypt Allots EGP 1.7 bn for Grand Continental Hotel Revamp

Downtown Cairo’s Grand Continental Hotel is being redeveloped into a 250-key five-star business hotel, with investments estimated at EGP 1.7 bn, after the state began tearing it down in early January.

EUR 41.5 mn German KfW Loan to Boost Egypt’s Vocational Education

Ministry of Education and Germany’s KfW Development Bank have agreed on EUR 41.5 mn (EGP 750.5 min) deal to boost and upgrade multiple vocational and applied technology education schools in Egypt.

Gov’t Guarantees EGP 3 bn to Cover Tourism Funding

The Central Bank of Egypt (CBE), in cooperation with the finance ministry, will provide EGP 3 bn worth of credit guarantees to the tourism sector, under the EGP 50 bn tourism support program.

France Underpins Egypt’s Energy Sector with EUR 151 mn

Minister of International Cooperation Rania Al-Mashat and the Agence Française de Développement (AFD) have agreed on a grant worth EUR 151 mn (EGP 2.75 bn) for enhancing the Egyptian energy sector's financial sustainability, governance, and operational efficiency.

The United Bank Grants EGP 130 mn Mortgages in H1: Official

Head of Real Estate Finance Sector at The United Bank of Egypt Ayman Mohamed has affirmed that 1,000 clients were granted EGP 130 mn worth of mortgage financing in H1 2020.

Banque Misr, FEI Partner to Spur Mortgage Financing

Banque Misr and the Real Estate Development Chamber at the Federation of Egyptian Industries (FEI) signed on June 17 a cooperation protocol to stimulate local real estate financing.

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