Orascom Development Egypt (ODE) has sealed a medium-term loan deal worth USD 265 mn (EGP 4.1 bn) to refinance outstanding debt and bankroll growth plans.
The General Authority for Investment and Free Zones (GAFI) signed off on the execution of 31 new investment projects across Egypt during the first nine months of 2020, at a total cost of USD 1.1 bn (EGP 17.2 bn).
The General Authority for Investment and Free Zones (GAFI) has ratified the establishment of a new investment zone for Emaar Misr for Development, with EGP 40 bn worth of investments.
Egypt's government has decided against renewing its six-month construction ban in Greater Cairo and Alexandria to end as of December, setting a six-month transitional period to outline the proposed city-scale building and planning controls and requirements for eliminating previous loopholes.
ARDIC for Real Estate Development and Investments has announced plans to deliver phase I of east Cairo's Zizinia El Mostakbal project, including 500 residential units, in June 2022, with intentions to finish the entire compound before 2024.
MG Developments has revealed contracting with several leading companies to complete internal and external finishes of its fully-fledged administrative/commercial complex in New Cairo, called Headquarters Business (HQ).
EGX-listed Remco for Tourism Villages Construction has joined forces with its subsidiaries and sister companies to secure EGP 3.3 bn worth of long-term co-financing.
Pyramids Developments has uncovered that its mixed-use project in the New Administrative Capital (NAC), or "Grand Square Mall," will be ready to be put up for operational lease by January 2021.
DM Development posted EGP 700 mn in sales of 400 residential units of The Groove Sokhna Resort’s Brellia Village, along with EGP 300 mn from 102 other homes at phase 1 of the Red Sea project's Sereia, during the third quarter of 2020.
Assem Al-Gazzar, Minister of Housing, Utilities and Urban Communities and Major General Khaled Abdel Aal, Governor of Cairo, have held an expanded meeting to follow up on the ongoing development projects across the capital, Invest-Gate reports.
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