Construction at the New Administrative Capital (NAC) is moving forward in full swing, with work being stretched over two shifts and a 70% labor force present on-site.
Orascom Development Holding (ODH) will gradually reopen hotels in its Red Sea resort town of El Gouna for domestic tourism as of May 15, with plans to have all on-site hospitality facilities fully operational almost a week later.
As Egypt seeks relief for the tourism sector, a range of health and safety requirements has been released by the government to be embraced by hoteliers to safely welcome back guests and employees, while also guarding against Coronavirus spread.
The Central Bank of Egypt (CBE) has decided to keep overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 9.25%, 10.25%, and 9.75%, respectively.
Ora Developers has signed a deal with Orascom Construction to build the first phase of west Cairo's ZED Sheikh Zayed.
Egypt received USD 2.8 bn from the International Monetary Fund’s (IMF) Rapid Financing Instrument on May 12, the Middle East News Agency (MENA) reports.
East Cairo's City Centre Almaza has been certified LEED Gold by the US Green Building Council (USGBC), denoting proficiency in sustainable design, construction, and operation standards.
Lafarge Egypt, a subsidiary of LafargeHolcim Group, has announced repairing 460 ventilator devices in public hospitals nationwide and providing 2,000 food boxes to support daily workers in Qalyubia Governorate.
Phase II of Maspero Triangle Development Project is on the verge to commence, proceeding in line with the planned intensive implementation timelines
Al Ahly Sabbour Developments has cooperated with Tahya Misr Fund to purchase a set of respirators and 75,000 COVID-19 test kits, at a total value of EGP 4.5 mn, in efforts to aid the government in combating the novel pandemic.
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