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.
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.
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.
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.
Egypt's Orientals for Urban Development (OUD) was ranked the fourth among the five top real estate developers with a diversified land portfolio nationwide.
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.
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.
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.
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.
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.
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