Minister of Planning and Economic Development Hala El Saeed said the government has ratified the allocation of EGP 8.5 bn for the establishment of 13 industrial zones nationwide to support small- and medium-sized enterprises (SMEs).
The New Urban Communities Authority (NUCA) will cut late fees owed on residential and commercial properties in new cities for the next two months, in the efforts to spur owners to pay off their arrears.
Egypt-based Smart Assets Real Estate Company is targeting the generation of EGP 600 mn in contractual sales for the various private projects across the country during the current year, compared to EGP 460 mn in 2019.
Egypt-based Royal for Real Estate Development plans to pump EGP 150 mn into its New Cairo projects in 2020, compared to an investment value of EGP 100 mn a year ago.
Egypt's Misr Italia Properties (MIP) has released a new administrative building in its New Cairo project, or Cairo Business Park, which is scheduled for delivery in the upcoming December.
Egypt's national developer City Edge Development (CED) and Al Tameer Mortgage Finance (Al Oula) have joined forces to provide a diverse range of mortgage financing activities to potential home buyers.
Egypt-based DM Development has managed to log 60% (or EGP 150 mn) of its targeted sales for “The Groove” project in Ain Sokhna in Q1 2020, aiming to seal deals worth EGP 1 bn by year-end.
Minister of Housing, Utilities, and Urban Communities Assem El Gazzar began a 14-day self-isolation on June 11 for having been in contact with a Coronavirus carrier.
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.
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.
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