Egypt’s Social Housing Program Costs EGP 243 bn: Minister

• Wednesday, 13th May 2020
• by Invest Gate

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar said a total of EGP 243 bn is required to implement Egypt's Social Housing Program, which involves the establishment of 1 mn units.

Egypt Halts Building Permits in 4 Governorates

• Wednesday, 13th May 2020
• by Invest Gate

Egypt has signed off on suspending the issuance of building permits for new housing units in Cairo, Giza, Qalyubia, and Alexandria for six months.

Invest-Gate Conducts 1st Virtual Roundtable to Examine Smart Real Estate Amid COVID-19

• Tuesday, 12th May 2020
• by Invest Gate

Register Now:
https://zoom.us/webinar/register/WN_r1t_VCAUQC6iMfb85sOhFg

As the spread of the novel COVID-19 abounds in Egypt, Invest-Gate is conducting on May 17 at 1 p.m. its first virtual roundtable to tap the knowledge and experience of local real estate market leaders, allowing them to access their collective intelligence and provide proprietary insights into the Egyptian property market's pre- and post-Coronavirus performance.

Egypt Rolls Out EGP 3 bn Initiative to Support Tourism: Minister

• Tuesday, 12th May 2020
• by Invest Gate

Egypt's Ministry of Finance has agreed to present EGP 3 bn in funding provided by the Central Bank of Egypt (CBE) to state banks for soft loans to tourist and hotel establishments at 5% annual interest, in a bid to contain the COVID-19 fallout.

IMF Approves USD 2.8 bn in Pandemic Aid to Egypt

• Tuesday, 12th May 2020
• by Invest Gate

The International Monetary Fund (IMF) has approved Egypt’s request for USD 2.772 bn in financial aid to address the urgent balance of payment needs stemming from the COVID-19 outbreak.

MNHD Secures EGP 2.1 bn Loan

• Monday, 11th May 2020
• by Invest Gate

Madinet Nasr for Housing and Development (MNHD) has secured an EGP 2.1 bn syndicated loan from three Egypt-based banks in funding for some of the developer's projects in New Cairo.

Now is Best Time to Expand Base of Contractors: Official

• Sunday, 10th May 2020
• by Invest Gate

Mohamed Abdel Raouf, a member of the Egyptian Federation for Construction and Building Contractors, said the current time is the best to expand the base of contracting companies collaborating with the state in the coming development projects, Invest-Gate reports.

El Attal Holding’s Unit Awarded EGP 400 mn Contracts in Q1

• Sunday, 10th May 2020
• by Invest Gate

El Attal Holding Chairman Ahmed El Attal revealed that his company's unit Attcon Constructions has been awarded contracts worth 400 EGP mn during the first quarter of 2020

Egypt Raises Investment Budget to EGP 230 bn for FY 2020/21: PM

• Thursday, 7th May 2020
• by Invest Gate

Egypt’s Prime Minister Mostafa Madbouly announced the proposed investment budget for FY 2020/2021 from EGP 150 to 230 bn, Invest-Gate reports.

Heliopolis Housing Expects EGP 562.129 mn Profits in FY 2020/21

• Thursday, 7th May 2020
• by Invest Gate

Heliopolis Company for Housing and Development modified its targeted net profit for FY 2020/2021 to be EGP 562.129 mn instead of EGP 1.214 bn