News / Egypt

CBE Raises Tourism Financing Package to EGP 50 bn

The Central Bank of Egypt (CBE) has announced on December 15 an extensive financing plan to boost the tourism sector with EGP 50 bn instead of EGP 5 bn

Maged Salah Al Din Appointed as ARDIC CEO

ARDIC for Real Estate Development and Investments has appointed Maged Salah Al Din as the new CEO to succeed Ashraf Dowidar

EMPC to Take Over NBE Stake in Arabian Hotel

The Egyptian Media Production City’s (EMPC) board has ratified the acquisition of the National Bank of Egypt's (NBE) stake in Arabian Hotel Media Production City Co. at EGP 115 per share

MNHD Nods to EGP 150 mn Facility from United Bank

The Board of Directors (BoD) of Madinet Nasr for Housing and Development (MNHD) has approved an EGP 150 mn credit facility extended by the United Bank.

DoubleTree by Hilton to Open in Ain Sokhna

Egypt’s DM Development and the Hilton International Hotel Management Group announced plans to introduce a DoubleTree by Hilton hotel in Ain Sokhna, Suez governorate

Egypt Passes New Conditions for Foreign Citizenship

Prime Minister Mostafa Madbouly has signed off on granting the Egyptian citizenship to foreigners who either buy assets or invest at least USD 250,000 (EGP 4.03 mn) in the country.

UAE to Double Investments in Egypt Over 5 Yrs

The UAE International Investors Council (UAEIIC) plans to double the country's investments in Egypt to USD 14 bn (EGP 225.67 bn) over the next five years, in light of the country's promising investment climate.

Saudi Alameriah Eyes EGP 15 bn Investments in New Alamein

Chairman of Saudi Masa Alameriah Group Bandar Alameri said his company will invest EGP 15 bn in New Alamein

City Edge Developments Announces Management Changes

City Edge Developments (CED) has appointed Amgad Hassanein to the position of CEO to succeed Amr El Kady who has resigned his position

Etisalat to Provide Smart Control Systems at NAC

Etisalat Misr has been awarded a contract by the Administrative Capital for Urban Development (ACUD) for supplying, operating, and maintaining management control systems (MCSs) at the New Administrative Capital (NAC)

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