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

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

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

IGI Kicks off 1st Online Virtual Tour

Egypt-based developer IGI Real Estate is launching an online virtual tour for its projects, marking the first of its kind in Egypt

Misr Italia Properties Sends ‘Message of Hope’ to Everyone

Misr Italia Properties (MIP) has sent a “Message of Hope" to everyone amid the coronavirus pandemic crisis, Invest-Gate reports.

El Gazzar: EGP 100 bn Projects Obtain Approvals in Q1

Assem Al-Jazzar, Minister of Housing, Utilities, and New Urban Communities, affirmed that there are several achievements made by the Planning and Projects Sector in the New Urban Communities Authority (NUCA) in the first quarter of 2020, Invest-Gate reports.

Abbas Visits NAC’s Capital Park, Reviews Work Progress

Deputy Minister of Housing, Utilities, and Urban Communities for National projects Khaled Abbas followed up on the implementation of the central park complex project, Capital Park, in the New Administrative Capital (NAC) in east Cairo

Egypt, ITFC Ink USD 100 mn Deal to Secure Essential Commodities

The International Islamic Trade Finance Corporation (ITFC) Inked USD 100 mn financing agreement with the General Authority for Supply Commodities (GASC) to cover the Egyptian government’s essential strategic commodity needs amid the COVID-19 pandemic, state-run Ahram Online news website.

New Burj Al Arab Head Praises Work Progress at Several Factories

Essam Badawi, head of the New Burj Al Arab City Development Authority, praised the full-capacity production as well as all necessary measures taken to curb the virus, stressing the cooperation of all departments to overcome any obstacles that may face the work process

Egypt’s Suez Canal Achieves Higher Revenues

Egypt’s Suez Canal Authority Chairman Osama Rabie said the canal achieved a 2 % increase in its revenues to USD 1.907 bn during the first four months of 2020

Asphalt is Laid on Roads of 800-Acre Neighborhood: Official

Head of New October City Development Authority Adel El Naggar announced that asphalt is being laid on roads of the social housing project located in section D of the 800-acre neighborhood

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