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Hassan Allam, Al Fanar Join Forces for Toskha Project

Al Fanar for Contracting, Construction, Trade, Import, and Export Company (Al Fanar) and Hassan Allam Construction (HAC) have partnered for some civil works in Toshka in the southern desert of Egypt.

MNHD, CIB Seal EGP 1.1 bn Syndicated Loan Agreement

Egypt's Madinet Nasr for Housing and Development (MNHD) has agreed on an EGP 1.1 bn syndicated loan, aiming to proceed with plans to pump EGP 12 bn over the next three years into east Cairo's Sarai and Taj City projects.

NUCA Issues 60 Decisions for Various Projects in August: Official

Assistant Minister for Community Affairs of the New Urban Communities Authority (NUCA) Waleed Abbas has unveiled that almost 60 ministerial decisions for development projects have been issued in August.

Almost Half of NAC’s Iconic Tower Complete: Minister

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has indicated that 42 floors of the 80-story Iconic Tower in the New Administrative Capital (NAC) were constructed so far, which is being carried out with investments worth USD 3 bn (EGP 47.6 bn).

Work on New Alamein Coastal Towers to Conclude in 2021: Minister

Egypt has constructed about 84% of the 15 coastal towers being undertaken in New Alamein, which are scheduled for finalization in 2021.

Al Ahly Sabbour to Roll Out New Spinneys Branch in ‘The City of Odyssia’

Al Ahly Sabbour Development has signed a Memorandum of Understanding (MoU) for a new hypermarket branch of Spinneys Egypt in "The City of Odyssia," the developer's flagship project in east Cairo's Mostakbal City.

MNHD Nods EGP 30 mn Offer for 98.4% Stake in NUI

State-run Madinet Nasr for Housing and Development (MNHD) has approved an EGP 30 mn offer to sell its 98.4%-owned subsidiary, called Nasr Utilities and Installations (NUI), to an unnamed strategic investor.

Hassan Allam to Construct New Railway Station in Giza

Hassan Allam Holding (HAH) was awarded the design and construction of Bashteel Railway Station in Giza, west Cairo, under the supervision of Transport Ministry and National Railways Authority of Egypt.

MIP to Deliver Kai Sokhna Phase I in November, Open Hilton Hotel in 2024

Misr Italia Properties (MIP) Managing Director and CEO Mohamed Khaled El Assal has uncovered plans to deliver phase I of Kai Sokhna in the upcoming November, which is being developed with combined investments of EGP 2.4 bn on the Red Sea coast.

Egypt’s Mortgage Funding Down 84.2% in April: FRA

The Financial Regulatory Authority (FRA) has unveiled that Egypt’s mortgage finance activity dropped by 84.2% last April versus the year-ago figures.

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