News / Egypt

iCommunity Launches New Community Management App

Cairo-based iCommunity announced the launch of its new brand, Lyve, which will serve as the community management platform for real estate developers, homeowners associations, and compound residents

Cabinet Approves Amendments to Property Tax Law

Egypt's cabinet approved draft amendments to the Real Estate Tax Act, exempting idle land from property tax

CBE Leaves Interest Rates Unchanged in December

The Central Bank of Egypt (CBE) decided to maintain the overnight deposit rate at 12.25%, while the overnight lending rate remained unchanged at 13.25%

Annual Headline Inflation Doubles in December

Egypt’s annual headline inflation rate rose to 7.1% in December 2019, compared to 3.6% in November of the same year

PHD Inks EGP 505 mn Facility to Refinance Existing Debt

Palm Hills Developments (PHD) announced signing a loan agreement of EGP 505 mn with Ahli United Bank Egypt (AUB)

Gov’t Implements 3 Towers for Maspero Triangle Dwellers

Executive Director of the Development Fund for Slums Khaled Siddiq said that work is ongoing on three residential towers in Maspero Triangle to welcome its former dwellers

TMG Holding to Issue EGP 2 bn Sukuk in April

Talaat Moustafa Group (TMG) Holding CEO Hisham Talaat Moustafa said his company plans to launch EGP 2 bn sukuk program in April, aiming to secure medium-to-long-term financing for its recurring projects

The Waterway Releases EGP 4 bn Business Hub in New Cairo

Egypt's property developer The Waterway has rolled out its latest integrated business hub in New Cairo, called “5A,” with investments valued at EGP 4 bn, fusing administrative, commercial, and recreational services in one spot.

Sadat City Sees 5,800 Housing Units 75% Ready

New Urban Communities Authority Communities' (NUCA) Vice President Kamal Bahgat said 5,800 social housing units in Sadat City had reached an execution rate of 75%.

Gov’t to Revitalize 15 Informal Areas in Suez

Suez Governor Abdel Mageed Saqar and Executive Director of the Informal Settlements Development Fund (ISDF) Khaled Siddiq have inked cooperation agreement to revitalize 15 slums in Suez.

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