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

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

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

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

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

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

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.

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