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Egypt’s 1st Monorail to be Implemented Over 24M: Minister

Minister of Transportation Kamel El Wazir inspected on May 4 the commencement of the civil works of Egypt’s first monorail project, linking between Greater Cairo and the New Administrative Capital (NAC), which is set to be implemented over 24 months.

Heliopolis Housing Sells 1,980-Acre Plot in Sheraton

Cairo-based Heliopolis Housing and Development (HHD) has announced selling a 1,980-acre land plot in Sheraton, Heliopolis, for EGP 99.3 mn at an auction on May 4.

Emaar Misr Consolidated Profits Fall 16.8% in Q1 2019

Egypt's Emaar Misr has reported a 16.8% YoY decline in its consolidated net profits during the first three months of 2019, dropping by EGP 84.6 mn compared to the year-ago period.

Net Foreign Reserves Hit USD 44.218 bn by End-April: CBE

The Central Bank of Egypt (CBE) announced on May 5 that the country’s net foreign reserves surged to USD 44.218 bn at end-April, compared to USD 44.030 bn in the prior-year period.

Egypt’s Property Prices Hike by 75% Since EGP Flotation

Real estate prices in the Egyptian market have hiked by an average of 75% since the EGP flotation in November 2016 until now, backed by rises in implementation costs and materials.

Mariout Hills Invests EGP 2.4 bn in Swiss Ranches Phase I

Ahmed Hassan, chairman of Mariout Hills Developments, a subsidiary of Mariout Hills Group, has revealed that investments worth EGP 2.4 bn were pumped into the first phase of the company's residential project in New Alamein, Swiss Ranches - the first integrated eco-housing venture in the region.

Al Marasem Uncovers New Partnership System at Fifth Square Project

Al Marasem International for Development, affiliated to Saudi Binladin Group, has launched a new partnership system at its Fifth Square project in New Cairo, enabling clients to invest in a top-quality product with a high rate of return on investment (ROI).

Heliopolis Housing Eyes Launching Smart Zone

The Heliopolis Company for Housing and Development (HHD) studies launching a smart zone in partnership with a UAE investor

AccorHotels Plans to Open Over 30 Hotels in Egypt Within 2 Yrs

AccorHotels CEO for Middle East and Africa Mark Willis announced plans for opening 60 new hotels in 14 countries in Africa in the next four years

Orascom Construction JV to Build Water Treatment Plant for USD 739 mn

Orascom Construction has announced that its 50:50 joint venture (JV) with Arab Contractors has signed an engineering, procurement, and construction (EPC) contract worth USD 739 mn to build a water treatment plant in Egypt

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