News / Egypt

New Investor Service Center Opens in Port Said

Prime Minister Mostafa Madbouly opened on September 19 the Investor Service Center (ISC) in Port Said, endeavoring to eliminate the bottlenecks investors face when starting up new businesses.

Egypt Allots EGP 9.3 bn to Social Housing in FY 2019/20

The government allocated a total of EGP 9.3 bn for the social housing program in FY 2019/20, complementing its plan to ensure decent lives for all citizens through building integrated urban communities.

Orascom Investment Sees Higher Losses in H1

Egypt-based Orascom Investment Holding (OIH) incurred higher net losses of EGP 153.3 mn in the first half of 2019, compared to EGP 141.2 mn recorded during the prior-year period.

Mountain View Brings Happy Office Spaces to Egypt

Egypt's real estate developer Mountain View held the first edition of Future Offices International Summit at The Nile-Ritz Carlton, Cairo on September 22, under the patronage of Ministry of Housing, Utilities, and Urban Communities.

ERC Takes Legal Action to Scrap USD 40 mn Contracts

Egyptian Resorts Company (ERC) has announced legal action to scrap contracts worth USD 40 mn (EGP 653.6 mn) for four land plots, sold back in June 2015, due to its clients’ failure to make due payments.

Madaar Development Hosts Azha Endurance Festival

Egypt's Madaar Development, in collaboration with TriFactory, hosted on September 21 Azha Endurance Festival at its luxurious Ain Sokhna resort, Azha, welcoming nearly 500 amateurs and sports enthusiasts.

ALDAU Development Launches Cairo West Residence Phase I

Egypt’s hospitality and property developer ALDAU Development, a member of Sami Saad Holding, has launched the first phase of “Cairo West Residence,” its newest 11-acre residential project in west Cairo

Thomas Cook’s Bankruptcy Has Minimal Impact on Orascom

Orascom Development Egypt (ODE) said Thomas Cook's bankruptcy has an "immaterial" effect on the former company's operations, yet the short-term impact is "minimal."

New Fayoum Sees 1,656 Housing Units Done

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar said 1,656 social housing units have been completed in New Fayoum, with 50 apartments already delivered to the beneficiaries.

Qalyubia Awaits EGP 513 mn Water Projects

Qalyubia Governorate is witnessing the implementation of three potable water projects, with a total added capacity of 217,000 cubic meters per day, at a cost of EGP 513 mn

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