Marakez for Real Estate Investment, a subsidiary of Saudi Arabia's Fawaz Alhokair Group, has signed a long-term loan agreement with Emirates NBD Egypt to provide EGP 395 mn worth of funds for Mall of Arabia's new expansion plans.
Egypt's cabinet has approved a supplementary fund of USD 500 mn (EGP 8.1 bn) from the World Bank (WB) for funding the country's social housing program, coming under a portfolio worth USD 8 bn (EGP 129.1 bn).
Orientals for Urban Development (OUD) has launched phase II of its New Cairo flagship project Azadir, which will comprise units with areas ranging from 55 to 130 square meters, offering competitive pricing.
Orascom Development Holding (ODH) started the development of its first project, the West Carclaze Garden Village (WCGV), in Eco-Bos Developments Limited in Cornwall, UK
Egypt's social housing program has successfully provided residences for 275,000 families, in collaboration with 29 banks and mortgage companies, at a total financing value of EGP 27 bn and a subsidized cost of EGP 4.3 bn, up to last October
The General Authority for Investment and Free Zones (GAFI) will extend new facilities to investors who earlier purchased the booklets of conditions for 107 specialized industrial units in Mit Ghamr Investment Zone, Dakahlia Governorate.
Minister of Transport Kamel El Wazir said Egypt is building a 6,000-kilometer rail line, connecting Upper Egypt with Sudan, as part of the efforts to facilitate trading between the two countries.
Orascom Investment Holding (OIH) Executive Chairman Naguib Sawiris will succeed Tamer El Mahdi as the company's new CEO, after the latter submitted his resignation, effective December 31, while also maintaining his current position.
Shorouk City Authority will for the first time entirely finance the implementation of a three-acre commercial center, located northeast Cairo, endeavoring to expand into and specialize in various investment fields
Madinet Nasr for Housing and Development’s (MNHD) board has given the go-ahead to lease a 3,000-square-meter plot in its New Cairo compound, Sarai, to Total Egypt for 25 years, adding up to the latter’s 7,000-square-meter gas service station.
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