News / Egypt

NAC’s Castle Landmark Sees EGP 100 mn Before Year-End

Egypt-based Castle Development has allocated about EGP 100 mn to complete 15% of construction works at phase I of Castle Landmark in the New Administrative Capital (NAC) before year-end

Majid Al Futtaim Plans for EGP 16 bn Investments in Egypt

UAE retail conglomerate Majid Al Futtaim CEO Alain Bejjani has revealed planned investments worth EGP 16 bn (USD 996.26 mn) in Egypt over the next two to three years, EGP 14 bn (USD 866.64 mn) of which will be allocated for a single mall in Cairo.

SHMFF Nods Mechanism to Involve Developers in Social Housing

The Social Housing and Mortgage Finance Fund’s (SHMFF) board approved a set of proposed principles, determinants, and mechanisms related to the involvement of private developers in the establishment of social housing projects in Egypt.

Orascom Investment Holding Turns to Losses in 9M

Orascom Investment Holding (OIH) turned to losses to incur EGP 92.4 mn in the first nine months of 2019, despite posting profits of EGP 1.07 bn during the same period, including minority rights.

Palm Hills Alexandria Phase II Kicks off

Palm Hills Alexandria’s Phase II has been launched during an exclusive event on December 3, following the success of the first phase, which was released in late 2018.

Aswan Wins UNESCO Learning City Award

Aswan has received the UNESCO Learning City Award for being one of the world’s top ten learning cities.

El-Sisi Opens July 3rd Tunnels to Link South Port Said, Sinai

President Abdel-Fattah El-Sisi has inaugurated July 3rd Tunnels in south Port Said، which mark one of the major national projects for connecting the Mediterranean governorate and Sinai, bidding to facilitate trade movement in the Suez Canal Zone.

New Alamein Coastal Towers 82% Done: Minister

Egypt's housing ministry has finalized 82% of the 15 coastal towers, or 4,500 residences, being undertaken in New Alamein, finishing 34 out of 41 floors at some of them.

Cooperative Housing to Represent 30% of Annual Supply: Official

Deputy Minister of Housing, Utilities, and Urban Communities for National Projects Khaled Abbas said the government is working on increasing the volume of cooperative housing to make up 30% of the annual residential supply, as part of an upcoming five-year plan.

Arabtec to Build EGP 1.60 bn Residences at Emaar Misr’s Marassi

Emaar Misr for Development, Cairo-based unit of UAE’s Emaar Properties, has awarded an AED 366 mn (EGP 1.61 bn) contract to Arabtec Construction to build the first of Marassi‘s six phases in the Greek Village on the North Coast

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