News / Egypt

Implementation of Iconic Tower Metal Structure Started: Minister

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has witnessed the beginning of implementing the Iconic Tower’s metal structure in the New Administrative Capital (NAC), east Cairo

NUCA, Al Manara Ink Deal for New Compound in West Cairo

New Urban Communities Authority (NUCA) has inked a partnership contract worth EGP 1.3 bn with Al Manara for Urban Development to establish “Green Land” compound in the 6th of October city, west Cairo

NUCA Concludes EGP 4 bn Securitization Transaction

Egypt’s New Urban Communities Authority (NUCA) has concluded a securitization bond issue worth EGP 4 bn to finance a number of its underway megaprojects cross-country

SODIC Posts 18% Fall in 9M Profits

Six of October Development and Investment (SODIC) reported an 18% decline in its profits to reach EGP 504 mn in the first nine months of 2019, compared to EGP 612.9 mn in the prior-year period

Inertia Hosts Egyptian Museum’s 117th Anniversary

Egypt's real estate developer Inertia hosted on November 15 the celebration of the Egyptian Museum’s 117th anniversary, in collaboration with the Ministry of Antiquities.

Hassan Allam Gets USD 20 mn EBRD Loan for New Investments

Hassan Allam Holding (HAH) has signed an agreement with the European Bank for Reconstruction and Development (EBRD) for a USD 20 mn loan to support the construction and utility sectors in Egypt.

Prime Group Launches 1st Int’l Outlet Mall in Egypt

Egypt's Prime Group has announced signing a contract with London-based Freeport Retail to develop the country's first-ever outlet mall for brands in Cairo, during its participation at France's MAPIC exhibition in Cannes.

Marakez Wins Gold Award for Mall of Arabia

Marakez for Real Estate Investment has won the gold award for Mall of Arabia’s phase II, or "The Expansion," during the Middle East Council of Shopping Centers and Retail (MECS+R) 2019 Awards ceremony, in recognition of its design and development

Orouba Misr Kicks Off Orouba Skyline Phase II

Egypt's real estate developer Orouba Misr Development celebrated the launch of the second phase of Orouba Skyline in Smouha, Alexandria

Middle East, Africa Report Declines in Hotel Pipeline: STR

The US-based hospitality sector analytics provider STR announced a 5.7% year-on-year (YoY) dip in the volume of rooms in the underway projects' final phase in the Middle East region last October, with Egypt coming last on the high performers list for having 4,976 keys underway, marking 2.9% of existing supply.

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