Fawaz AlHokair Group’s mall development unit Marakez has signed an EGP 670 mn syndicated loan agreement with multiple local banks to finance the execution of phase II of east Cairo's Mall of Katameya.
Emaar Misr for Development saw a 516.7% year-on-year (YoY) surge in net profit to log EGP 581.53 mn in H1 2020, compared to EGP 94.29 m in the year-ago period.
Amer Group's subsidiary Amer for Tourism Development has obtained approval from the New Minya City Authority to scale down the land area allocated for an integrated urban project in the new city.
Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has reviewed the proposed development plan for South Sinai's Saint Catherine city, in an attempt to revive the historical site.
President Abdel-Fattah El-Sisi has directed the Egyptian government to approve the development of several state-run non-profit universities, at a total cost of EGP 30 bn.
The Central Bank of Egypt (CBE) has reported a decline in the country's annual headline inflation to 4.6% in July - the lowest since November, compared to 5.6% last June and 7.8% in the same month a year earlier.
Emaar Misr and Elsewedy Education have agreed to build a 50-acre campus to host The Knowledge Hub Universities (TKH) in the former developer's New Zayed project, bringing UK-based Coventry University and branches of other prestigious foreign colleges to Egypt.
Egypt's Expo One, in collaboration with Grand Technology, will kick off the "VEstate Expo 2020," bringing four quarterly live real estate exhibitions to present the first-of-its-kind virtual gateway in Africa and the Middle East.
Madinet Nasr for Housing and Development's (MNHD) board of directors has given Odin Investments approval to commence due diligence on El Nasr Civil Works.
Egypt-based Amer Group reported an 8.6% hike in net profits in H1 2020, logging EGP 27.6 mn versus EGP 25.4 mn in the corresponding period last year.
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