News / Egypt

Social Housing Program Provides EGP 27 bn Funds Till October

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

GAFI Extends New Facilities in Mit Ghamr Investment Zone

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.

Establishment of 1st Egypt-Sudan Railway Line: Minister

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.

Sawiris Named Orascom Investment Holding’s New CEO

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 to Have 1st State-Run Mall

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

MNHD Leases Another Plot in Sarai to Total Egypt

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.

JLL Shares Positive Outlook for Egypt’s Real Estate

US-based commercial real estate services firm JLL has highlighted that Cairo’s real estate market saw a positive performance across all subsectors, including hotel, residential, retail, and administrative developments, in Q3 2019.

MNHD Posts Lower Profits in 9 M

Egypt's property developer Madinet Nasr Housing and Development (MNHD) reported a consolidated net profit of EGP 631 mn during the first nine months of 2019, a decline from EGP 869.1 mn during the same period last year.

Ras Ghareb Wind Energy Operates Ahead of Schedule: Orascom

Orascom Construction has revealed that construction and commissioning work at Egypt's Ras Ghareb Wind Energy project is complete 45 days ahead of schedule.

City Edge Secures EGP 20 bn Revenues in 20 M

CEO of City Edge Developments (CED) Amr El Kady has revealed that his company's revenues touched EGP 20 bn over the course of 20 months

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