News / Egypt

K&A Named Advisor for Egypt’s USD 4.5 bn Monorail Project

Multidisciplinary design consultancy Khatib & Alami (K&A) has been named the lead government transaction advisor on the construction, financing, and operations of the planned USD 4.5 bn monorail project, linking east and west Cairo.

Foreign Reserves Hit All-Time High of USD 45 bn in August: CBE

The Central Bank of Egypt (CBE) has revealed that nearly USD 53 mn were added up to the country's net foreign reserves in August, logging USD 44.969 bn from USD 44.917 bn in the previous month.

PM Opens New Investor Service Center in Minya

Prime Minister Mostafa Madbouly inaugurated on September 7 the Investor Service Center (ISC) in Minya, endeavoring to eliminate the bottlenecks investors face when starting up new businesses.

Pyramids Developments Unveils 5th Commercial Project in NAC

Pyramids Developments has unveiled Paris East Mall, its fifth commercial project in the New Administrative Capital (NAC), with sales exceeding EGP 1.5 bn in less than 48 hours.

West Cairo Awaits 147,680 Social Housing Units

West Cairo's New October City and October Gardens will shortly have a total of 147,680 social housing units completed, as part of the state's social housing project, which aims to provide adequate, affordable homes.

Minya’s Samalout Axis to Open by Year-End

Minya's 24-kilometer-long Samalout Axis, which entails establishing 30 bridges and 17 tunnels, and is part of seven axes being carried out over the Nile River at a total cost of EGP 9.5 bn, is set to be finalized by year-end.

Moody’s Affirms Egypt Credit Rating at B2 Stable

Moody's Investors Service has kept Egypt's credit profile at "B2 stable," reflecting concerns over the government’s weak, but gradually improving, finances and fiscal metrics, which shall boost annual growth to 6% by 2021.

Egypt to Announce Largest Land Offerings in New Cities

Egypt's housing ministry is preparing to release the largest land offerings in new cities within a few days, including residential, service, and commercial plots, while presenting various distinguished apartments and villas nationwide.

Gov’t Delivers 25,440 Units in October Gardens

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar announced on September 1 that 25,440 social housing units have been completed and handed over in October Gardens, west Cairo

Alexandria’s Mahmoudia Axis to See 2 Mixed-Use Projects

The New Urban Communities Authority (NUCA) has inked a cooperation protocol with subsidiaries of Holding Company for Cotton, Spinning, and Weaving on the development of integrated urban projects within two plots owned by the latter on Mahmoudia Axis, Alexandria

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