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Gov’t Allocates 15,000 Acres for New City in Minya

Egypt's Supreme Council for Planning and Urban Development has approved allocating 15,000 acres for setting up a new city in the Upper Egypt governorate of Minya, dubbed "New Bani Mazar," aiming to develop an urban community that hosts distinct types of residences.

Egypt Draws Final USD 2 bn Tranche of IMF Loan

Egypt has received USD 2 bn from the International Monetary Fund (IMF), drawing the sixth and final tranche of the USD 12 bn, three-year loan program that kicked off back in November 2016

Egypt Invests EGP 1.3 bn in Neediest Villages in FY 2018/19

Deputy Minister of Planning and Administrative Reform Ahmed Kamaly said Egypt has carried out investments worth EGP 1.3 bn in 158 most needy villages during FY 2018/19, benefitting merely 2.5 mn citizens residing in five governorates

Cairo University New Branch to Open in 2020

The new international branch of Cairo University in 6th of October City, west Cairo, is slated for inauguration in the academic year 2020/21

ARDIC Sees Major Structural Reforms

Samir Aref has been named the new chairman of ARDIC for Real Estate Development and Investments' board of directors, whilst Mohamed Dawood was entitled as its vice-chairman, a step coming as part of the company’s structural reforms.

Tatweer Misr Delivers 169 Units in Fouka Bay’s Phase I

Egypt's real estate developer Tatweer Misr is fully handing over this summer phase I of Fouka Bay, its mixed-use project on the North Coast, delivering a total of 169 luxury-finished residential units.

El-Sisi Approves Amendments to New Investment Law

President Abdel-Fattah El-Sisi ratified on August 5 amendments to several provisions of ​Egypt's New Investment Law, promulgated by Law No. 72 of 2017.

New Mansoura’s JANNA, Sakan Misr See 15,936 Units Underway

New Mansoura sees about 11,232 residential units, within 468 buildings, 50% completed in JANNA luxury housing project, while 4,704 apartments are 80% finished in the city's Sakan Misr medium-income project

The Address Developments to Build EGP 2 bn Project in New Cairo

The Address Developments, an affiliate to The Address Investments Real Estate Consultancy, has acquired a 25-acre plot in Fifth Settlement, New Cairo, at an investment value of EGP 2 bn.

Emaar Misr Posts Lower Profits in H1

Emaar Misr, a wholly-owned subsidiary of UAE-based Emaar Properties, reported a 91% drop year-on-year (YoY) in its profits during the first half of 2019

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