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Capital Int’l Airport Witnesses Pilot Operation

Pilot operation of Capital International Airport, located in the New Administrative Capital (NAC), east Cairo, commenced on July 9, which was primarily built to help promote tourism and ease the load on Cairo International Airport (CAI).

ODE Sells 51% Stake in Oberoi Zahra

Orascom Development Egypt (ODE), the largest subsidiary of Orascom Development Holding in Egypt, has sold its 51% equity stake in Oberoi Zahra, a luxury Nile cruise, to a private Egyptian investor for USD 4 mn.

June Annual Headline Inflation Hits Lowest Level in 3 Yrs

The Central Agency for Public Mobilization and Statistics (CAPMAS) has indicated that Egypt's annual headline inflation has plummeted to 9.4% in June from 14.1% a month earlier for the first time in 2019 and the lowest since March 2016

New Tiba Wins ISO Certificate for Projects’ Quality

QAS International, one of the leading accreditation bodies, has awarded the New Tiba Development Authority with the International Management System Certification (ISO 45001), in recognition of its intense efforts and the implementation of high-quality projects within the new city.

Abdullah Al-Othaim Introduces 1st Snow City in Egypt

KSA-based Abdullah Al-Othaim Leisure and Tourism Company has introduced its very first snow city concept at City Stars Mall, east Cairo, with investments estimated at EGP 500 mn, allowing visitors to "live-in" a snow milieu all-year-round.

Marakez Uncovers 2nd Mall in Delta Region

Marakez for Real Estate Investment, a subsidiary of Saudi Arabia’s Fawaz Alhokair Group, has officially acquired a plot from the Internal Trade Development Authority (ITDA) to build Mansoura's first regional internationally-modeled shopping complex, Mall of Mansoura.

Reservation Starts at SECON’s Bleu Vert in NAC

The Saudi Egyptian Construction Company (SECON), an equally owned company by both Saudi and Egyptian governments, said clients can start reserving units at its new project in the New Administrative Capital (NAC), Bleu Vert, as of July 10.

Emaar Misr, El Nasr Housing Reach Dispute Resolution Deal

Emaar Misr has announced signing a preliminary deed of settlement with the state-owned company El Nasr Housing and Development, dropping their arbitration cases filed at the Cairo Regional Center for International Commercial Arbitration

Savills Upbeat on Cairo Real Estate Market

The Middle East’s real estate services provider Savills revealed that Cairo’s real estate market continues its rapid growth

Orascom Construction Adds USD 935 mn to Backlog in Q2

Egypt-based Orascom Construction has unveiled that new awards grew 40% YoY to around USD 935 mn (EGP 15.52 bn)  in the second quarter of 2019.

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