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Hassan Allam Gets USD 20 mn EBRD Loan for New Investments

Hassan Allam Holding (HAH) has signed an agreement with the European Bank for Reconstruction and Development (EBRD) for a USD 20 mn loan to support the construction and utility sectors in Egypt.

Prime Group Launches 1st Int’l Outlet Mall in Egypt

Egypt's Prime Group has announced signing a contract with London-based Freeport Retail to develop the country's first-ever outlet mall for brands in Cairo, during its participation at France's MAPIC exhibition in Cannes.

Marakez Wins Gold Award for Mall of Arabia

Marakez for Real Estate Investment has won the gold award for Mall of Arabia’s phase II, or "The Expansion," during the Middle East Council of Shopping Centers and Retail (MECS+R) 2019 Awards ceremony, in recognition of its design and development

Orouba Misr Kicks Off Orouba Skyline Phase II

Egypt's real estate developer Orouba Misr Development celebrated the launch of the second phase of Orouba Skyline in Smouha, Alexandria

Middle East, Africa Report Declines in Hotel Pipeline: STR

The US-based hospitality sector analytics provider STR announced a 5.7% year-on-year (YoY) dip in the volume of rooms in the underway projects' final phase in the Middle East region last October, with Egypt coming last on the high performers list for having 4,976 keys underway, marking 2.9% of existing supply.

Gov’t Lists Over 2,000 Industrial Opportinuties on Online Map

Nearly 2,050 industrial opportunities are now available on the state's online unified industrial investment map, which was introduced back in September in a bid to promote the sector as one of the key pillars of the national economy.

CBE Makes 3rd Interest Rate Cut Amid Low Inflation Rates

The Central Bank of Egypt (CBE) has made the third consecutive cut to key rates by 1%, a step coming shortly after the annual headline inflation rate hit its lowest level in 14 years and logged 3.1% in October, compared to 4.8% and 17.7% in September and the year-ago period, respectively.

MNHD Launches New Phases of Taj City, Sarai

Managing Director and CEO of Madinet Nasr Housing and Development (MNHD) Ahmed Al Hitamy has uncovered the launch of three new phases of New Cairo's Taj City and Sarai.

Egypt, UAE Release USD 200 bn Joint Strategic Investment Platform

Egypt and the UAE have agreed to establish a USD 20 bn (EGP 322.6 bn) joint strategic investment platform, funded equally by the state-run Abu Dhabi Development Holding Company (ADDHC) and the Egyptian newly-introduced sovereign wealth fund, Tharaa.

Egypt, Kuwait Join Forces for Smart City Applications

The Egyptian National Organization for Military Production (NOMP) has inked a memorandum of understanding (MoU) with Kuwait’s MEASC Safe Smart Cities to cooperate in the fields of technology, safety, and security of smart cities.

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