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Housing Ministry, AfDB Inspects USD 150.6 mn Sanitation Projects

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has met with representatives of the African Development Bank (AfDB) to review work done at two sanitation projects underway in west Cairo, which the bank funds with a total value of USD 150.6 mn.

Hassan Allam Holding Buys Majority Stake in Bioworks

Egypt's Hassan Allam Holding (HAH) has acquired a majority stake in German Bioworks AG, a global player in water and wastewater technology, representing a major extension to the former’s offerings and a pivotal expansion into the waste and water industries in the GCC, US, China, Africa, Russia, and CIS countries.

Three New Cairo Metro Stations to Open Ahead of AFCON 2019

Egypt’s transport ministry has officially announced the opening of three subway stations for pilot operation on June 15, as part of the fourth phase of Cairo Metro's Line III expansion project, coming shortly before the country hosts the 2019 African Cup of Nations (AFCON)

Netsync Eyes Investing in Smart Cities Development in Egypt

USA-based Netsync Network Solutions intends to highly invest in smart city technologies in Egypt and transfer its exceptional expertise to the market, given that the country comprises areas that can swiftly evolve into smart cities in a pace much like the New Administrative Capital (NAC), New Alamein, among others.

Annual Headline Inflation Up to 14.1% by End-May: CAPMAS

The Central Agency for Public Mobilization and Statistics (CAPMAS) reported a 1.1% rise in Egypt’s annual headline inflation rate in May, hitting 14.1%, up from 13% a month earlier.

ERC Proposes 8-12% Middle-Income Mortgages Interest Rates

The Egyptian Real Estate Council (ERC) has proposed renewing interest rates applied on mortgage financing for would-be middle-income homebuyers to range from 8 to 12%

Mortgage Finance Loans Hit EGP 392.7 mn by End-April

Egypt’s Mortgage Finance Fund (MFF), targeting middle- and low-income citizens, provided loans worth EGP 392.7 mn in April versus EGP 127 mn in the year-ago period, amid a 208% surge in banks' key interest rates

Progate, Memar El Fouad Sign EGP 2.5 bn Deal for Zavani

Egypt-based Progate Development has partnered with Memar El Fouad, a subsidiary of Alfouad Holding Group, to develop the former company's residential project in the New Administrative Capital (NAC), Zavani, at costs valued at EGP 2.5 bn

Egypt Breaks World Record for Longest Iftar Table in NAC

Egypt just managed on June 1 to snag a new world record for the longest-ever Iftar table in the New Administrative Capital (NAC), shortly after it broke a record for Rod El Farag Axis Bridge - the widest cable-stayed bridge with a width of 67.36 meters.

Gov’t to Deliver 168 Units in New Cairo’s Dar Misr Phase I

Head of New Cairo Development Authority Adel El Naggar has announced plans to start handing over on June 9 the tenth batch of Dar Misr's first phase in El Koronfel Villas, New Cairo.

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