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Over 260 Development Projects Underway in Giza: Official

Giza Governor Ahmed Rashid said on June 11, during a meeting held with Prime Minister Mostafa Madbouly, that 260 projects are underway in the province, with costs estimated at EGP 12.5 bn, in addition to other developments being established with EGP 217 mn worth of investments.

ODE Signs EGP 3.8 bn Debt Rescheduling Package with Egyptian Banks

Orascom Development Egypt (ODE), the largest subsidiary of Orascom Development Holding in Egypt, has signed CHF 228.1 mn (nearly EGP 3.82 bn) debt rescheduling package, a step coming to boost the company's balance sheet and generate more flexibility in growing its projects.

NUCA to Soon Offer More Housing Units, Lands in New Cities

The New Urban Communities Authority (NUCA) will soon offer additional lands and residential units in various new cities as well as Sakan Misr for middle-class housing, in order to meet demands of the distinct segments seeking to invest or reside in these areas.

Gov’t to Pass Heliopolis Housing Management to Private Investor

Egypt's Ministry of Public Enterprise Sector and Holding Company for Construction and Development have given principal approval to pass management of Heliopolis Company for Housing and Development (HHD) to a strategic real estate investor.

Egypt Extends 248 Opportunities to Step Up Local Industrialization

Egypt is currently adopting a program that aims to step up local industrialization, under Egypt Vision 2030 and Egypt 2020 Industrial Development Strategy, which provided 248 investment opportunities in only six months, with a market value of USD 20 bn.

CBE Posts USD 112 mn Hike in Net Foreign Reserves by End-May

The Central Bank of Egypt (CBE) has indicated that the country managed to add USD 112 mn to its reserves base in May to close the month at USD 44.274 bn, compared to USD 44.218 bn at end-April

ERC Uncovers 5th Tourism Project in Sahl Hasheesh

Egyptian Resorts Company (ERC) has launched its latest EGP 52 mn tourism project, Bay Condos, through its subsidiary, Sahl Hasheesh for Touristic Investment, shortly after it unveiled Bay Village compound last September for both locals and foreigners seeking to invest in the country’s second-home market.

Cabinet Amends Regulations of Real Estate Funds

Egypt's cabinet issued a decree on June 11 to amend the executive regulations of "Capital Markets Act," governing real estate funds, in an attempt to facilitate and reduce burdens halting real estate investment.

Consortium Bidding for Egypt’s 1st Dry Port Starts in July

Egypt’s transport ministry, along with the public-private partnership (PPP) central unit - affiliated to the finance ministry, will start accepting technical and financial tenders for building the first dry port in 6th of October Industrial Zone, west Cairo, as of July 11.

Drawings of Saqqara Development Project to be Ready Before End-June

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has mandated the swift preparation of drawings for the restoration of ancient Saqqara archaeological area before the end of June, coming up to provide an array of services to potential visitors and contribute to the growth of inbound tourism as a result

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