News / Egypt

Housing Ministry to Establish 1.1 mn Residential Units in 5 Yrs: Official

Khaled Abbas, deputy minister of housing, utilities, and urban communities for national projects, has stated that the ministry is planning to establish 1.1 mn residential units during the upcoming five years.

Hassan Allam Properties Releases The IRIS Apartments in SwanLake Residences New Cairo

Egypt's real estate developer Hassan Allam Properties (HAP) has launched its signature, most luxurious residential apartment buildings sub-project, The IRIS, in its integrated mixed-use development SwanLake Residences New Cairo.

DEGAROUTE Wins New Road Project in Egypt

DEGAROUTE, one of the world’s leading companies in specialty chemicals, was awarded a new project in Egypt to develop 500 kilometers of Cairo-Sharm El Sheikh highway in both directions

Net Foreign Reserves Rise to USD 44.11 bn by End-March

The Central Bank of Egypt (CBE) announced on April 3 that the country’s net foreign reserves rose to USD 44.11 bn by the end of March, compared to USD 44.06 bn in the month-ago period.

Marakez Acquires Land Plot in Mansoura for New Mall

Marakez for Real Estate Investment, a subsidiary of Saudi Arabia’s Fawaz Alhokair Group, has acquired a 47-acre land plot from the Internal Trade Development Authority (ITDA) in Mansoura city to develop a new internationally modeled commercial mall.

Egypt’s Debt to Drop to 74% of GDP by FY 2022/23: IMF

The International Monetary Fund (IMF) said on April 6 that Egypt's total public debt is expected to continue shrinking to nearly 74% of the gross domestic product (GDP) by 2022/23, on the back of the implementation of its economic reform program.

ODH Achieves EGP 3.47 bn Sales in 2018

Egypt's Orascom Development Holding (ODH) has achieved record-high net real estate sales of EGP 3.47 bn in FY 2018, excluding its newest residential project O West, compared to sales of EGP 2.19 bn a year earlier.

Moody’s Reveals Economic Forecasts for Egypt

US-based credit rating agency Moody's has announced its forecasts for the Egyptian economy, following the government's approval of the budget for the fiscal year 2020.

ARDIC Signs Deal to Sell 500 Units in Zizinia El Mostakbal

ARDIC for Real Estate Development and Investments has signed a cooperation protocol with the Federation of Cooperative Housing (FCH) to deliver 500 units of Zizinia El Mostakbal's total number of residential properties - or 25% of the project, situated in east Cairo.

ERA Eyes EGP 3.6 bn Sales for Developers in 2019

ERA Real Estate Egypt targets achieving sales worth EGP 3.6 bn for property developers in 2019, compared to EGP 3 bn in 2018.

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