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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

The Big 5 Construct Egypt Returns Early September

The Big 5 Construct Egypt, the Cairo-based edition of The Big 5, is back for a second round pfrom September 2 to 4, during which experts, decision-makers, and exhibitors from the global construction sector will gather to explore business opportunities in the country

Housing Committee Mulls Amendments to Old-Rent Contracts

Egyptian Parliament's Housing Committee approved on June 11 a proposed amendment that would see tenants, who signed long-term leases before 1996 and are using their properties for non-residential purposes, pay significantly higher rents.

Siemens to Supply 1st Digital Power Transformer in Egypt

Egyptian Electricity Transmission Company (EETC) and global technology giant Siemens have agreed to supply the North African country with its first digital power transformer - "Siemens' Sensformer," aiming to boost energy reliability and efficiency of substations for the delta area.

Palm Hills’ Sales Inch Up to EGP 2.2 bn in Q1

Egypt’s Palm Hills Developments (PHD) posted EGP 2.2 bn sales (residential and commercial) in Q1 2019, with 374 units sold in total, marking a 5% surge YoY that arisen notably from continued uptake of launched properties in Palm Hills Alexandria.

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.

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