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Egypt, Japanese Bank Partner to Boost Bilateral Investments

Egypt's General Authority for Investment and Free Zones (GAFI) signed on August 28 a memorandum of understanding (MoU) with MUFG Bank, Japan's largest bank, aiming to set an action plan to boost bilateral investments.

Baron Palace to Reopen Before Year-End

Egypt has finalized 85% of restoration work at Baron Empain Palace in east Cairo's Heliopolis, in preparation for its reopening before year-end, at a total cost of EGP 100 mn.

Unveiling of Al Yosr Land Plan by SODIC Approved

Sixth of October Development and Investment Company (SODIC) announced on August 28 that its fully-owned subsidiary, Al Yosr for Projects and Agricultural Development, has received approval for the masterplan of its latest project in New Zayed, west Cairo.

Emaar Misr Awards Arabtec 2 Projects in Uptown Cairo

Emaar Misr, Cairo-based unit of UAE's Emaar Properties, signed an EGP 1.845 bn contract with Dubai-based Arabtec Construction, a subsidiary of Arabtec Holding, to establish two urban projects in Uptown Cairo, an integrated gated compound perched atop Mokattam Hills.

Egypt to Have 4 New Lulu Hypermarkets Soon

Egypt has inked a USD 500 mn deal with UAE’s LuLu Group International to establish four new hypermarkets nationwide over 12 months, coming as part of the state's plans to expand the Egyptian retail sector and provide low-priced food commodities.

Egyptian Construction Market Leads Africa in 2018: Deloitte

The latest edition of Deloitte's Africa Construction Trends report has indicated that Egypt leads Africa in the number and value of construction projects within a single country in 2018, scoring 9.5% of the total developments continent-wide during the year.

Hassan Allam Properties Sells Out Premier Phase of The Giselle in Less Than 24 Hrs

Hassan Allam Properties (HAP) launched on August 27 the premier phase of The Giselle, the newest exclusively gated neighborhood within its mixed-use development SwanLake Residences New Cairo, selling out all units in less than 24 hours.

ZED May See EGP 5 bn Investments in 2019/20: Ora Developers CEO

CEO of Ora Developers Haitham Mohamed has uncovered that the company intends to pump between EGP 4-5 bn into its first mixed-use development in west Cairo, ZED, throughout 2019 and 2020.

Egyptian Expats’ Remittances Jump 43% in May: CBE

The Central Bank of Egypt (CBE) said remittances of Egyptian expatriates, one of the country’s main sources of foreign currency, leaped to almost USD 3 (EGP 49.7) bn in May, up 43% from USD 2.1 (EGP 34.8) bn a month earlier.

East Port Said Gets Approval for Multi-Purpose Terminal

Egypt's cabinet ratified on August 22 a concession agreement to design, construct, manage, operate, and maintain a multi-purpose terminal at East Port Said Port, located east of the Suez Canal’s northern entrance.

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