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Real Estate Sales Are Expected to Decline in Q1: Beta Egypt

Chairman of Beta Egypt for Urban Development Company Alaa Fekri expected the first quarter of 2019 to see lower sales than the same period last year

Housing Minister Reviews Latest Updates at 1st Meeting

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar held his first meeting on February 13 with top leaders of the New Urban Communities Authority (NUCA) to follow up on  the current fiscal year plan, as well as the development progress at the country’s new cities.

Amer Group to Open Porto Said’s Hotel in Q1 2019

Egypt's property developer Amer Group Holding announced on February 14 that it plans to open a 5-star hotel, as part of its mixed-use development project, Porto Said, during the first quarter of 2019

MasterCard Eyes Making NAC 1st Egyptian Cashless City

MasterCard is looking to collaborate with the Ministry of Communications and Information Technology to develop advanced digital payments infrastructure across various governorates in Egypt, aiming to make the New Administrative Capital (NAC) the first cashless city in the country.

SODIC Intends Sealing EGP 7.2 bn Contracts in 2019

Egypt-based Sixth of October for Development and Investment (SODIC) intends to seal EGP 7.202 bn contracts in 2019, while also planning to invest around EGP 5.173 bn across its developments and its subsidiaries' projects this year.

Moody’s Maintains Positive Outlook on Egypt’s Banks

International credit rating agency Moody’s Investors Service has maintained its positive outlook for Egypt’s banking sector, on the back of the country's improving operating conditions.

Green Town Achieves EGP 186 mn Sales for Developers in 2018

Egypt's Green Town Real Estate and Development has achieved sales worth EGP 186 mn in 2018 for a number of Egypt-based real estate projects being implemented by distinct developers.

Completion of 2 Major Road Projects by Next April

Chairman of Sinai Reconstruction Authority Mohsen Saeed has unveiled that the June 30 Axis is 94% completed and is expected to be finalized by next April, while the implementation rate at western Assiut Plateau road project reached 75%, with expectations to be completed during the same month.

Gov’t to Provide Export Incentives for Construction Sector: Official

Khaled Abbas, deputy minister of housing for national projects, said that the housing ministry is currently seeking to provide export incentives to support the construction sector.

Egypt Targets Increasing Urban Areas to 12%: Official

Deputy Minister of Housing, Utilities, and Urban Communities for National Projects Khaled Abbas said that Egypt’s strategic plan targets increasing its urban areas to 12%, adding that the government is planning to develop all cities across the country.

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