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IMF Board Approves USD 2 bn Tranche to Egypt

The International Monetary Fund’s (IMF's) executive board completed on February 2 the fourth review of Egypt’s economic reform program, allowing the country to draw about USD 2 bn worth of loan, bringing the country's total disbursements to USD 10 bn.

Madbouly Reviews Latest Updates on New Cities

Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly held a meeting with officials from the New Urban Communities Authority (NUCA) and the housing ministry’s leaders to follow up on the progress of projects in New Mansoura, New Aswan, and Nasser City - west Assiut.

German Investments in Egypt Exceed USD 7 bn

German Federal Minister for Economic Affairs and Energy Peter Altmaier has revealed that German investments in Egypt have recorded USD 7.1 bn.

Finance Ministry Signs 8 Contracts for 24 Language Schools

The Ministry of Finance has announced the signing of contracts with eight Egyptian and Arab investment companies for the establishment of 24 language schools in seven governorates.

Emaar Misr Denies Talks Over Acquisition of MNHD

Cairo-based Emaar Misr for Development has denied news regarding negotiations with Madinet Nasr Housing and Development (MNHD) over an acquisition.

Gov’t Seeks Extending Mortgage Finance

Egypt’s Ministry of Housing is currently studying other alternatives for the state’s limited mortgage finance system, taking into account the initiatives and suggestions proposed by some real estate developers, including launching a fund to support the interest rates of real estate’s finance, in addition to other funds in order to modify the current initiative

New Fayoum to Have New Industrial Zone: Official

Head of New Fayoum City Authority Ashraf Abdulrahman has announced the launch of a 50-acre new industrial zone project, east of New Fayoum's residential district, on the Western Desert Road

Egypt Achieves 5.4% Economic Growth in H1 FY 2018/19

Egypt has managed to achieve a real economic growth rate of 5.4% during the first half of the current FY, while targeting reaching 5.6% during the second half of the same year and 5.8% by the end of it.

Palm Hills to Tailor Special Program for Badya City

Egypt-based real estate developer Palm Hills Developments (PHD) has announced collaborating with Milan's SDA Bocconi School of Management to tailor "a specially designed program" for the former company's project, Badya City.

Gov’t Inaugurates New Sphinx Authority’s Headquarters

Vice President of New Urban Communities Authority (NUCA) Abdulmutallab Mamdouh inaugurated on January 28 the administrative headquarters of New Sphinx Authority, west Cairo.

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