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Egyptian Expats’ Remittances Up 5.7% in 11 M: CBE

The Central Bank of Egypt (CBE) has announced that remittances from Egyptian expats, one of the country’s main sources of foreign currency, hiked by 5.7% - or USD 1.2 bn - in the first 11 months of 2018 to USD 23.3 bn.

Marseilia Group Eyes New Joint Project in NAC

Egypt's Marseilia Real Estate Investment Group is intending to sign a deal for a joint project with one of the urban development companies at the New Administrative Capital (NAC), aiming to develop a land area with one of the dedicated companies.

Tatweer Misr, Schneider Electric Ink MoU for 3 Projects

Egypt's real estate developer Tatweer Misr has signed a memorandum of understanding (MoU) with Schneider Electric Egypt on building and designing smart city facilities within three of its residential projects across Egypt.

Parliament Preliminary Approves Draft Law on Reconciliation in Building Violations

Egyptian parliament’s General Committee gave preliminary approval for the draft law on reconciliation in building violations on January 25, which is expected to provide the government with about EGP 150 bn when issued.

EU Allocates EUR 3.1 mn to Transform Egyptian Museum of Cairo

The European Union (EU) has launched a three-year project valued at EUR 3.1 mn for the transformation of the Egyptian Museum of Cairo (EMC), west Cairo, as part of EU's efforts and continuous process of building a sense of community and strengthening the civil society.

Lazard to Promote Egypt’s Investment Opportunities Worldwide

Ministry of Investment and International Cooperation has inked an agreement with financial advisory firm Lazard to promote investment opportunities in Egypt worldwide, on the sidelines of the World Economic Forum Annual Meeting 2019 in Davos, Switzerland, and in the attendance of Egypt's Prime Minister Mostafa Madbouly.

Sphinx Int’l Airport Witnesses First Run of Domestic Flights

Ministers of Civil Aviation and Tourism witnessed the experimental operation of domestic flights for the first time from Sphinx International Airport, west Cairo, which began on January 25 and set to last until February 9, in a bid to boost the country's tourism.

TMG Holding Awarded Egypt’s Top Developer for 2018

Egypt-based property developer Talaat Moustafa Group Holding (TMG Holding) was named "The Top Real Estate Developer in Egypt for 2018," during an honoring ceremony that awarded top 100 companies operating in the Egyptian market.

Delivery of Beit Al Watan Lands in New Damietta Started: Official

Head of New Damietta Development Authority Mohamed Ragab said the authority has started delivering plots of the fifth and complementary fifth phases of Beit Al Watan’s lands in New Damietta for Egyptian expats.

Housing Committee to Discuss Real Estate Development Bill

The House of Representatives’ Housing Committee will discuss on January 28 a draft law to regulate real estate development and to establish a federation for real estate developers.

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