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Ora Developers Unveils 1st Multi-Tower Development in Sheikh Zayed

Egyptian tycoon Naguib Sawiris’ Ora Developers officially kicked off on May 23 its first mixed-use residential project, ZED, located in 6th of October City's Sheikh Zayed, west Cairo, with investments amounted to EGP 35 bn.

Iwan Developments to Launch 2 Residential Projects Outside West Cairo

Iwan Developments unveiled on May 22 its intentions to launch two new residential projects in New Cairo and Ain Sokhna, following the allocation of lands in these areas last February.

El Gazzar Reviews Development of Unsafe Slums, Maspero Triangle

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar held a meeting on May 17 to follow up on the development of Egypt's unsafe informal areas as well as progress made with regards to Maspero Triangle Development Project.

Borg El Arab Development Axis Sees EGP 700 mn Expansion Works: Minister

Egypt's Transport Minister Kamel El Wazir announced on May 24 the completion of developing and expanding Borg El Arab Development Axis, with a total cost reaching EGP 700 mn

Egypt Inks EUR 2 bn Electricity Deal with Cyprus, Greece

Egypt has inked a cooperation agreement worth about EUR 2 bn with Cyprus-based EuroAfrica Interconnector to link the power grids of Egypt, Cyprus, and Greece through Crete, the latter's largest island, aiming to transmit 2,000 megawatts of electricity in either direction in the near future

Egypt Sets Guinness World Record with Tahya Misr Bridge

President Abdel Fattah El-Sisi inaugurated on May 15 Rod El Farag Axis Bridge - or "Tahya Misr Bridge," setting a new Guinness World Record for being the widest cable-stayed bridge with a width of 67.36 meters

SODIC Revenues Grow 84% in Q1 2019

Sixth of October Development and Investment (SODIC) reported on May 19 a sharp rise of 84% YoY in its Q1 2019 revenues, logging EGP 941 mn, compared to EGP 512 mn in the year-ago period, on the back of early handovers at one of its New Cairo projects.

Arkan Palm, Gensler Sign Deal to Develop Designs for 205-Acre Project

Arkan Palm for Real Estate Investment Company, a subsidiary of Palm Hills Developments, and Gensler, a global design and architecture firm, signed on May 22 a contract to develop designs and a detailed masterplan of the former's 205-acre project in Sheikh Zayed, west Cairo.

Real Estate Chamber Studies Mechanism for Developers’ Participation in Social Housing

The Real Estate Development Chamber at the Federation of Egyptian Industries (FEI) is considering the mechanism of private real estate compnaies' participation in the development of low- and middle-income housing projects

Master Group Plans for Largest Water Park in Ain Sokhna

Master Group revealed its plan for the establishment of the largest water park city, Ibiza Chillout, in Ain Sokhna, with investments up to EGP 3 bn

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