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Egypt Increases Urban Areas for Growing Population: Official

Tarek Shoukri, head of the Real Estate Development Chamber affiliated to the Federation of Egyptian Industries (FEI), said Egypt is witnessing the implementation of a massive volume of development projects to increase the number of urban areas, and thus, accommodate the ongoing population leap

ACUD, Petroleum Ministry Ink Deal for First Cooling District in NAC

Egypt's property developer Administrative Capital for Urban Development (ACUD) has inked a deal with the Egypt's Petroleum Ministry to establish the first cooling district in the New Administrative Capital (NAC), with the project's first phase to be implemented with investments valued at EGP 2.5 bn

National Projects Revitalize Egyptian Construction Market: Arab Contractors

Arab Contractors Chairman Mohsen Salah said Egypt's vast series of national projects over the past years has contributed to revitalizing the country's construction market and ending a colossal chunk of its stagnation crises

Inertia Egypt Reveals Latest Updates on Joulz

Egypt's real estate developer Inertia Egypt revealed on December 3 the latest updates on one of its flagship residential developments, Joulz – a neighborhood in the heart of West Cairo with a mixed-use area

Orascom Construction’s Adjusted Net Income Rise 208.5% in Q3 2018

Egypt-based Orascom Construction maintained its positive position in the third quarter of 2018, posting a 208.5% surge in its adjusted net income of USD 69.1 mn versus USD 22.4 mn in the year-ago period, excluding one-off US legal provision

EFG Hermes to Set Foot in Insurance, Mortgage Sectors

Egypt's investment bank EFG Hermes is planning to expand by adding insurance and mortgage lending to its services after getting regulatory approval, while also seeking to set foot in a new market in Asia or Africa within a year

Pyramids Developments to Invest EGP 1.5 bn in La Capitale Project

Pyramids Developments has so far pumped investments worth EGP 450 mn in La Capitale project in the New Administrative Capital (NAC) and targets raising this figure to record EGP 1 bn in the coming two years.

ABB Relocates its Headquarters to New Smart Building in New Cairo

Swiss-Swedish engineering giant ABB Group has announced that it has relocated its Egypt-based branch to a new administrative headquarters in New Cairo, on 90th Street, on an area of 8,400 square meter

Oriental Weavers to Build New Industrial City in Ain Sokhna

Egypt-based Oriental Weavers Company has begun constructing a new industrial city in Ain Sokhna "Masnaay," to be developed and managed by its subsidiary Orientals for Industrial Development and would cater to both small and medium enterprises (SMEs) and heavy industries

Egyptian Non-Oil Trade Exchange Grows 16.8% YoY in 10M

Egypt's non-oil trade exchange soared 16.8% YoY during the January-to-October period of 2018, logging USD 78.40 bn versus USD 67.96 bn in the prior-year period

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