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Egypt, KSA Ink Deal for Young Entrepreneurs in Tourism Field

Tourism Minister Rania Al Mashat has inked a deal with President of the Saudi Commission for Tourism and National Heritage (SCTH) Prince Sultan bin Salman bin Abdul Aziz on supporting the Arab young entrepreneurs in the tourism field

Porto Receives Plot to Develop New Project in Mostakbal City

Egypt's Porto for Tourism Development, a subsidiary of Porto Group, has received a land plot from El Mostakbal for Urban Development - master developer of Mostakbal City - to develop its newest residential project in the new city, Porto City

Fitch Solutions Sees Egypt’s Fiscal Deficit Shrinking to 6.4% of GDP by FY 2019/20

Giant financial services provider Fitch Solutions said it anticipates Egypt's fiscal deficit to shrink from an estimated 9.4% of GDP in FY 2017/18 to 7.8% and 6.4% of GDP in FY 2018/19 and FY 2019/20, respectively

Palm Hills to Raise The Crown’s Credit Facility Limit

Egypt-based Palm Hills Developments' board has approved increasing the credit facility limit for The Crown compound, west Cairo, to EGP 1.24 bn from EGP 852 mn

Sisi Tours Some Development Projects at El Galala City

President Abdel-Fattah El-Sisi has embarked on an inspection tour of a number of mega development projects being implemented at El Galala City in the northeastern governorate of Suez, Ain Sokhna

Marakez, Al-Futtaim Misr to Open West Cairo’s 1st IKEA Store by 2020

Marakez for Real Estate Investment, a subsidiary of Fawaz Al Hokair Group, has signed a long-term agreement with Al-Futtaim Misr for Retail to open a new IKEA store at the Mall of Arabia in West Cairo by 2020

ACUD Studies 43 Requests for Acquiring Lands in NAC

Deputy Chairman of Administrative Capital for Urban Development (ACUD) Mohamed Abdel Latif has unveiled that the company is currently studying 43 requests submitted for the third offering of lands at the New Administrative Capital (NAC)

Development Projects Worth EGP 27.2 bn Implemented in Q1 2018/19: Minister

Egypt's Planning Minister Hala El-Saeed has unveiled that 490 development projects were implemented in the state's distinct sectors during Q1 of FY 2018/19, at a total cost of EGP 27.2 bn

Exclusive: Residency-for-Property Decree Officially Issued

Deputy Minister of Housing for National Projects Khaled Abbas says in an exclusive statement to Invest-Gate that the residency-for-property ministerial decree has been officially issued and approved by Passports, Emigration & Nationality Administration, and the Ministry of Interior.

Kuwait’s NREC Unit Signs Deal to Develop Some Housing Units in Egypt

Kuwaiti National Real Estate Company’s (NREC’s) unit Wadi El Nile Urban Development has signed a partnership agreement with Baderddin Group to develop part of Egypt’s housing units

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