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TMG Holding’s Profits Rise 12.5% to EGP 1.25 bn in 9M

Egypt-based property developer Talaat Moustafa Group Holding (TMG Holding) has recorded a 12.5% surge in its net profit to EGP 1.25 bn in the first nine months of 2018, up from EGP 1.1 bn in the year-ago period

Gov’t Earmarks EGP 2.48 mn Investments to New Valley in FY 2018/19

The value of the Egyptian government's earmarked investments in the New Valley is estimated at EGP 2.48 mn in the FY 2018/19, Planning Minister Hala El-Saeed stated on November 12, underlining the province's promising investment opportunities and massive competitive capabilities

NUCA Extends Deadline to Submit Applications for Lands in New Sphinx City

Tarek El Sebai, deputy chairman of New Urban Communities Authority (NUCA) for Real Estate and Commercial Affairs, said that the submission period for applications of those who already hold sale contracts or land ownership documents for plots within the new Sphinx City boundaries have been extended to November 29

Rofaida Begins Initial Delivery of Row Marina’s 1st Phase

Egypt’s property investment company Rofaida Real Estate has started the initial delivery of the first phase of Row Marina Resort project in North Coast, aiming for the project to commence operations by next summer

New Administrative Capital to Soon Embrace 1st German University

A high-level German delegation is looking forward to establishing the first international German university in the new capital, head of the New Administrative Capital Authority said on November 13

Marseilia Expects to Log EGP 3 bn Sales Contracts in 2019

Egypt-based Marseilia for Real Estate Investment is expecting to record EGP 1.2 bn in sales by the end of this year, while foreseeing that it will achieve sales contracts worth EGP 3 bn in 2019

Orascom Plans to Launch “O West” in 6th of October City in Q1 2019

Egypt's Orascom Development plans to launch a new compound called "O West" in 6th of October City during the first quarter of next year

Annual Core Inflation Up to 8.86% in October: CBE

The Central of Egypt Bank (CBE) announced on November 11 that the annual core inflation jumped to 8.9% YoY in October, up from 8.6% in September, another leap in Egypt’s inflation indicators during the same month

Tourism to Comprise 15% of Egypt’s GDP in 2018: Minister

Minister of Tourism Rania Al-Mashat foresees that possibly 10 mn tourists will be visiting Egypt in 2018 in a feat that will see the industry contribute almost 15% to the country's GDP this year

S&P Affirms Egypt’s B/B Credit Rating With Stable Outlook

Standard & Poor’s (S&P) Global Ratings affirmed on November 9 the "B/B" long- and short-term foreign and local currency sovereign credit ratings on Egypt with a stable outlook, reflecting the potential of raising the country's rating next year

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