News / Egypt

US Firm Values Orascom’s El Gouna Assets at USD 2.1 bn

Orascom Development Holding (ODH) said that a new report by a US firm has valued its land banks and 17 hotels at the Red Sea resort of El Gouna at USD 2.1 bn, 42 times its current book value

Investments in New Damietta Hit EGP 7.2 bn: Madbouly

Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly said the total investments in New Damietta reached EGP 7.2 bn, with about 984 distinguished housing units will soon be finalized and offered shortly afterwards

Egypt, World Bank Sign USD 300 mn Fund for Rural Areas’ Infrastructure

Egypt and the World Bank (WB) have signed a USD 300 mn agreement to bolster the infrastructure in rural areas and most needy governorates, proceeding with the "Sustainable Rural Sanitation Services Program"

Egypt, EIB Ink EUR 214 mn Deal for Sanitation Services in Nile Delta

Egypt and the European Investment Bank (EIB) signed on October 17 an EUR 214 mn deal to support the Kitchener Drain depollution project, out of total financing worth EUR 400 mn

Gov’t Approves New Social Housing Fund’s Operating Procedures

The board of directors of the Social Housing and Mortgage Finance Fund has approved the fund's operating procedures manual, targeting to provide low-income citizens with real estate financing at a low interest rate

Heliopolis Housing Approves EGP 1.2 bn Loan

Heliopolis Company for Housing and Development said its board of directors approved on October 17 a long-term loan worth about EGP 1.2 bn from a national bank, to be reimbursed in seven years and a half

Master Group Markets 80% of “The City” in New Capital

Egypt's property developer Master Group says that it has marketed 80% of its flagship "The City" in the New Administrative Capital, aiming to complete the project's marketing by the end of October

Capital Group Properties Inaugurates Alburouj Cultural Hub

Capital Group Properties (CGP), owned by Abu Dhabi Capital Group (ADCG) and Al Ain Properties, has announced the inauguration of "Alburouj Cultural Hub" at its Alburouj project in El Shorouk city

Edge Holding Plans to Invest EGP 25 bn in New Projects

Egypt-based Edge Holding for Urban Development plans to invest nearly EGP 25 bn in Egypt's real estate market in the next 10 years, intending to implement residential skyscrapers in New Alamein as well as another project in Ain Sokhna

Idia Designs Unveils Preliminary Details on Oblisco Capitale Tower

Idia Designs, an architectural design firm, has revealed some preliminary details on the chosen design of its New Administrative Capital's landmark, the "Oblisco Capitale Tower," which is deemed to surpass Dubai's Burj Khalifa in stature

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