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IMF Agrees on USD 2 bn Disbursement to Egypt

The International Monetary Fund (IMF) said on October 31 it had reached a staff-level agreement with Egypt to disburse another USD 2 bn in funds, bringing the total disbursements under the program to nearly USD 10 bn, out of the country's USD 12 billion extended fund facility arrangement

Egypt Seeks 10% GDP Growth by FY 2029/30: Minister

Planning Minister Hala El-Saeed said on October 31 that the government is seeking to achieve a growth rate of 10% in the country's GDP by the end of FY 2029/30

Mariout Hills Developments Invests EGP 500 mn in New Alamein

Mariout Hills Developments, a subsidiary of Mariout Hills Group, has revealed that the company had injected initial investments worth EGP 500 mn in New Alamein city, intending to expand into new cities in the near future

Egypt’s Orascom Investment Seeks to Acquire 30% of Sarwa Capital

Egypt-based Orascom Investment Holding, formerly Orascom Telecom Media and Technology Holding (OTMT), said it is looking to acquire 30% of Sarwa Capital’s shares in November, particularly due to the deal's attractive price

HDRIC Pumps EGP 700 mn in 6th of October City’s Tala Compound

Housing and Development Real Estate Investment (HDRIC), one of Housing and Development Bank’s (HDB's) companies, has pumped investments of EGP 700 mn in "Tala" project in 6th of October City, intending to deliver the residential compound by mid-2020

NUCA Announces 1st Five Land Offers in New Alamein, New Mansoura

The New Urban Communities Authority (NUCA) announced its initial land offer in the New Mansoura and New Alamein cities as booklets for five sites dedicated to integrated urban activity are offered in both cities to applicants starting from 23 October

Heliopolis Housing to Sell Some Acres in New Heliopolis City

Heliopolis Company for Housing and Development announced on October 24 that it will sell around 30 to 100 acres of land plots in the New Heliopolis City project to be used for residential, commercial, and service purposes

Thumbay Group Eyes Establishing Gulf Medical University in Egypt

UAE-based Thumbay Group seeks to inject investments worth AED 1 bn (roughly EGP 5 bn) via the establishment of a branch of the Gulf Medical University in Egypt

Landmark Sabbour, Lakeside to Develop EGP 10 bn Project in New Cairo

Landmark Sabbour has signed a memorandum of understanding (MoU) with Libyan-based Lakeside for Real Estate and Touristic Investments, a subsidiary of Libyan Foreign Investment Company,  to cooperate on a new project in New Cairo with total investments of EGP 10 bn

Hilton Ponders to Run 25 Properties in Egypt by 2022

With a portfolio of 17 properties across Egypt, the leading global hospitality company Hilton has unveiled its ambitious plans to expand in the country and run 25 properties by 2022

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