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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

81 Investment Projects Approved in Over 16 Cities: Official

Walid Abbas, assistant minister for community affairs of the New Urban Communities Authority (NUCA), said that 81 investment projects have been approved in more than 16 cities, spreading over a total of 13,697 acres

Misr Italia Properties Targets EGP 4.5 bn Sales in 2019: Co-CEO

Misr Italia Properties announced it targets achieving EGP 4.5 bn of sales in 2019, compared to EGP 3.5 bn sales achieved during the period from January to September 2018

City Edge Developments Hosts Reception Ceremony for EPS in London

Egypt-based property developer City Edge Developments has hosted a reception ceremony in London, under the auspices of Egyptian Ambassador to the UK Tarek Adel, on the sidelines of Egypt Property Show (EPS) in London, as part of its marketing plan to export Egyptian real estate abroad

Misr Italia Properties Unveils Details on 2nd Project in New Capital

Egypt’s real estate developer Misr Italia Properties has held a roundtable in the presence of its officials to reveal all details related to its second premium residential compound in the New Administrative Capital, Vinci, in the diplomatic district of the new capital's first phase, following the "massive success" of its first project in the new smart city - IL BOSCO

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