News / Egypt

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

Tatweer Misr, GEN Sign MoU For EGP 120 mn Entrepreneurship Hub

Egypt's real estate developer Tatweer Misr has inked a memorandum of understanding (MoU) with Global Entrepreneurship (GEN) to develop an entrepreneurship hub in Tatweer Misr's Bloomfields compound in Mostakbal City at an investment cost of EGP 120 mn

Misr Italia, El Mostakbal to Co-Develop New Project in Mostakbal City

Egypt’s property developer Misr Italia Properties and El Mostakbal for Urban Development have inked a deal for the co-development of an integrated residential compound in Mostakbal City with initial investments worth nearly EGP 22 bn and expected sales of EGP 36 bn

Zahya’s 1st Phase is Sold Out With EGP 1.5 bn Sales

Egypt's real estate developer City Edge Developments announced selling all units of the first phase of its newest development in New Mansoura, Zahya, with total sales of EGP 1.5 bn

Egypt’s Foreign Reserves Reach USD 44.5 bn in October: CBE

The Central Bank of Egypt (CBE) announced on November 5 that the country's foreign currency reserves continued its upward trend and increased by USD 44.501 bn at the end of October, a bit higher than USD 44.459 bn in September

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