News / Egypt

Egypt’s Inflation Drops, Surpasses IMF Prediction

Egypt's annual inflation rate dropped to 11.4% in May, down from 13.1% in April, the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed on Sunday, June 10, a larger fall than the International Monetary Fund (IMF) had predicted.

Military Production, Housing Ministers Sign Protocol for New Projects

Minister of Military Production Mohamed El Assar and Minister of Housing, Utilities, and Social Development Mostafa Madbouly have signed on June 6 a cooperation protocol to implement national and developmental projects in Egypt

Orascom Development, NUCA to Build a Replica of El Gouna

Orascom Development Egypt has reached a settlement agreement with the New Urban Communities Authority (NUCA) to build a replica of El Gouna in 6th of October city

Madbouly Appointed Egypt’s Prime Minister

President Abdel-Fattah El-Sisi has appointed Mostafa Madbouly, the former Minister of Housing, Utilities and Urban Communities, as the new prime minister on Thursday, June 7

M2 Developments Reveals Their Latest Project in North Coast

Egyptian real estate developer M2 Developments has revealed its latest project in the North Coast in a pre-launch event held on June 4

Gov’t to Deliver Land Plots in New Borg El Arab

The New Urban Communities Authority (NUCA) will begin allocating land plots in New Borg El Arab City for different income classes from June 24 until August 16

Cabinet Approves Agreement to Produce Solar Panels in Aswan

Egyptian cabinet has approved a framework agreement between the National Authority for Military Production and China-based company GCL to build a solar panels manufacturing complex in Aswan with a manufacturing capacity of 5 gigawatts

MNHD Eyes EGP 1 bn Loan From CIB

Egyptian developer Madinet Nasr Housing and Development (MNHD) has ratified signing a medium-term loan with the Commercial Bank of Egypt (CIB) worth EGP 1 bn to fund two projects

DM Developments to Invest EGP 4 bn in Ain Sokhna’s The Groove

Egypt's developer DM Development has announced its plan to implement their new project, The Groove, in Ain Sokhna with total investments of EGP 4 bn

Egypt, China Sign MoU for First Industrial Zone in New Al-Alamein

The New Urban Communities Authority (NUCA) signs a memorandum of understanding with Chinese construction company, CGCOC Group, to establish the first industrial zone in New Al-Alamein

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