News / Egypt

Housing Ministry to Consider Establishing New Alamein Development Company

The Ministry of Housing, Utilities, and Urban Communities is currently is currently considering the establishment of a real estate investment company to manage the development of New Alamein City, in a partnership with the Ministry of Tourism and the Ministry of Defense, an official in the ministry of housing told Invest Gate.

New Convention Center in New Capital to Cost EGP 5.2 B

The infrastructure work of the new convention center in the new administrative capital is currently underway, at a cost of EGP 5.3 billion ($600 million), said Minister of Industry and Foreign Trade, Tarek Kabil.

Hassan Allam Awarded 40% of New Administrative Capital Infrastructure Work

Nasr General Contracting – Hassan Allam – has been awarded about 40% of the total infrastructure work for the new administrative capital – a total of EGP 400 million, said CEO of the company, Abdullah Khairy, reported Amwal Al Ghad.

UBE to Launch New Property Financing Product, Egara

A new property financing product, Egara, will be launched soon by the United Bank of Egypt (UBE) to finance residential units for low and medium-income individuals, according to Chairperson of UBE, Ashraf Al Kady, Daily News Egypt reported.

New Vision Set to Launch 5 New Projects for EGP 70 M

New Vision, a real estate investment company, aims to raise their investment portfolio in the Egyptian market to EGP 1 billion through investments in New Cairo, and Mohandessin, by the end of 2019, said Chairman of the Board of Directors, Mohamed Kamal.

GAFI Discussions Ongoing to Develop Taba-Nuweiba Region

There are ongoing discussions by the General Authority for Investment (GAFI) to put Taba and Nuweiba on the global investment map for tourism and investment, said member of the Nuweiba-Taba Tourism Investors Association, Hany Gawish, according to Daily News Egypt.

SECON Braces for 4 Star Hilton Hotel in New Damietta

The Saudi-Egyptian Construction Company (SECON) has signed with Hilton Worldwide, an agreement of managing a 4 star hotel in New Damietta City, as part of SECON Resort project, an investments worth EGP 120 million, Al Mal reported.

Ministry of Housing Offers 27,876 Social Housing Units in 17 Governorates

The Ministry of Housing has started the implementation of 27,876 residential units, in 17 governorates, to mark the third phase of the social housing project.

Government Opens Online Reservations for Beit Al Watan Project

Ministry of Housing, Utilities, and Urban Development announced on the 19th of June, the launch of its website for reserving units and land lots in the new phase of Beit Al Watan project. The project is tailored for Egyptians living abroad, and reservation will only be available for a period of three weeks, Invest Gate reported.

Housing and Sports Ministers Discuss Implementation of Sports Complex in Administrative Capital

Minister of Housing, Utilities and Urban Communities, Moustafa Madbouly and Minister of Youth and Sports, Khaled Abdel Aziz, held a meeting to discuss the implementation of the recreational sports complex in the new administrative capital.

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