Misr Italia and SECON Purchase Lands at New Administrative Capital

• Tuesday, 16th May 2017
• by Nayrouz Talaat

Egypt’s property developer, Misr Italia Group, and the Saudi Egyptian Construction Company (SECON) have purchased land plots at the New Administrative Capital spanning an area of 200 and 70 feddans respectively, Invest-Gate reports.

Mameesh: SCZone Eyes Attracting Several Industries

• Tuesday, 16th May 2017
• by Nayrouz Talaat

Chairman of the General Authority for the Suez Canal Economic Zone, Mohab Mameesh, says that the Suez Canal Development Project seeks to attract several industries, including automotive, electronics, ship repair, textiles, furniture and pharmaceuticals, Invest-Gate reports.

Egypt Inks Deal with Saudi alfanar for 50 MW Solar PV Plant

• Monday, 15th May 2017
• by Menna A. Farouk

The Egyptian Electricity Transmission Company (EETC) has signed a Power Purchase Agreement (PPA) with Saudi Arabia’s alfanar Energy for 50 megawatt (MW) PV plant under feed-in-tariff program in Egypt, Saudi Gazette reports.

Amer Group Q1 Profit Decreases 6% y-o-y

• Monday, 15th May 2017
• by Nayrouz Talaat

Egypt’s real estate developer Amer Group Holding Company posts consolidated net profit of EGP 63.95 mn in the first quarter of 2017, down by 6% compared with EGP 68.07 mn in the same period last year, Invest-Gate reports.

HDB’s Standalone Profit Rises in Q1

• Monday, 15th May 2017
• by Nayrouz Talaat

Egypt's Housing and Development Bank standalone net profit after tax accounts for EGP 349 mn in Q1 of 2017 compared to EGP 218 mn a year ago, Invest-Gate reports.

TMG Posts Net Profit of EGP 288.5 mn in Q1

• Monday, 15th May 2017
• by Nayrouz Talaat

Egypt’s real estate developer Talaat Mostafa Group (TMG) Holding Co. posts consolidated net profit after tax of EGP 288.5 mn in the first quarter of 2017, compared to EGP 207.8 mn in the same period a year earlier, Invest-Gate reports.

IMF Reaches Staff-Level Deal With Egypt to Unlock USD 1.25 bn

• Monday, 15th May 2017
• by Nayrouz Talaat

Egypt is reaching a staff-level agreement with the IMF that would help unlock the second tranche of a USD 12 bn loan to the Arab country, Invest-Gate reports.

Egypt Eyes Investments worth USD 15 bn from AIIB in Five Years

• Monday, 15th May 2017
• by Nayrouz Talaat

Egypt is eying investments worth USD 15 bn from the Asian Infrastructure Investment Bank (AIIB) to fund infrastructure projects in the coming five years, Invest-Gate reports.

Egypt Eyes Production of 84 mn Tons of Cement by 2020

• Thursday, 11th May 2017
• by Nayrouz Talaat

Egypt is eyeing the production of 84 mn tons of cement annually starting from 2020, Invest-Gate reports.

OLX Launches Storia New Section to Focus on Top 9 Premium Locations in Egypt

• Thursday, 11th May 2017
• by Nayrouz Talaat

Global online marketplace OLX announces the official launch of a new premium property section “Storia” as a platform to list properties in premium areas in Egypt, Invest-Gate reports.