Egypt Signs EGP 3.2 B MoU with EBRD for Heliopolis Tram, Irrigation Upgrade

• Wednesday, 11th May 2016
• by Nadine Abou el Atta

The Ministry of International Cooperation of Egypt signed two Memoranda of Understandings (MoU) with the European Bank for Reconstruction and Development (EBRD), for the transport and water sector, reported Zawya.

Orascom Construction to Borrow EGP 800 M from OFID

• Wednesday, 11th May 2016
• by Nadine Abou el Atta

Orascom Construction Industries (OCI) is about to secure a loan worth up to EGP 800 million ($90 million) from OPEC Fund for International Development (OFID) and the European Bank for Reconstruction and Development (EBRD), according to Al Mal News.

SWA to Finalize Plans for 500 Acre Project

• Tuesday, 10th May 2016
• by Nadine Abou el Atta

SWA, an international landscape architecture company, will finish development plans for a 500-acre project in New Cairo in June before the project’s introduction to the market in final quarter of 2016, said Yasseen Mansour, Palm Hills Chairperson, to Daily News Egypt.

Abraj Misr Signs EGP 300 M Contracts for The Shore

• Tuesday, 10th May 2016
• by Nadine Abou el Atta

Abraj Misr, an Egypt-based real estate developer, signed contracts worth EGP 300 million for construction work in The Shore, its North Coast project, said Tarek Bahaa, Abraj Misr commercial director, according to Amwal Al Ghad.

Al Futtaim Plans to Sign EGP 1 B in Contracts in 2016

• Tuesday, 10th May 2016
• by Nadine Abou el Atta

Al Futtaim Real Estate intends to sign contracts worth EGP 1 billion in 2016, while also increasing investment in its Cairo Festival City projects by EGP 2 billion, for a total investment of EGP 19 billion, the company’s Managing Director Mohamed Al Mikawi told Daily News Egypt.

Egypt Establishes New Company to Manage the Administrative Capital

• Monday, 9th May 2016
• by Nadine Abou el Atta

A new company, Administrative Capital City for Urban Development, was founded to manage the proposed administrative capital city project, reported Invest Gate.

Orascom Construction wins EGP 2.7 B Cairo Metro Line Contracts

• Monday, 9th May 2016
• by Nadine Abou el Atta

Orascom Constructions Limited, an Egypt-based construction company, acquired two contracts to develop the civil and track work of Cairo Metro Line III. The contracts are worth EGP 2.73 billion, reported Reuters.

Egypt’s Mortgage Sector Rose by 30 % in 2016

• Sunday, 8th May 2016
• by Nadine Abou el Atta

First quarter mortgage activity in Egypt rose by 30 percent, said Sherif Samy, head of the Egyptian Financial Supervisory Authority (EFSA), according to Amwal Al Ghad.

China’s CSCEC Finalizes Design of the Financial District of the New Administrative Capital

• Saturday, 7th May 2016
• by Nadine Abou el Atta

The Chinese company CSCEC has finalized the design of the financial district in the new administrative capital project, which includes 12 ministries, as well as some government departments and bodies Khaled Abbass, Assistant to the Minister of Housing, told Invest Gate.

Wadi Degla Eyes 2,500 Acres for New Projects using PPP system

• Thursday, 5th May 2016
• by Nadine Abou el Atta

Wadi Degla Holding, an Egyptian real estate developer, is in discussions with the Ministry of Housing over 2,500 acres for new housing projects through the public-private partnership (PPP) system, Wadi Degla’s Chairman Maged Helmy told Amwal Al Ghad.