economic growth
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Investment
Fitch Solutions Downgrades Projections for Egypt’s GDP growth
Monday, 11 January 2021
Fitch Solutions has downgraded its projections for Egypt’s real GDP growth for the second time in two months to reach 3% in 2021, down from the 3.2 % that in December 2020
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Business
Dubai Property Prices Drop 0.9%, Rents Fall 6.9% in Q3 2020
Wednesday, 23 December 2020
The Central Bank of the UAE (CBUAE) has reported that residential prices in Dubai dropped 0.9% YoY in Q3 2020, referring to inexorable pressure from the ongoing Coronavirus crisis.
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Developers
Al Ahly Sabbour Inks USD 100 mn Facility Management Deals
Sunday, 13 December 2020
Al Ahly Sabbour Developments and UAE-based Eltizam Asset Management Group have agreed on two joint ventures (JVs), with a combined value of USD 100 mn (EGP 1.57 bn), for the provision of integrated facility and community management services to four of the former Egyptian developer's projects across the country.
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Business
Egyptian Expats’ Remittances Rise 19.6% From July to September: CBE
Wednesday, 9 December 2020
The Central Bank of Egypt (CBE) has uncovered that remittances sent home by Egyptian expats inched up by 19.6% YoY, or USD 1.3 bn (EGP 20.4 bn), during the first quarter of FY 2020/21.
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Business
NBK Sees COVID-19 Scars on Egyptian Economy Worn Off
Monday, 7 December 2020
The National Bank of Kuwait (NBK) has recently found that the Egyptian economy’s performance promises hopeful prospects, as the worst repercussions of the novel COVID-19 crisis wears off.
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Government
El Gazzar Meets Export Council for Real Estate Investment Members to Address Property Export
Tuesday, 8 September 2020
Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has met with members of the Export Council for Real Estate Investment to discuss future mechanisms to catalyze exporting real estate in Egypt.
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Developers
Elsewedy, El Mostakbal Agree on EGP 423.3 mn Infrastructure Work
Thursday, 18 June 2020
El Mostakbal for Urban Development has signed an EGP 423.3 mn deal with Elsewedy Electric's unit to carry out electricity and telecommunications infrastructure of the latter east Cairo project’s phase III.
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Government
Construction at NAC Continues in Full Swing
Sunday, 17 May 2020
Construction at the New Administrative Capital (NAC) is moving forward in full swing, with work being stretched over two shifts and a 70% labor force present on-site.
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Investment
Flexible Offices Can Add USD 254 bn to Economies: Regus
Monday, 23 December 2019
The latest research by Regus, the global workplace provider, has revealed that flexible workspaces will contribute over USD 254 bn (EGP 4.09 trn) to local economies in the next decade.
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Investment
Egypt, UAE Release USD 200 bn Joint Strategic Investment Platform
Sunday, 17 November 2019
Egypt and the UAE have agreed to establish a USD 20 bn (EGP 322.6 bn) joint strategic investment platform, funded equally by the state-run Abu Dhabi Development Holding Company (ADDHC) and the Egyptian newly-introduced sovereign wealth fund, Tharaa.
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Expo 2020 Pavilions Premiere Launched
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Last Modified January 26, 2021