Head of the New Qena Development Authority Radwan Abdel Rashid has revealed the imminent opening of the largest entertainment city in New Qena in Upper Egypt with estimated investments of around EGP 104 mn.

Mabany Edris acquires InterContinental Hotels and Resorts International (IHG) to manage the Holiday Inn hotel, the first internationally managed hotel at its Asaila compound in the heart of Upper Egypt in the New Assiut City,

Minister of Housing and Utilities and Urban Communities Assem El Gazzar states that the Ministry of Housing’s total investments in Upper Egypt governorates since 2014 amount to EGP 83 bn, Invest-Gate reports.

With Egypt's new regime under President Abdel Fattah El Sisi, Egypt has spent EGP 63bn on the development of Upper Egypt, Minister of Housing, Utilities, and Urban Communities Assem El Gazzar confirms

Egypt's Minister of Planning and Economic Development Hala El Saeed has confirmed the execution of 416 public developments in the electricity and renewable energy sector, at a value of EGP 95.6 bn, over the past two fiscal years.

Some Egyptian businessmen have recently acquired the New City Housing and Development Company (NCHD), a subsidiary of Orascom Development Egypt (ODE), through an English investment fund and one of GB Capital companies owned by Raouf Ghabbour, in a move valued at USD 50 mn (EGP 787.1 mn).

Orascom Development Egypt (ODE) has signed off on selling a 35.25% stake in its subsidiary New City Housing and Development Company (NCHD), at a total cost of EGP 128.6 mn, in line with its strategic plans to reinforce core business areas.

Manazel Real Estate Exhibition’s second edition kicked off on December 3 in Geziret El Ward Club, Mansoura, running for three days to host around 2,000 visitors, featuring unique incentives and attractive offers by the diverse range of exhibiting property developers.

Master Group Vice-Chairman Mohamed Mounir has unveiled the addition of the company's third real estate development in the New Administrative Capital (NAC) to its project portfolio in Q1 2021, while also affirming expansion into Upper Egypt.

Assem Al-Gazzar, Minister of Housing, Utilities and Urban Communities, has approved the allocation of 21 land plots in eight new cities in Upper Egypt, Invest-Gate reports.