Day: March 12, 2024

Egyptian Minister of International Cooperation Rania al-Mashat explained that Egyptian-German developmental cooperation is witnessing remarkable developments, enhancing Egypt’s developmental efforts in various fields. Mashat added that, through joint political declaration, Germany has pledged to make 258 million euros available in the form of debt swaps, grants and concessional financing. The…

Egypt expects to receive about five to six billion dollars (LE246 to LE296 billion) in funding from the European Union soon, according to Egyptian Finance Minister Mohamed Maait in an interview with Asharq Business. Maait explained on Thursday that the new agreement with the International Monetary Fund (IMF) would stimulate…

Visa announced the signing of a seven-year agreement with Western Union (WU), allowing WU customers to receive money from their families and friends using eligible cards and bank accounts in 40 countries distributed over five different regions. The agreement includes issuing cards, integrating the services provided by WU into the…

El Gouna, a sustainable and integrated town by the Red Sea developed by Orascom Development, has partnered with Heazy Skate Park to create the largest skate park in Africa. The partnership was announced during the Egypt Sports Expo, with the support of the Ministry of Youth and Sports. This collaboration…

Tatweer Misr plans to invest EGP 10bn in 2024 to expand its project portfolio. This represents a 65% increase from the previous year and the highest investment value in the company’s history. The company aims to support the national economy by developing integrated and sustainable urban communities that add value…

Misr Italia Properties (MIP), a leading real estate developer in Egypt, hosted a grand ceremony at Cairo Business Park, East Cairo’s entrepreneurship and innovation hub, to reveal IL BOSCO Commercial Hub and announce its partnership with Marriott International for Marriott Executive Apartments and Westin Residences in the Vertical Forest, the…

The Crest, a new residential project by IL Cazar, has been launched with an investment of EGP 30bn. The project covers an area of 158 acres and is the first collaboration between IL Cazar and Emirati UDC Real Estate Development, a subsidiary of MOBH Holding. The Crest aims to be…

The Administrative Capital for Urban Development (ACUD), the company in charge of developing Egypt’s New Administrative Capital, is set to sign about five partnerships with major Egyptian and Gulf developers for large plots of land in the first phase of the project, said Khaled Abbas, the Chairperson and Managing Director…

Four U Development (FUD), a subsidiary of Al Batal Real Estate Investment Group, has launched O|Kardia, a mixed-use project in New Obour City, with a total investment of EGP 3bn. FUD’s Chairperson Reda Karas said that the company has been operating in the real estate market for 24 years and…

The recent policy shifts are set to infuse the stock market with significant dollar liquidity. Government offerings are slated for the second half of the year, with foreign cash inflows anticipated to hit $10 billion by 2024’s end. The drive to contain inflation continues to underpin ongoing monetary tightening. The…