Day: March 11, 2025

Mountain View for Development and Real Estate Investment has set an ambitious target of EGP 150bn in sales for 2025 while planning EGP 50bn in investments, including EGP 18bn allocated to construction. The announcement follows a year of exceptional achievements, securing Mountain View’s position among Egypt’s top three real estate…

The Engineering Export Council of Egypt (EECE), led by Sherif El-Sayyad, announced that engineering exports increased by 42% in January 2025, reaching $526.2m compared to $371.4m in January 2024. El-Sayyad emphasized that this strong start to the year reinforces the council’s vision to achieve a historic milestone, surpassing the $6bn…

Egypt is prioritising renewable energy in its new investment plan to become a regional energy hub, officials announced after a meeting between Planning Minister Rania al-Mashat and Electricity Minister Mahmoud Essmat on Tuesday. The discussions focused on the electricity and renewable energy sector’s investment strategy for fiscal year 2025/26. Al-Mashat…

The United Nations Office on Drugs and Crime (UNODC) has selected Egypt as the first country globally to implement the “CHAMPS” initiative, a groundbreaking initiative aimed at strengthening prevention systems for children up to the age of 18. This decision not only highlights Egypt’s key role in this critical area…

In a bid to enhance investment opportunities for Egyptians abroad, the New Egyptian Countryside Development Company has launched a new initiative titled “Your Farm in Egypt,” in collaboration with the Ministries of Foreign Affairs and Migration and Egyptians Abroad Affairs. The initiative aims to enable expatriates to participate in the…

Orascom Development Egypt (ODE) has announced its consolidated results for Q4 2024, reporting record-breaking financial performance for the fiscal year (FY) 2024. The company achieved EGP 32.5bn in real estate sales, reflecting a 67% year-over-year (YoY) growth, with revenues surging 42% to EGP 21.8bn. Despite foreign exchange (FX) losses of…

The International Finance Corporation (IFC) is expanding its partnership with Kazyon Group to support the development of Morocco’s discount grocery retail sector. This initiative aims to improve access to quality food and create tens of thousands of jobs, particularly for young people and women in rural areas. IFC’s $30m loan…

Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, took part in the CERAWEEK global energy conference, held from 10 to 14 March, in Houston, Texas. Themed “Moving Forward: Energy Strategies in a Complex World,” this year’s event focuses on the challenges of ensuring energy security and supply, advancing the…

Egypt’s Deputy Prime Minister and Minister of Health and Population, Khaled Abdel Ghaffar, met with Natalie Meyer, UNICEF Representative in Egypt, and her delegation to discuss enhancing collaboration in healthcare, nutrition, and mental health, as well as Egypt’s role in supporting Palestinians in Gaza amid the ongoing humanitarian crisis. According…

Egypt’s annual inflation rate in urban areas has significantly decreased to 12.8 percent in February, down from 24 percent in January, marking the lowest level since March 2022.  This decline follows a peak of 38 percent in September 2023, driven largely by the devaluation of the Egyptian pound and subsequent…