Egypt's Prime Minister Mostafa Madbouly has announced that the government is currently preparing for establishing an industrial city project on an area of 5 million sqm in New 6th of October City.
The project includes industrial, logistical, (...)
Gold prices in Egypt witnessed unprecedented spikes several times after the Russian-Ukrainian crisis, reaching record-high levels. The price of a gram of 21-karat gold exceeded EGP1200 ($48.73) for the first time on 9 May, to exceed it on 15 (...)
The Board of Directors of the Real Estate Development Chamber at the Federation of Egyptian Industries presented the most prominent successes achieved by the chamber during 2022.
These successes were based on the continuous follow-up of market (...)
The International Monetary Fund (IMF) Executive Board Friday approved a 46-month arrangement under the Extended Fund Facility (EFF) for Egypt in an amount of $3bn.
Egypt's IMF-supported programme presents a comprehensive policy package to preserve (...)
Chairperson of the Urban Development Fund (UDF) Khaled Sedeek announced the opening of reservations for the Darah project — one of the projects of the presidential National Sustainable Cities initiative — starting from Sunday 18 December until (...)
The Egyptian government announced that it is reducing the subsidised financing tranche allocated within the mortgage financing initiative for the middle-income segment at an 8% interest rate on a decreasing basis to EGP 15bn instead of EGP 50bn (...)
Egypt is expected to gain about 2.7% in remittance flows for 2022 to reach $32bn, according to the World Bank's Remittances Brave Global Headwinds Special Focus: Climate Migration report.
The report said that this development may reflect a (...)
Manufacturers, exporters, and experts agreed that there is no doubt that the Egyptian pound flotation would significantly increase Egyptian exports.
They believe that the depreciation of the Egyptian pound against the dollar will increase the value (...)
"Schneider Electric builds a culture of respect where everyone feels safe to be their authentic selves. We are 100% committed to inclusion and our policies reflect this commitment to our employees," said Chief HR Officer at Schneider Electric (...)
Some real estate developers came up with an unusual idea to market their projects, especially in the New Administrative Capital, as they would offer guaranteed rental income to unit owners for a specified period after completing the project, even if (...)
Madinet Nasr for Housing and Development (MNHD) has completed the delivery of approximately 832 units during the first half of this year, as part of its plan to complete between 1,500 – 2,000 units by the end of 2022, up from 1,090 units delivered (...)
The price spikes in construction materials in Egypt's real estate market, high rates of inflation, and the interest rates have led real estate developers to increase their units' prices amid expectations that prices will hike by more than 30% by the (...)
The Federation of Egyptian Industries (FEI) affirmed that the current period is in need of new monetary policies that promote industrial investment, as well as new policies needed by the national economy and the Egyptian industry in particular.
The (...)
Former MP Ahmed Saleh was appointed as the new Minister of Industry and Trade — succeeding Nevine Gamea — on Saturday, with many believing that he has his work cut out for him, given that the state's current strategy relies heavily on (...)
Chairperson of Hometown Developments Diaa El-Din Farag has stated that the real estate sector faces some challenges, including increase in prices of building materials, and shortage of some raw materials, due to low production and importation (...)
The 6th Think Commercial roundtable stressed the importance of market controls issued by the Egyptian Cabinet to regulate the sale of real estate units in Egypt.
The roundtable, titled "Egypt's Real Estate Market: Mechanisms to Overcome the Global (...)
Egypt's Financial Regulatory Authority (FRA) held a meeting last week of the Mortgage Finance Advisory Committee to discuss proposals for developing the mortgage finance system, overcoming any obstacles facing it, and increasing mortgage finance (...)
Egypt works hard to fight the current and future inflation, maintain growth, and protect jobs. This is a very difficult formula to keep investments and put inflation under check, which the Central Bank of Egypt (CBE) is currently struggling about. (...)
Several challenges are facing Egypt's real estate sector at the present time in light of economic changes that the whole world is witnessing, and what i reflected in the hikes in prices of building raw materials.
In addition to a number of internal (...)
As the only one of the three Africa largest economies (the others are Nigeria and South Africa) where GDP growth expanded strongly even at the peak of the pandemic downturn (3.3%), Egypt has become the symbol of growth resilience for the continent, (...)
A lack of access to finance is by some margin the main concern of Egyptian businesses, however, 24% of respondents most frequently consider tax rates to be the main obstacle to their companies, according to a report.
The European Investment Bank (...)
The World Bank expects the Egyptian economy to grow by 6.1% in fiscal year (FY) 2021/22, raising its previous forecast in January by 0.6%, according to Global Economic Prospect June 2022.
The report said that Egypt's growth slowed in early 2022 (...)
Egypt's business community received news of President Abdel Fattah Al-Sisi's directives to exclude production requirements and raw materials from documentary credit procedures that were recently applied to import process and return to the (...)
This year's Ramadan witnessed a significant increase in advertising campaigns from real estate developers despite the noticeable decline in property sales caused by the global crisis kickstarted by the Russian-Ukrainian conflict.
In spite of a high (...)
In the Egyptian Family Iftar event that was held on Tuesday, President Abdel Fattah Al-Sisi announced that the government is paying more attention to the country's industry by launching an initiative to support and localise national industries to (...)