Major banks support financing for Robbiki Leather City factories
Cairo for Investment and Real Estate Developments (CIRA) has announced an exclusive opportunity to acquire 43 fully equipped factories for leather production in the third phase of Robbiki Leather City. This offering marks a significant milestone in advancing Egypt’s leather
Deputy PM urges Canadian companies to invest in Egypt, offering support for industrial development
Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, met with Ulric Shannon, the Canadian Ambassador to Cairo, to discuss strengthening cooperation in the fields of industry and transport. Al-Wazir underscored his commitment to advancing
Egyptian banking alliance grants EGP 4.235bn to Al-Zahi Group for development projects
Three leading Egyptian banks—the National Bank of Egypt (NBE), Banque Misr, and QNB AlAhli—have extended joint financing worth EGP 4.235bn to Al-Zahi Group. This financing aims to support key development projects, with NBE serving as the lead arranger, financing marketer,
Egyptian business delegation to visit Morocco to strengthen investment, trade ties
The Egyptian-Moroccan Joint Business Council, led by Nezar Abou-Ismail, convened its inaugural meeting to discuss strategies for enhancing communication and collaboration between the two countries, with a focus on boosting investments and trade. Abou-Ismail highlighted the council’s discussions on overcoming
Egypt’s ready-made garment exports jump 17% to $2.27bn in 10M 2024
Exports of Egyptian ready-made garments surged to $2.27bn from January to October 2024, a 17% increase compared to $1.94bn during the same period in 2023, according to Fadil Marzouk, Chairperson of the Apparel Export Council of Egypt. Marzouk attributed this
Madinet Masr unveils SAFE for fractional ownership, offering secure, seamless investment returns
Egypt’s real estate developer Madinet Masr has launched SAFE, an innovative application developed by Madinet Masr Innovation Labs. This app is set to revolutionize real estate investment by introducing a transformative approach to fractional ownership, enabling multiple stakeholders to own
Egyptian Society of Real-Estate Appraisers to Hold International Conference in Cairo
The Egyptian Society of Real-Estate Appraisers (ESREA) will hold its second international conference on 18 January 2025, at the Semiramis Intercontinental Hotel in Cairo. The conference, titled “The Real Estate Appraisal Industry and its Role in Supporting the National Economy,”
TMG sales exceed $10bn in 2024 solidifying regional real estate leadership
Talaat Moustafa Holding Group (TMG) has reported record sales for 2024, exceeding EGP 0.5trn, or approximately $10bn, by December 22. This figure marks a significant milestone for the company, solidifying its position as a leading real estate developer in Egypt
ERC completes debt restructuring, pays $315m to senior, subordinated lenders
The Egyptian Refining Company (ERC) has concluded its Senior and Subordinated Debt Restructuring, marking a significant milestone in its financial strategy. As part of the agreement, ERC made payments totaling $315 million, which included $33.3m in fees and default interest
Unionaire launches largest home appliances factory with EGP 6bn investment
Unionaire Group, a leading home appliances manufacturer, has unveiled plans to launch a state-of-the-art factory with an investment of approximately EGP 6bn, marking a significant expansion in Egypt’s manufacturing sector. The company is positioning the new facility to become the