DEBT-

Five corporate sukuk issuances incoming? Five companies are in talks with the Financial Regulatory Authority (FRA) to move ahead with sukuk issuances worth a combined EGP 10 bn, Sayed Abdel Fadil, head of the FRA’s Central Administration for Finance, told Asharq Business. Among the interested companies are Contact Financial Holding, MNT-Halan’s Tasaheel, GB Capital, and Rawasi Urban Development, a source familiar with the matter told the news outlet.

REAL ESTATE-

Real estate giant Hassan Allam Properties (HAP) has acquired a 279-feddan land plot in Midar’s Mostakbal City, marking HAP’s third partnership with Midar in the eastern Cairo city after Haptown and The Valleys, according to a joint statement (pdf). The project will see a total investment of EGP 35 bn to turn the plot into a mixed-use development, featuring "well-integrated lifestyle" of single and multifamily homes, in addition to commercial spaces.

NBFS-

Contact Financial Holding’s Contact Pay customers will now be able to make use of OPay’s channels — which include over 90k points of sale and payment kiosks — under a cooperation agreement signed between the two, according to a press release (pdf).

COMMODITIES-

Gov’t to pay more for local wheat: The Madbouly government will pay farmers EGP 2k per ardeb of wheat this harvest season — up from last year’s EGP 1.5k price point — after cabinet approved the price tag.

PROCUREMENT-

Mayar Holding to give construction company Total Air a lift: Egypt Gulf Elevators & Escalators — a subsidiary of Saudi Arabia’s Mayar Holding — will supply and install 1.2k elevators for local construction firm Total AirProjects under a EGP 840 mn contract, according to a filing to Tadawul.

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