MANUFACTURING-

T&C looks to invest up to USD 35 mn in Egypt over the next two years: Turkish-Egyptian clothing manufacturing partnership T&C Garments is looking to increase its production capacity by 30% by 2026, with plans of investing USD 30-35 mn in the next two years, Chairman Magdy Tolba told Al Arabiya Business. The investments will go towards adding new production lines, as well as replacing and restoring older machines, Tolba said.

REAL ESTATE-

#1- Madinet Masr launches new development in Mostakbal City: Real estate developer Madinet Masr has inaugurated a new project in East Cairo’s Mostakbal City — dubbed The Butterfly — through its subsidiary Minka, the company said in a press release (pdf). The project will be built on an area of 187 acres, targeting sales of some EGP 64 bn, the company said.

#2- Offers roll in for the Urban Development Fund’s Kafr El Sheikh and El Mahalla El Kubra plots: The government’s Urban Development Fund has received eight offers from consortiums and partnerships of Egyptian and foreign companies to develop plots in Kafr El Sheikh and El Mahalla El Kubra, with total investments of some EGP 55 bn, Al Borsa reports, citing fund head Khaled Seddik.

The details: The 185-acre Kafr El Sheikh project will include a medical, commercial, administrative, and educational facilities alongside a hotel and sports club, with investments reaching EGP 50 bn, while the 47-acre El Mahalla El Kubra project will also be an integrated urban urban development with EGP 5 bn in initial investments.

ICYMI: We’ve already heard rumblings of private investor interest in the Kafr El Sheikh development, with a consortium of local, Gulf, and Chinese companies reportedly in talks with the fund about investing in the project last year.

WASTE MANAGEMENT-

Egypt launches first construction and demolition waste recycling project: Local waste treatment firm ZeroCarbon has partnered with the New Urban Communities Authority (NUCA) to launch the country’s first construction and demolition waste recycling project, the company said in a statement. The project will begin with the Beit Al Watan service area in New Cairo, processing 3.3 mn cbm of waste to transform materials like concrete, wood, and metals into green aggregates.

ALSO- ZeroCarbon awarded solid waste management contract in Gharbia: The government also awarded ZeroCarbon a contract for the the management and operation of a solid waste recycling and treatment plant in Egypt’s Difrah village in the Gharbia Governorate, with the capacity to treat 120 tons of solid municipal waste per day, according to a Local Development Ministry statement.

EXPANSION-

ERG Developments in talks to establish Riyadh project: Local real estate developer ERG Developments is holding negotiations with Saudi Arabia’s National Housing Company to acquire a 150k sqm plot in Riyadh, as it looks to establish one of the largest real estate developments in the Saudi capital, ERG Developments CEO Mohamed Rezk told Al Borsa. The company that Rezk aims to establish in the kingdom will function as the foundation of ERG’s presence in foreign markets, Rezk added.

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