LEISURE-

Hill International has been tapped to manage Giza Zoo development: Hadayieq, the firm leading the Giza Zoo revamp, has reportedly tapped US-based construction consultant Hill International to manage the development of the Giza Zoo and the nearby Orman botanical garden, Shorouk News reports, citing what it says are sources in the know. The consortium responsible for the revamp has so far secured EGP 800 mn for the EGP 1.4 bn project, which will transform the dated zone into an open-range, no-cage touristic attraction.

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Want the details? We had spoken to Hadayieq Chairman Mohamed Kamel to learn more about the overhaul and the timeline for its completion in a HardHat published late last year.

PRIVATIZATION-

Misr Aswan Fishing gears up for privatization: Some 14 public and private companies, including National Bank of Egypt and Arab Contractors, have reportedly authorized the Sovereign Fund of Egypt (SFE) to sell their stakes in Misr Aswan Fishing to a strategic investor, Shorouk News reports, citing what it says are sources with knowledge of the matter. The SFE will likely target a local buyer.

FINTECH-

Beltone Leasing joins FCI: Beltone Holding subsidiary Beltone Leasing and Factoring has joined the Global Representative Body for Factoring and Financing of Open Account Domestic and International Trade Receivables FCI, according to a company press statement (pdf). Connecting over 400 global members from 90 countries, the FCI facilitates cross-border cooperation. Beltone’s FCI membership will help it access tech platforms that will enhance its presence in international trade and supply chains.

What they said: “[The membership] strengthens our international expansion strategy by leveraging global expertise and the extensive network provided by the organization. Furthermore, the organization’s statistics and market studies will provide us with deeper insights into industry trends and challenges, supporting our strategic plans to deliver superior financial solutions to our clients,” Deputy Head of NBFIs for Leasing, Factoring, and Consumer Finance Amir Ghannam said.

REAL ESTATE-

Al Qalaa to redevelop Granada complex: Real estate developer Heliopolis Housing and Development (HHD) has chosen Al Qalaa for Asset Management to redevelop the historic Granada building in Heliopolis, according to an EGX disclosure (pdf). HHD will be entitled to 30% of the project’s revenues in its first year and 40% of revenues in its second year. Al Qalaa’s offer “preserves the heritage and historical value of the Granada Complex.”

Remember: The building was reopened following a EGP 47 mn redevelopment project in the works since 2017. Al Qalaa can redevelop the building into areas suitable for cultural and tourism activities, exhibitions, and parties, as well as a high-level restaurant.

RECYCLING-

The country’s first cardboard recycling plant: Global packaging solutions giant Tetra Pak and local cardboard manufacturer Uniboard have inaugurated a EUR 2.5 mn cardboard recycling plant — Egypt’s first — in Sadat City, according to an Environment Ministry statement. The plant should reach its maximum annual capacity of 8k tons of cardboard within five years.

M&A-

The details of CI Capital’s exit from Taaleem: CI Capital earlier this week exited its strategic stake in higher education outfit Taaleem after a five-year investment period, achieving 4.5x return on equity and an internal rate of return of 50%, according to a company statement (pdf). CI Capital sold its stake in Taaleem in a EGP 956.6 mn transaction, according to EnterpriseAM calculations.

REFRESHER- Palm Hills Development and El Tarek Automotive bought up CI Capital’s entire13.1% stake in Taaleem, raising their ownership in the firm to 32.6% and 14% respectively.

INVESTMENT-

Local real estate developer Al Ashraaf Developments is looking to invest EGP 1.25 bn to set up 10 new gas stations, CEO Ahmed Massoud said during a presser. The company has already built six stations worth some EGP 700 mn, with plans to set up four more in 1Q 2025 in Sheikh Zayed and New Obour cities.

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