M&A-

Logic Holding nabs majority stake in Dubai’s Nexel: Homegrown management consulting group Logic Holding acquired a majority stake in Dubai-headquartered consulting firm Nexel Partners for an undisclosed sum, according to statement (pdf). While the exact size of Logic’s ownership in Nexel was not disclosed, the acquisition plays right into the company’s growth plans across key markets in the region. Nexel also has offices in Cairo and Riyadh.

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Eyeing Saudi + GCC growth: “Logic will prioritize expanding its Saudi Arabian footprint, capitalizing on the Kingdom’s rapid digitalization, before scaling across the Gulf. This targeted approach ensures the firm meets escalating demand while delivering integrated, future-ready solutions,” the release read.

BANKING-

Changes to the CBE’s mortgage finance initiative: The Central Bank of Egypt has adjusted its mortgage finance initiative for low and middle income groups, its changing income brackets, interest rates, and minimum downpayments, according to a circular from the CBE sent to commercial banks seen by EnterpriseAM.

The details: The low income category, with a monthly net income not exceeding EGP 10-12k for individuals and EGP 13-15k for households, will be able to get their hands on subsidized mortgage financing at a declining 7.5-8% interest rate. The middle income category, with a monthly income not exceeding EGP 20k for individuals and EGP 25k for households, can secure financing at a declining 12% interest rate. The minimum down payment for accessing the financing has been set at 20% for both groups.

LOGISTICS-

When can we expect the Dekheila dry bulk terminal to go online? The local consortium setting up the 300k square meter dry bulk terminal in Dekheila Port is expected to deliver it in 4Q 2025, Al Mal reports citing comments from the director of consortium member Latt Trading Abdelrahman Laheta.

As things stand: The consortium is currently setting up the terminal's EGP 3 bn superstructure.

Remember: A consortium of four local private and state-owned firms — Mediterraneo Egypt, Latt Trading and Shipping, an Elsewedy company, and the Transport Ministry’s Holding Company for Maritime and Land Transport — last September inked an agreement to invest USD 450 mn to build, manage, and operate the terminal.

REAL ESTATE-

M squared launches EGP 6.5 bn project in West Cairo: Intro Holding's real estate arm M squared launched a EGP 6.5 bn residential project in West Cairo — dubbed 31West, according to a press release (pdf). The developer plans to start delivering units in the 31-feddan project in 6th of October within three years. The real estate developer plans to launch two new residential projects this year — it owns plots in New Cairo and the North Coast, company representatives told EnterpriseAM.

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