MANUFACTURING-

#1- Gov’t greenlights Alstom’s Borg El Arab railway manufacturing complex freezone plans: The ministerial group for industrial development approved French rolling stock company Alstom’s EUR 80 mn railway manufacturing complex to be established as part of a freezone project in Alexandria’s Borg El Arab, according to a cabinet statement. The under construction project will include two factories to manufacture components for Cairo Metro Line 6 and cables.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

#2- An Egyptian-Turkish consortium is looking to build a USD 10 mn sanitary ware factory, with a focus on water meters and valves. The project will be set up by local custom steel and metals distributor Egyptian Trading and Agencies and Turkey’s Klepsan, with each holding a 50% stake, Al Borsa reports. The consortium has applied for a land plot in either Tenth of Ramadan or 6th of October.

REAL ESTATE-

#1- Fresh details about the luxury Autograph Collection Hotel taking over Mogamma: The hotel will combine “the high-level fits and finishes of a true luxury hotel” with the contemporary design-forward elements of a boutique stay,” Oxford Capital Group — one of the leaders behind the development — Founder, Chairman, and CEO John Rutledge told Cairo Weekend’s Zeina Soufan (watch, runtime 8:26). The project will feature one of the largest rooftops in Egypt, multiple food and beverages outlets, event spaces, and “an iconic rooftop pool,” he said.

REMEMBER- Cairo House Egypt inked an agreement with Tourism Investment and Marriott International to turn the Mogamma building into an Autograph Collection Hotel last month. The development will be led by an international consortium including Global Ventures Group, US-based real estate investment, development and management firm Oxford Capital Group, Emirati investment firm Al Otaiba Investments, and Zoser Capital Partners.

#2- Al Ismaelia’s Downtown development draws serious investor appetite ahead of roadshow: Downtown Cairo-focused Al Ismaelia for Real Estate Investment will kick off roadshow in May to raise capital, Chairman Karim Shafei told Cairo Weekend’s Zeina Soufan (watch, runtime: 10:43). The developer is already “close to securing the first USD 50 mn” thanks to offers from local and foreign investors over the past 6-7 months, Shafei said. He added that demand for investment in Downtown — either through the company or directly — has surged as hotels, restaurants, and retail spaces have opened over the past 18-24 months.

Remember: Earlier this month, Shafei said that the company is looking to boost its EGP 385 mn capital by USD 50-100 mn through a regional funding round in 2H 2025.

ENERGY-

Shell-Petronas-EGPC JV eyes 44.1% increase in gas production: Rashid Petroleum Company (Rashpetco) — a joint venture between the Egyptian General Petroleum Corporation, Shell, and Petronas — is planning to increase gas production by 44.1% y-o-y to 320 mn cubic feet per day during the current fiscal year, according to a statement from the Oil Ministry. The plan will see Rashpetco kick off production at new wells in its West Delta Deep Marine concession and optimize production at existing wells.

BANKING-

Egyptian Arab Land Bank eyes Jordan exit: The state-owned Egyptian Arab Land Bank is looking to sell all 16 of its branches in Jordan, with the bank already having received initial offers from five banks operating in the Jordanian market, an unnamed source told Asharq Business. The decision to exit the market is down to regulatory reasons, with the bank needing to increase its capital by JOD 20 mn to JOD 70 mn to meet the Central Bank of Jordan’s capital requirements, the source explained.

Tags: