REAL ESTATE-

Sky AD has a Ras El Hekma project in the works: Emirati real estate developer SkyAbuDhabi (Sky AD) will develop a 430-feddan plot in Ras El Hekma that will feature a fully integrated residential and tourism project, the company said in a statement (pdf). The developer is targeting EGP 240 bn in sales from the project.

REMEMBER- Last July, the real estate developer said that it was in talks with the Madboulygovernment over a 200-600 acres plot in the North Coast.

EXPANSION-

#1- Giza Systems eyes GCC expansion: Giza Systems is planning to expand into Oman, Bahrain, and the UAE by forging local and global partnerships, according to a statement (pdf) from the company. The company is also planning to expand in high-growth sectors, including fintech, smart cities, AI-powered video analytics, cloud services, and cybersecurity.

ICYMI- The tech consultancy firm launched to launch a global delivery center in Egyptyesterday that will begin operating with several hundred employees, before scaling up its operations and employee headcount.

#2- Premium Healthcare subsidiary Saudi Egyptian Company for Medical Laboratories readies diagnostic radiology investment: Saudi firm Saudi Egyptian Company for Medical Laboratories — which Premium Healthcare owns 50% of — plans to invest SAR 40 mn this year as part of its expansion into diagnostic radiology, according to an EGX disclosure (pdf).

ICYMI- Premium Healthcare acquired a 50% stake in Saudi Egyptian Company for Medical Laboratories in a EGP 1.3 mn transaction last year.

DIPLOMACY-

Egypt, US discuss Gaza ceasefire talks: Foreign Minister Badr Abdelatty received a call from US top Middle East envoy Steve Witkoff to discuss ongoing coordination on Gaza and broader regional developments, according to a Foreign Ministry statement. Talks focused on joint Egypt-US-Qatar efforts to broker a ceasefire in Gaza that would include a hostage and prisoner swap and the full entry of humanitarian aid. Abdelatty reiterated the urgency of ending the war and easing Palestinian suffering, while also calling for a permanent resolution to the Israeli-Palestinian conflict.

The call also touched on US-Iran nuclear talks, with Abdelatty voicing Cairo’s support for efforts to deescalate tensions and avoid regional instability.

DEBT-

EBRD mulls loan for wind power project: The European Bank for Reconstruction and Development (EBRD) is looking into extending an undisclosed loan to support the construction and operation of a 200 MW wind power project in Egypt, according to the project summary on the multilateral lender’s website. The project will supply electricity to a green ammonia facility that includes a 100 MW electrolyser, as well as a 70 MW solar plant.

What green ammonia facility? The renewable project will power Scatec ASA’s Egypt GreenHydrogen project, which is being set up in partnership with Fertiglobe, Orascom Construction, the Sovereign Fund of Egypt, and the Egyptian Electricity Transmission Company.

AUTOMOTIVE-

Jinbei Royal to invest EGP 150 mn in local microbus assembly plant: The country’s exclusive agent for China’s Jinbei, Jinbei Royal Egypt, is planning to invest EGP 150 mn to build an assembly plant for Jinbei-branded microbuses in 2026, Chairman Khaled Saad told Al Borsa. The company will begin local assembly in 4Q 2025 at a temporary facility in Sixth of October City until the new plant is completed.

The details: The company will initially operate a single production line with a capacity of 3k cargo and passenger microbuses, with plans to increase output to 10k units within three years by adding two to three more production lines.

RETAIL-

Abu Auf taps into on-the-go snacking: Homegrown snackmaker AbU Auf launched a new quick-service retail concept called To Go as part of its domestic expansion strategy, according to a statement. The new format is designed to cater to fast-moving consumers with a selection of AbU Auf’s coffee and sweet and savory snacks, targeting students, gym-goers, office workers, and anyone on the move. The company plans to open 20 To Go outlets in 2025 and add another 50 branches in 2026.

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