Good afternoon, friends. We’ve got another brisk issue for you today as the news cycle continues to cool down — though the weather is a different story.

THE BIG STORY TODAY

Industrial real estate developer Polaris Parks is set to build an EGP 2.5 bn industrial zone in Sadat City, General Manager Bassel Shoriah told EnterpriseAM. The General Authority for Industrial Development has allocated a 1.1 mn sqm site for the project, which will house mixed-use facilities, from engineering and food industries to warehousing and medical projects, Shoriah told us.

The zone is expected to draw some USD 1 bn in investments and will be developed over three years.

** We’ll have the full story in tomorrow’s edition of EnterpriseAM Egypt.

THE BIG STORY ABROAD

BTC broke past USD 120k today for the first time as investors wagered on favorable US crypto regulations and support from US President Donald Trump — who has taken to referring to himself as the “crypto president.” Lawmakers are set to debate a slate of crypto bills this week, including one that would set rules for stablecoins, further pushing investors to view crypto as a long-term and mainstream asset.

The digital token rose as high as USD 123.1k during trading, before settling to a USD 121.8k at the time of writing. BTC is up 30.0% YTD and a whole 87.8% over the last 12 months.

The broader crypto market is following suit, with Ether reaching a five-month high and tokens like Solana and XRP seeing gains, pushing the total market value of crypto assets to USD 3.8 tn. Crypto stocks and ETFs are also climbing, with bitcoin miners and exchanges seeing early trading bumps in the US and Hong Kong. (Reuters | Bloomberg)

☀️ TOMORROW’S WEATHER- The sunny streak continues in the capital with temperatures peaking at 36°C, before cooling down to 22°C at night. The North Coast is in for cooler weather, with a high of 28°C and a low of 25°C, according to our favorite weather app.

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