REAL ESTATE-

The Sovereign Fund of Egypt completed its financial valuation of Downtown Cairo real estate assets, including the buildings of ministries and government entities, Al Borsa reports, citing unnamed senior government sources. It also covers the assets of ins. companies in Cairo and other governorates that are owned by Misr Real Estate Assets Management, a subsidiary of Misr Ins. Holding. The move comes ahead of the government’s plan to offer the Ministries Square area and Downtown assets to investors.

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The valuation priced residential units at EGP 20-28k per sqm and administrative units at around 30% higher, the sources said. Meanwhile, commercial properties ranged between EGP 80-120k per sqm, excluding land value. The source highlighted that market values vary depending on location and use, with the area’s “character and investment potential” being key factors in setting value. The government seeks to maximize returns from vacated units in Downtown Cairo, all while preserving historical aspects of the buildings, the source said.

AUTOMOTIVE-

Kia distributor mulls local assembly in 2026: Egyptian International Trading and Agencies (EIT), the local distributor of Kia and a subsidiary of Egyptian International Motors, is looking into the local assembly of two Kia models — an SUV and a sedan — in the second half of 2026, COO Ahmed El Khadem told Al Borsa. The company is still assessing production timelines and capacity. EIT is also planning to launch five new electric Kia models and one new gasoline model before year-end.

LOGISTICS-

The Transport Ministry has scrapped the tender for the Shaq El Tebaan dry port and logistics center, after none of the three bidders met technical requirements, sources told Al Borsa. The General Authority for Land and Dry Ports will instead relaunch the project through a closed-envelope auction, with technical bids due next January and financial offers the month after. The authority has also lowered the initial deposit to EGP 10 mn from USD 1 mn to ease participation.

REMEMBER- The authority launched the tender last year for companies to manage and operate the port located in the largest marble and granite industrial cluster in the country. The port will be used as the base for marble exports and is expected to bring in some USD 100 mn in investments.

INFRASTRUCTURE-

Egypt and Jordan began establishing the 15 km high-capacity Coral Bridge subsea cable linking Sinai’s Taba to the Jordanian coastal city of Aqaba, according to a statement from the CIT Ministry. The cable — which Telecom Egypt and Jordanian telecom service provider NaiTel inked an agreement for in January 2024 — was launched in Taba and will reach Aqaba in the coming days.

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