REAL ESTATE-

EONS Developments is preparing to roll out its first project in Egypt with initial investments of over EGP 10 bn, utilizing its 35 years in the Swedish market, the developer said in a statement. The New Cairo development will feature modern design, sustainability measures, and smart-community components, and will involve partnerships aimed at delivering integrated urban developments in Egypt, according to the statement.

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What they said: “We consider Egypt a strategic market with significant growth opportunities, and it is well positioned to become one of the largest real estate markets regionally and globally. Through our projects, we aim to introduce an integrated urban concept that combines luxury, innovation, and sustainability, fulfilling our clients’ aspirations while delivering true investment value,” said CEO Sherif Taha.

INFRASTRUCTURE-

Is a fifth phase of the LRT on the horizon? The Transport Ministry and China’s AVIC International discussed the possibility of setting up a fifth phase to the light rail transit (LRT), which would run from Rehab to the new capital. This came during a meeting between Transport Minister Kamel El Wazir and AVIC representatives, which also touched on civil work on the third phase, which is expected to be completed by the end of this year, and installations on the fourth phase, which will begin this month.

BANKING-

The Central Bank of Egypt issued new regulations permitting banks to establish service units outside traditional branches to expand access to banking services nationwide, according to a statement (pdf). The new units — which can be mobile, fixed, or temporary — will handle services such as account openings, loans, card issuance, transfers, ATM withdrawals and deposits, and financial consultations, in addition to receiving customer complaints. They are designed to make banking more accessible to individuals and micro, small, and medium-sized enterprises across all governorates.

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