HOSPITALITY-

IHG Hotels & Resorts signed an agreement with developer Jadeer Group to set up a new hotel with 120 rooms, according to a statement. The Hotel Indigo-branded hotel is scheduled to open as part of Jadeer’s RedG mixed-use project in New Cairo in 2031. IHG currently operates eight hotels in Egypt under the brands InterContinental, Crowne Plaza, Holiday Inn, and Staybridge Suites, in addition to 22 hotels under construction that are set to open in the coming years, according to the statement.

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MANUFACTURING -

#1- CPC Industrial Development Company will build a new 1.2 mn sqm industrial zone in Sadat City, and has already had the land for the project allocated by the Industrial Development Authority, CEO Moataz Baha El Din told Al Arabiya The company will invest EGP 2.5 bn to develop the zone and plan to open it up to investors in the first quarter of next year.

The zone is expected to attract EGP 30 bn in industrial investments over three years, and will include projects in the food, pharma, building materials, and chemical and engineering industries.

#2- LG wants to expand its footprint in Egypt by increasing local production and maintaining competitive pricing, LG Egypt General Manager Billy Kim said yesterday during a presser attended by EnterpriseAM. LG invests annually in new production lines and advanced models to “deliver high-value products at competitive prices,” reinforcing Egypt’s position as a regional manufacturing hub.

DEVELOPMENT FINANCE-

Egypt signed a financing agreement with the Japan International CooperationAgency for the fourth tranche of funding for phase one of Cairo Metro Line 4, which will run 46.5 km across four phases linking 6th of October to New Cairo via central Cairo, according to a Transport Ministry statement. The line is expected to serve 1.5 mn passengers daily once complete, with the first phase covering 19 km and 17 stations.

FINTECH-

MNT-Halan has rolled out what it says is Egypt’s first secured lending product from a non-banking financial institution, letting users instantly borrow against up to 80% of their investments directly through the Halan app, according to a statement seen by EnterpriseAM. The new feature gives customers an instant credit limit of up to EGP 500k on their Halan Card at rates below traditional credit facilities.

AVIATION-

Egypt and Oman signed an MoU to expand cooperation rights for their national carriers, according to a Civil Aviation Ministry statement. The agreement also covers cooperation in civil aviation, including safety, sustainability, and increased air traffic between the two countries.

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