The Tahya Misr Fund is planning to partner with The Marq to revive a North Coast project that’s been stalled since 2016

The Tahya Misr Fund plans to partner with private developer The Marq Communities to revive a stalled 900-feddan North Coast development targeting over EGP 150 bn in revenues, Asharq Business reports, citing people it says are familiar with the matter. The project site, valued at c. EGP 6 bn, has reportedly been tangled in delivery delays dating back to 2016. The exact North Coast development was not identified.

REMEMBER- The move comes as the government pushes to resolve stalled projects. President Abdel Fattah El Sisi directed the formation of a committee in August to inspect delayed real estate projects nationwide and protect buyer rights as developers grapple with cost inflation and extended payment terms.

Also from the North Coast: Tatweer Misr has partnered with Nations of Sky to develop a 400-feddan integrated coastal project, according to a company statement. The project marks Tatweer Misr’s fourth development in the area, following Fouka Bay, D-Bay, and Salt. Tatweer Misr will manage master planning, construction, and operations, although financial terms and projected investment outlays were not disclosed.

Topping up

State-owned Egyptian General Petroleum Corporation (EGPC) bought six cargoes of high-sulfur fuel oil, each 90-100k tons, for delivery in November and December through a recent tender, Reuters reports, citing industry traders. Fuel imports have been trending higher since April and held above 640k tons in October, roughly flat in September, according to Kpler data cited by the newswire. On a YTD basis, January-October imports are still down at 3.94 mn tons from 5.95 mn tons a year earlier.

IN CONTEXT- Fuel oil purchases have picked up as the Iran war tightened global LNG markets, with the government lining up fuel oil as backup for power plants this year. A single LNG cargo has reached about USD 80 mn after the war, roughly double pre-crisis levels. The Petroleum Ministry budgeted about USD 10.1 bn for LNG in FY 2026/27 and had already spent USD 5.8 bn by early October, putting it on track to overrun before the usual spring-summer demand peak, an analyst told the newswire. With LNG cargoes set to rise to 184 this year from 152, the ministry is also in talks with Shell, TotalEnergies, BP, and Hartree Partners on multiyear supply, the newswire reported in July.

Trading by code

EFG Holding’s EFG Hermes launched Younit yesterday, Egypt’s first platform to offer algorithmic trading services to retail investors through application programming interfaces (APIs), EFG Hermes said in a statement (pdf). Ahmed Waly, group head of securities brokerage at EFG Hermes, said at a press event EnterpriseAM attended that the platform operates as integrated, open infrastructure built alongside the EFG Hermes ONE app, giving traders, developers, and students the ability to automate trading strategies, build financial applications, and test their ideas in practice using historical market data before executing them.