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El Mostakbal for Urban Development has signed an EGP 11 bn agreement with Misr Italia to develop a 268-feddan mixed-use project in Mostakbal City, Amwal Al Ghad reports. The new development is expected to include retail, commercial space, office parks, sports facilities and residential parts.
Author Archives: enterpriseam admin
Posted inTourism
Egypt’s tourism sector to contribute 15% of GDP
Tourism revenues are expected to contribute 15% of Egypt’s total GDP this year if tourist arrivals continue rising at their current pace, Tourism Minister Rania Al Mashat said, according to Reuters. Total tourist arrivals could surpass 10 mn for the first time in six years, the minister said. Al Mashat’s projections are based on estimates, […]
Posted inTourism
Tourism Ministry disburses all overdue payments for charter flights incentive program
The Tourism Ministry has disbursed all overdue payments owed for enrolled foreign charter airlines under the first phase of the incentives program, which expired last month, Tourism Minister Rania Al Mashat said, according to Al Mal. The authority had disbursed payments covering until April 2017 last January. The second phase of the ministry’s incentive program, […]
Posted inTourism
Abercrombie & Kent considering expanding floating hotels in Egypt
Luxury tour operator Abercrombie & Kent is considering increasing its floating hotels in Egypt on the back of high demand on trips to Cairo, Luxor, and Aswan, an official from the operator told Tourism Minister Rania Al Mashat yesterday, El Watan reports.
Posted inTourism
Cairo Int’l Airport to upgrade Terminal 3 security for EGP 500 mn
The Egyptian Holding Company for Airports and Air Navigation has allocated EGP 500 mn to upgrade security checks at Cairo International Airport’s Terminal 3, a source told Al Mal. The timeline for the upgrades is unknown.
Posted inTourism
Thomas Cook introduces stricter hygiene checks on hotels
British holiday company Thomas Cook announced in a statement that it will begin conducting independent hygiene check at the hotels it offers to customers, following the death of two British tourists at the Hurghada Steigenberger Aqua Magic Hotel last August after contracting e-coli. Thomas Cook’s new hygiene checks will look at food safety, hygiene and […]
Posted inTourism
Egypt’s skyrocketing tourism bookings help drive tourism growth in Africa
Egypt’s 134% increase in guest bookings over 2017-2018 is helping to drive the growth of tourism in Africa, Euromonitor International said in itsreport on travel megatrends (paywall) on Tuesday. Egypt’s 8 mn tourist arrivals from last year still pale in comparison to the 14 mn recorded in 2010, the Associated Press reminds us. Other African tourism […]
Posted inOther Business News of Note
ECDC to allocate 35k feddans for olive, date production to foreign investors
The state’s Egyptian Countryside Development Company (ECDC) is expected to sign agreements with foreign investors to allocate 35k feddans of land for olive and date production and olive oil extraction, Chairman and Managing Director Atter Hannoura announced. The projects are part of the ECDC’s work on the Sisi administration’s initiative to reclaim 1.5 mn feddans […]
Posted inEgypt Politics + Economics
MPs widely disagree with niqab ban in public sector workplace
The recent proposal by Rep. Ghada Agamy to ban the niqab in the public sector workplace was met with wide disagreement, Rep. Mohamed Abu Hamed said, according to Egypt Independent. Many MPs said they believe the ban to be in violation of personal freedom and rights, and could lead to further division in Egyptian society. […]
Posted inNational Security
Egyptian, French navies take part in joint military exercises
Egyptian and French naval forces took part in joint military drills focusing on security of offshore natural gas platforms off the Eastern Mediterranean coast, according to an Armed Forces statement. This comes as Turkey has been throwing its weight around and throwing tantrums of over the new energy cooperation order in the EastMEd.