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Healthcare provider Andalusia Group is planning to establish a new medical facility in New Alamein, and will purchase land from the New Urban Communities Authority (NUCA) soon. The company is required to submit a feasibility study to NUCA within two months of NUCA determining the value of the land plot allocated for the project. No […]
Author Archives: enterpriseam admin
Posted inReal Estate + Housing
Mariout Hills Development to invest EGP 8 bn in New Alamein developments
Real estate company Mariout Hills plans to invest EGP 8 bn in developing projects in a New Alamein, Chairman and founder Ahmed Hassan said, according to Al Shorouk. The company is also in talks to acquire 100 feddans in New Mansoura as part of its plan to develop projects in five new cities across Egypt, […]
Posted inReal Estate + Housing
First phase of New Mansoura to attract EGP 45 bn in investments
The first phase of the New Mansoura project is expected to draw in EGP 45 bn of investments, New Mansoura Authority Deputy Chairman Yasser Kahla said. Arab Contractors will carry out EGP 10 bn worth of infrastructure developments in the coastal city, which will take around three years to complete.
Posted inTourism
Lufthansa flights return to Hurghada; TUI and FlyNas to launch new Egypt flights
The first Lufthansa flight to Hurghada since 2015 landed at the Red Sea town on Thursday with 200 tourists from Munich on board, reports Egypt Independent. The German national carrier also launched another weekly direct route to Marsa Alam on Friday. This comes as UK-based travel firm TUI is planning new charter flights to Marsa […]
Posted inAutomotive + Transportation
Lack of appetite pushes monorail tender deadline
Contractors’ lack of interest in bidding on the new capital-6 October monorail has led the government to push the deadline for submitting offers to November, sources tell Al Mal. This is the second time since September that the committee has postponed the deadline for the tender. The winning bid was supposed to have been announced […]
Posted inAutomotive + Transportation
Transport Minister meets with AfDB to discuss funding for transport projects
Transport Minister Hisham Arafat met with the African Development Bank’s country manager for Egypt, Malinne Blomberg, on Thursday to discuss additional funding packages for Egypt’s transport projects, Al Mal reports. Among the projects discussed: Developing railway train tracking and control and train-to-train communication networks from Luxor to Aswan, as well as upgrading the maritime transport […]
Posted inBanking + Finance
State banks are considering issuing letters of guarantee for Dabaa nuclear project
The Nuclear Power Plant Authority (NPPA) is negotiating with local banks for letters of guarantee worth USD 300-400 mn to cover its loans for the Dabaa nuclear project, unidentified sources tell Al Shorouk. Banque Misr and the National Bank of Egypt had agreed last December to provide USD 580 mn in trade finance facilities to […]
Posted inOther Business News of Note
NUCA rescinds decision to seize land from 21 “distressed” factories
The New Urban Communities Authority (NUCA) has rescinded a decision to seize land from 21 investors from the New Cairo 1,000 factories project, NUCA’s deputy head of real estate and commercial affairs Tarek El Sebaie said. The investors have been granted a final three-month ultimatum to begin construction. The Industrial Development Authority has previously issued […]
Posted inEgypt Politics + Economics
Lebanon exempts Egypt from aluminum import tariffs
Lebanon has exempted Egypt from recent tariffs it imposed on Egyptian, Emirati, Saudi, and Chinese aluminum imports, according to a Trade and Industry Ministry statement.
Posted inNational Security
Russian-made fighter plane crashes during training in Egypt
A Russian-made MiG-29 fighter plane crashed during a training flight in Egypt due to a technical malfunction in the aircraft's control tools, Egyptian army spokesman Tamer El Rifai said in a statement. Technical experts from Russian aerospace and defense company United Aircraft Corporation will help carry out investigations, according toRussian newspaper Kommersant. Sputnik and Reuters […]