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Real estate developer Marseilia Group announced signing an MoU with UAE-based Amlak Finance to develop a project in Nasr City, according to a DFM disclosure. Amlak will provide a 42,676 sqm land plot overlooking Al Ahly Club for the development, which will include residential and administrative buildings, a hotel, and a shopping mall. Marseilia Group […]
Author Archives: enterpriseam admin
Posted inTourism
Tourist arrivals rise 55% y-o-y in first 11 months of 2017
Tourist arrivals increased 55% y-o-y in the first 11 months of 2017, Tourism Promotion Authority (TPA) head Hisham El Demery told the press on Thursday, Al Mal reports. Arab tourists accounted for 30% of Egypt’s tourist arrivals last year, up from 15% the year prior, while Asian tourists doubled to 10%. British tourist arrivals also […]
Posted inTourism
Egypt, Tunisia, Turkey expected to see jump in British tourist arrivals in 2018
Egypt, Tunisia, and Turkey are expected to see a jump in British tourist arrivals this year, after several years of political unrest and security concerns, ABTA says in its annual report (pdf) on travel trends. The report notes that tour operators in the UK have maneuvered around the flight ban imposed on Sharm El Sheikh […]
Posted inTourism
Demand for Egypt to grow in 2018, cruise operator expects
Cruise and tour operator Scenic expects demand for Egypt to grow “even more” in 2018, according to TTG. The company says Egypt accounted for 60% of its program’s bookings in 2017. “With a new brochure… we would expect even more interest in Egypt in 2018,” Scenic’s Head of UK Sales Angela Sloan says. “There is […]
Posted inTourism
TPA disburses charter flights incentive program payments until April 2017
The Tourism Promotion Agency (TPA) has disbursed payments to 34 foreign charter airlines under the incentives program through to April 2017, TPA Vice President Ahmed Hamdy announced on Thursday, Al Borsa reports. The TPA will also disburse payments owed for June 2017 within days, Al Shorouk says. The authority had disbursed the first tranche of […]
Posted inAutomotive + Transportation
Transport Minister meets with French Development Agency to discuss projects
Transport Minister Hisham Arafat met with a delegation from the French Development Agency to discuss furthering their role in the Cairo Metro and Alexandria tram development projects, according to Al Mal. The agency is already signed on to finance EUR 300 mn in Cairo Metro Line 3 development and EUR 100 mn in the Alexandria […]
Posted inBanking + Finance
EGPC subsidiaries seeking EGP 10 bn loan
Misr Petroleum Company and Co-operation Petroleum Company are in talks with a local banking consortium to secure a EGP 10 bn loan, undisclosed sources told Al Mal. The two companies, both subsidiaries of the Egyptian General Petroleum Company (EGPC), are hoping to double an old loan of the same amount from the National Bank of […]
Posted inEgypt Politics + Economics
75 ordered detained on charges including human trafficking
Prosecutors ordered the detention of 75 on a host of charges including human trafficking, the NYT reports citing a statement from MENA. The statement, published on Thursday, claims those involved were government officials who now face corruption charges alongside Egyptian and foreign individuals. Reuters also carried the piece.
Posted inNational Security
Detainee allegedly killed in police custody, causing dozens to attack police station
The Prosecutor General has ordered an investigation into the death of 22-year-old detainee Mohamed Afroto, who was allegedly killed in police custody on Friday, Al Masry Al Youm reports. Police sources denied being responsible for Afroto’s death, which caused “dozens” to attack the police station where he was being held for charges in a drug […]
Posted inNational Security
Four dead in roadside attack in El Arish
Three policemen and a civilian were killed in a roadside ambush in El Arish, anonymous security officials told the AP on Thursday. The militants responsible for the attack reportedly fled the scene.