Bonyan to kick off IPO roadshow after Eid

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WHAT WE’RE TRACKING TODAY

Arab ministers discuss Gaza reconstruction with US envoy

Good morning, all. After the fourth review of our IMF loan program kept us busy for the past few days, the news cycle has slowed down once again. In today’s issue we have news of Arab ministers presenting Gaza’s reconstruction plan to the US special envoy to the Middle East, the state tapping an advisor to manage Chill Out’s stake sale, more on Bonyan’s long-awaited IPO, and Egypt’s request to host some matches during the 2034 World Cup.

So, when do we eat? Maghrib prayers are at 6:02pm in the capital, and you’ll have until 4:40am tomorrow to hydrate and caffeinate ahead of fajr.

PSA-

Fresh housing units will hit the market after Eid: The Madbouly government will unveil 400k housing units for sale after Eid Al Fitr, some will be ready for immediate delivery and others will be delivered in up to two years, Prime Minister Moustafa Madbouly said.

WEATHER- We’re in for a warm sunny day in Cairo, with a high of 31°C and a low of 19°C, according to our favorite weather app.

It’s more or less the same in Alexandria, with a high of 29°C and a low of 17°C.

And over the weekend, expect to see a high of 31°C and a low of 17°C in the capital.

** DID YOU KNOW that we now cover Saudi Arabia and the UAE?

** Were you forwarded this email? Tap or click here to get your own copy delivered every weekday before 7am Cairo time — without charge.

Arab foreign ministers, US special envoy discuss Gaza reconstruction in Doha: Foreign Minister Badr Abdelatty joined his counterparts from Saudi Arabia, Jordan, UAE, and Qatar, and the US Special Envoy to the Middle East Steve Witkoff in Doha to discuss Egypt’s USD 53 bn Gaza reconstruction plan. And while the statement out following the meeting was short on details, it said that the Arab ministers “agreed with the US envoy to continue consultations and coordination on this plan as a basis for the reconstruction efforts in the sector.”

WATCH THIS SPACE-

#1- In line with IMF directives, the government is committed to have energy prices reach cost recovery levels by the end of the year, Prime Minister Moustafa Madbouly said during his weekly presser yesterday (wat ch, r untime:30:2 4).

REMEMBER- Adjusting energy prices is part of the structural reforms mandated by the International Monetary Fund under our USD 8 bn loan program in a bid to “create space for more productive spending.”

#2- Madbouly government has tapped CI Capital to manage Chill Out’s IPO, an unnamed source told Al Borsa. The government is currently working on moving the company’s ownership from the National Service Projects Organization’s (NSPO) National Roads Company subsidiary to the Sovereign Fund of Egypt, once this step is completed the fund will start restructuring the fuel retailed ahead of its planned IPO, the sources said. The exact stake to be offered will be determined after the company completed its third phase of expansion. Additionally, ADSERO (Ragy Soliman and Partners) was appointed legal counsel for the offering.

A long time coming: Then-Planning Minister Hala El Said earmarked Chill Out for a sale back in December 2023. The firm is on the list of state-owned companies destined for stake sales this year.

#3- The country’s four mobile network operators will get the green light to launch 5G services by 2Q 2025, a government source told EnterpriseAM. Operators are conducting final network tests and are expected to announce operation in April, the source added. Residential areas with decent infrastructure will be first in the phased rollout of the service, before the service is expanded to cover more of the country.

REMEMBER- The National Telecom Regulatory Authority last year inked USD 600 mn worth of agreements granting 5G service licenses to Vodafone Egypt, Orange Egypt, e& Egypt, and Telecom Egypt.

DATA POINT-

Cairo is the city of a thousand minarets, 7.2k mn’aires, and 4 bn’aires, according to data from investment migration-focused firm Henley & Partners. The nation’s capital topped the list of the wealthiest cities in Africa by both the number of bn’aires and centimn’aires (30). In terms of the number of mn’aires, Cairo came in third place, behind South Africa’s Johannesburg and Cape Town.

Despite an impressive standing in the tables, the longer-term view isn’t as positive, with the number of mn’aires calling Cairo their home dipping 21% in the ten years between 2013 and 2023.

THE BIG STORY ABROAD-

It seems like we can’t go a single morning without bringing up the Trump tariffs: US President Donald Trump threatened to introduce additional tariffs on EU imports, after the bloc responded to his 25% tariff on steel and aluminum, saying it would increase tariffs on USD 28 bn worth of US goods starting April. “Whatever they charge us with, we're charging them,” Trump said in response to the news. (Reuters | Bloomberg | AP | BBC)

“Tariffs are taxes. They are bad for business and worse for consumers,” EU President Ursula von der Leyen said, adding that “nobody needs that — on both sides, neither in the European Union nor in the United States.”

CLOSER TO HOME- Israel and Lebanon kicked off US-backed talks over their border and the possible withdrawal of Israeli troops. Delegates from the two sides met earlier this week in the presence of US and French mediators (Bloomberg)

Somabay partners with Marriott International to launch an Autograph Collection Hotel, opening in 2027 with 194 sea-view rooms, world-class dining, and wellness facilities. This marks its second collaboration with Marriott after Sheraton Soma Bay (1999). Somabay is home to a collection of renowned hotels, including Kempinski, The Cascades, Robinson Club, and The Breakers, offering a diverse range of luxury, wellness, and lifestyle experiences along the Red Sea.

Bonyan to launch a roadshow for its upcoming EGX IPO after Eid

Bonyan will be on the road after Eid to market its upcoming IPO to local institutional investors, before expanding to Gulf buyers in Saudi Arabia, the UAE and Oman, chairman Shamel Aboul Fadl told Al M al. The Financial Regulatory Authority (FRA) is currently reviewing the offering’s documents, Aboul Fadl told Al Mal.

Remember: We’re expecting the real estate investment firm to make its EGX debut no later than April. The Compass subsidiary in January got the green light from from the EGX’s listing committee to list its shares on the EGX under the ticker symbol BONY.CA ahead of its awaited IPO.

SOUND SMART- Bonyan will be the first real estate operating company (REOC) to hit the EGX. Unlike traditional property developers or real estate investment trusts (REITS), the REOC model involves owning and managing a portfolio of income-generating properties.

The details: The offering will feature a mix of newly issued and secondary shares, with the secondary tranche accounting for the bulk of the offering, CEO Tarek Abdelrahman told EnterpriseAM. Some 90% of the shares offered will be allocated to private placements, with the remaining 10% available through a public offering, he added.

ADVISORS- CI Capital and Arqaam Capital are leading the IPO as coordinators and bookrunners, with Mubasher acting as the offering agent. Legal advisory is being provided by Matouk Bassiouny & Hennawy, while Baker Tilly is the independent financial advisor preparing the fair valuation.

DIVE DEEPER- We have everything you may want to know about the IPO in our coverage of the story earlier this year.

** We spoke to Aboul Fadl for our weekly My Morning Routine column last month. Check out the interview here.

Egyptian football club international transfer spending dips in 2024

Saudi spending on international transfers dwarfed Egypt in 2024, with the Kingdom’s total spending on international transfers leading the region with USD 465 mn, while Egyptian football clubs came in fourth place clocking in just USD 7.4 mn, according to a report (pdf) by Asharq Business. Local spending on international players was down 22.1% y-o-y over the 12-month period.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

International transfer spending fell 45.3% y-o-y across the region, coming in at USD 667.7 mn. The previous notched in USD 1.2 bn in spending, driven by Saudi clubs deploying USD 970 mn for international talent — including Neymar, Mane, and other big names — that pushed up regional spending 19.2x compared to the year before.

Egypt came in second in the region for international transfer revenue in 2024, with proceeds from sales of players to teams outside of Egypt rising 19.4% y-o-y to clock in USD 12.3 mn. The report pointed to exchange rate instability as to why Egyptian clubs were eager to accept offers to sell players overseas.

International transfer revenues were up across the region, clocking in a 40.5% y-o-y increase to USD 71.2 million for the 12-month period. The number of transfers also increased compared to 2023, rising 6.9% to 1.7k. Leading the region in terms of transfer revenue was Saudi Arabia with USD 27.9 mn — a 65.1% y-o-y rise.

EGYPT WANTS TO HOST SOME 2034 WORLD CUP MATCHES-

Egypt wants a piece of the action: Egypt has requested to host some of the group-stage matches for the 2034 World Cup, Egyptian Football Association President Hany Abo Rida said (watch, runtime: 4:49) during an address to the CAF Extraordinary General Assembly yesterday.

REMEMBER- Saudi Arabia was awarded the right to host the 2034 FIFA World Cup last December after its bid went uncontested, receiving strong backing from the Football Association.

CIB CEO Hisham Ezz Al Arab receives Global Finance’s Lifetime Achievement Award

GlobalFinance gave CIB CEO Hisham Ezz Al Arab (LinkedIn) its “highest individual honour,” awarding the head of the country’s largest private sector bank its Lifetime Achievement Award, the New York-based financial magazine said in a statement. “Hisham Ezz Al Arab’s visionary leadership has had a transformational impact on Egypt’s banking sector, and has elevated CIB into a globally recognized institution and the country’s most successful private-sector bank,” said Global Finance Editorial Director Joseph Giarraputo.

Shell plans to invest USD 300 mn into its West Delta Deep Marine concession

ENERGY-

Shell to pour USD 300 mn into Mediterranean concession: UK-based oil and gas giant Shell is investing some USD 300 mn alongside Petronas in its ongoing drilling operations in the West Delta Deep Marine concession as part of its 11th phase, Shell Egypt VP and Country Chair Dalia El Gabry told Al Arabiya. The first of the additional wells are expected to kick off production in 2025, with the news coming days after Shell’s exit from its two Red Sea exploration blocks.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

REMEMBER- Shell started production from one well in the West Delta Deep Marine in October, producing 30-40 mn cubic feet per day (mcf/d). The company noted at the time that it planned to invest some USD 227 mn in starting production from two other wells in the field by the end of 2024, with plans to bring its total production to 160 mcf/d.

More exploration is in the works: Shell is preparing for additional drilling between the Nile Delta and the Herodotus Basin by 2026, El Gabry said, adding that the company has secured the Merneith offshore concession with plans to determine a drilling site by early 2027.

CAPITAL MARKETS-

Ezz Steel will delist from the EGX within a matter of hours, after it had completed a share buyback from minority investors. The stock will move to the over-the-counter (OTC) market at the start of trading today.

The details: The company purchased 163.78 mn shares from shareholders who opposed the voluntary delisting and wished to sell their shares. These shares represent 30.2% of the total issued share capital of the company, and 88% of the total free-floating shares.

LOGISTICS-

MSC to expand its footprint in Egypt: Switzerland-based shipping giant Mediterranean Shipping Company (MSC) inked an MoU with the Egyptian Transport Ministry’s Holding Company for Maritime and Land Transport to boost logistics cooperation, according to a ministry statement. Under the agreement, the two sides will work to identify areas of potential cooperation in the management and operation of seaports, dry ports, railway cargo facilities, and logistics zones. The logistics player had previously expressed interest in funneling more investments into Egypt’s logistics sector.

REMEMBER- The Transport Ministry’s Public Authority for Land and Dry Ports inked a more final agreement with Medlog — the cargo subsidiary of MSC — to develop a dry port and logistics hub in the Tenth of Ramadan City under a public-private partnership in January.

M&A-

Dice drops Twin Top acquisition: Dice Sports and Casual scrapped plans to acquire a controlling stake in Twin Top for Real Estate Investment after failing to agree on a price, it said in an EGX disclosure (pdf). The proposed purchase was initially announced in August of last year.

The upside: The company will instead purchase a 62.9k sqm plot in Helwan from the National Bank of Egypt and Banque Misr for a tally of EGP 167 mn to serve its future expansion plans.

Positive inflation report offers relief to battered US stocks

It’s been a turbulent week for the US economy. Fresh inflation data showed price pressures easing slightly, but fears of escalating trade tensions and a potential recession have rattled Wall Street.

How inflation fared last month: Price pressures eased slightly last month with headline inflation coming in at 2.8%, below economists’ forecasts of 2.9-3%, the Financial Times reports. The consumer price index from the US’ Bureau of Labor Statistics showed core inflation increased 0.2%, less than the 0.3% expected and down from January’s 0.3%, but still sits above the Fed’s targeted 2%. Futures markets are now expecting between two and three interest rate cuts this year from the Fed, according to the salmon colored paper.

Despite cooling inflation, recession risks persist. JP Morgan’s chief economist Bruce Kasman told Reuters there is a 40% chance of a US recession this year, citing economic uncertainty and the potential impact of US President Donald Trump’s import tariffs.

The positive inflation report gave US stocks some respite after the battering they took earlier this week, with most indexes gaining some ground. The S&P 500 ended Wednesday up 0.5% after swinging between a stronger early rally and a midday pullback. Meanwhile, the tech-heavy Nasdaq gained 1.2%.

ICYMI- The S&P 500 briefly entered correction territory on Tuesday, down more than 10% from its recent peak, as investor confidence eroded. It also wiped out USD 4 tn on Monday. The sharp sell-off has been driven largely by a 14% plunge in the “Magnificent 7” tech stocks, according to Goldman Sachs, with their price-to-earnings ratio falling from 30x to 26x.

Still, Wall Street is growing increasingly pessimistic about economic stability, with Goldman Sachs cutting its S&P 500 year-end target to 6.2k from 6.5k, citing slower growth and heightened policy risks, Reuters reports. “There’s a huge reset going on right now and a lot of trepidation in the market,” Dec Mullarkey, managing director at fund manager SLC Management, told the FT.

Hopes for a so-called “Trump put” — the belief that the president would intervene to stabilize markets — are fading. Unlike his first term, when stock sell-offs often led to policy reversals, investors now fear Trump may tolerate market turbulence to push through his economic agenda.

MARKETS THIS MORNING-

Asian markets are mixed, with Japan’s Nikkei and Topix, as well as South Korea’s Kospi, all up in early trade, while China’s CSI 300 and Hong Kong’s Hang Seng down marginally. Over on Wall Street, futures indicate a strong open to continue yesterday’s rally.

EGX30	31,049	+0.4% (YTD: +4.4%)
USD (CBE)	Buy 50.62	Sell 50.76
USD (CIB)	Buy 50.62	Sell 50.72
Interest rates (CBE)	27.25% deposit	28.25% lending
Tadawul	11,705	-0.1% (YTD: -2.8%)
ADX	9,416	+0.4% (YTD: 0.0%)
DFM	5,157	+0.7% (YTD: 0.0%)
S&P 500	5,599	+0.5% (YTD: -4.8%)
FTSE 100	8,541	+0.5% (YTD: +4.5%)
Euro Stoxx 50	5,359	+0.9% (YTD: +9.5%)
Brent crude	USD 70.95	+2.0%
Natural gas (Nymex)	USD 4.01	-1.7%
Gold	USD 2,945	-0.1%
BTC	USD 83,800	+1.1% (YTD: -10.6%)

THE CLOSING BELL-

The EGX30 rose 0.4% at yesterday’s close on turnover of EGP 3.9 bn (11.1% above the 90-day average). Regional investors were the sole net buyers. The index is up 4.4% YTD.

In the green: GB Corp (+8.8%), Orascom Development (+6.1%), and Rameda Pharma (+5.2%).

In the red: E-finance (-2.2%), Madinet Masr (-1.9%), and AMOC (-1.1%).

My Ramadan Routine: Amr Badreldin, CEO of Arkan Palm

Amr Badreldin, CEO of Arkan Palm: For a special Ramadan edition of our weekly My Morning Routine column that we are running through the holy month, we spoke to Amr Badreldin, CEO of Arkan Palm. We asked Badreldin the usual questions to find out how a successful member of the community starts their day and threw in a few more to find out how he adjusts to Ramadan and what he looks forward to in the holy month. Edited excerpts from our conversation:

My name is Amr Badreldin, and I’m the CEO of Arkan Palm. I’ve been an entrepreneur for around 50 years and I’ve worked across different sectors like development, tourism, agriculture, imports, and exports. I’ve spent decades working in Egypt’s real estate sector, leading projects that transform urban spaces. I also led development projects in the UK, which showed me the importance of delivering work that is complete, well-executed, and punctual. These are all values we’ve embedded into Arkan Palm.

My main role involves focusing on the future. I guide the company’s vision, planning a year or a year-and-half in advance and monitoring how the plan is being carried out every 2-3 weeks. Because the market is very volatile — in the way of inflation, interest rates, import regulations, foreign exchange — constant monitoring is essential. It allows you to stay on top of your business and calibrate the strategy whilst guiding your daily decisions. You could change your entire course of action overnight based on market changes. Beyond Egypt, I also keep an eye on global news or trends that could impact the local market.

Arkan started with the observation that there weren’t enough places in Sheikh Zayed where people could go out. This was at a time when people were transitioning from socializing in sports clubs to spending time in cafes. My vision was to create a venue that would offer an assortment of reputable cafes and dining venues — from fine dining and sushi spots to traditional qahwas and Lebanese restaurants. The project was very successful, and we then moved on to the second phase, which was driven by the vision of creating a holistic district — complete with hotels, a cinema, a theater, tennis courts, and everything in between. Today, Arkan’s footfall is 45k visitors per day — that’s around 12-13 mn visitors a year.

Our next project is 205, which is around 11x larger than Arkan Plaza and will be a central entertainment hub in West Cairo. The project will feature three hotels — a 200-room Holiday Inn, a 250-room InterContinental, and a 150-room Voco — alongside the three tallest towers in West Cairo. The project will also include an artificial canal, 200k sqm of retail and entertainment spaces, and 500k sqm of office buildings. Sustainability is key to the project — 22-25% of its electricity will be powered by solar energy, and it will have a greywater recycling system for air conditioning. The development will also include a residential area, a hospital, and over 20k parking spaces. We will deliver the first third of the project within a year.

I wake up early, and I take some time to read before diving into the day. The morning is my chance to organize my thoughts and prepare for the day ahead. After that, I go straight into work mode. My schedule is packed with meetings because we’re constantly reassessing our plans to stay on top of Egypt's fast-changing market. My routine does not change during Ramadan. I don’t usually nap in the afternoons, so when I come home from work, I have iftar and then take a walk or spend time with family and friends in the evenings.

There’s no real constant in my day; I enjoy changing things up. I like to explore and try new things, even to the point of moving houses 11 times. If there’s one constant for me, it’s movement. Even at the office, I don’t call people into my office; I go to them instead. I prefer to stay active and on the move.

Time is essential to me and good timing is a core part of my personality. Punctuality is extremely important, and I expect the same from those around me. Wasting time really limits what you can achieve. A person works around 80k hours in a lifetime, so making the most of it is essential to success.

Maintaining good health is my top priority. Beyond that, I’m content in my personal life. Professionally, my focus is on ensuring our projects are delivered on time and to the highest standards.

I work around the clock, so when I feel exhausted, I take time off to travel, unwind, walk, or try new things. This helps me come back to work feeling refreshed and ready to do my best.

I don’t have specific preferences when it comes to reading. I enjoy researching and exploring a wide range of topics. They’re not always work-related or subjects most people focus on, but I like to stay informed.

The best piece of advice I’ve been given is to never waste time. Make the most of every minute. Whether you’re working, eating, or enjoying yourself, do it with purpose and to the best of your ability. Avoid lazing around and doing nothing and engage in activities that add value to you and to your life.

CALENDAR

MARCH

Arla Foods’ deadline for Domty acquisition offer.

Alwaad Investment to inaugurate a new cold beverage plant with an annual production capacity of 14.5 mn units.

Al Ahly Sabbour to finalize preparations for its EGX listing, offering 20-25% of its shares, with an advisor to be tapped in early 2025.

March-April 2025: The government plans to start collecting taxes on capital gains from EGX transactions.

Egypt-Sierra Leone Business Forum.

APRIL

7-9 April (Monday-Wednesday): Narrative PR Summit’s 9th edition, Somabay

7-10 April (Monday-Thursday): EFG Hermes One on One conference, Dubai, UAE

10 April (Thursday): Capmas expected to release inflation data for March.

17 April (Thursday): Monetary Policy Committee’s second meeting.

28-30 April (Monday-Wednesday): FDC Regional Digital Industry Summit will launch cybersecurity index.

Business-to-business forum of Egyptian and Moroccan companies to promote bilateral trade, Cairo, Egypt.

The Suez Canal Container Terminal will begin trial operations for its expanded East Port Said facilities.

Government begins talks with EU on the second tranche of the of the EUR 5 bn concessional loans package

Saxony Delegation visit to Egypt.

Egypt to launch trial operations of the first phase of its USD 1.8 bn Egypt-Saudi electricity interconnection project, ahead of schedule

Tahya Misr 1 container terminal to begin operations, adding 3.5 mn container capacity to the port.

MAY

10 May (Saturday): Capmas expected to publish inflation data for April.

1 May-10 July (Thursday-Tuesday): 500 Global's Scale Up Program, Cairo

18-20 May (Sunday-Tuesday): First Arab International Exhibition for Sustainable Development.

22 May (Thursday): Monetary Policy Committee’s third meeting.

Egyptian Exporters Association (Expolink) exhibition, Italy

French rolling stock manufacturer Alstom will submit technical and financial bids for Cairo Metro Line 6

Egyptian-Russian Business Forum

May 2025: Egypt-Singapore Business Forum, Cairo.

JUNE

10 June (Tuesday): Capmas expected to publish inflation data for May.

June 2025: MPs approveextension of tax dispute resolution window until 30 June 2025, with potential for further extension

June 2025: Nissan and Honda finalise talks about possible merger to create the world’s third largest automobile company by sales.

June 2025: Coficab to complete its USD 88 mn automotive cable and electrical factory in Tenth of Ramadan City

JULY

10 July 2025 (Thursday): Monetary Policy Committee’s fourth meeting.

15-16 July 2025 (Tuesday-Wednesday): Egypt Mining Forum.

July 2025: The first operational trail of Egypt-KSA electricity interconnection line.

July 2025: Etihad Airways to launch twice-weekly flights to Alamein

July 2025: Israel to begin increasing gas exports to Egypt from Chevron’s offshore Tamar field

AUGUST

28 August 2025 (Thursday): Monetary Policy Committee’s fifth meeting.

August 2025: Tourism Development Authority to waive late payment penalties for land purchases if full installments are paid

SEPTEMBER

September 2025: Egypt Education Platform (EEP) to launch two new schools in Alexandria and Somabay

September 2025: Egypt Otsuka’s nutritional products factory in Tenth of Ramadan to begin operations, with exports to Gulf countries expected by January 2026

OCTOBER

2 October 2025 (Thursday): Monetary Policy Committee’s sixth meeting.

NOVEMBER

20 November 2025 (Thursday): Monetary Policy Committee’s seventh meeting.

DECEMBER

1-4 December: Egypt Defence Expo (EDEX), Egypt International Exhibition Centre.

25 December: (Thursday): Monetary Policy Committee’s eighth meeting.

December: Taqa Arabia and Voltalia to complete studies for repowering the 545-MW Zafarana wind farm with 1.1 GW of wind and 2.1 GW of solar power

EVENTS WITH NO SET DATE

Early 2025: ADQ to break ground on the development of Ras El Hekma

Early 2025: Al Ismaelia to begin working on two new hotels and hotel apartments in Downtown Cairo.

Early 2025: The Communications Ministry will unveil the second edition of its national AI strategy in early 2025

Early 2025: The Suez Canal Authority to launch an IPO for the Canal Company for Mooring and Lights (CCML) on the EGX.

Early 2025: Orange Egypt to launch 5G services, with EGP 10 bn planned for network upgrades.

Early 2025: BP to begin drilling at the King Mariout Offshore concession.

Early 2025: Jinbei Royal Egypt to begin local assembly of 3k Jinbei vehicles, including the country’s first electric cargo van and microbus

1Q 2025: The Egyptian-Italian business forum

1Q 2025: Investment Minister Hassan El Khatib to visit Italy

1Q 2025: Eipico’s biopharma plant to begin operations

1Q 2025: Finance Ministry to launch public consultations on its tax policy document

1Q 2025: Egypt to sign trade agreements with Bahrain and UAE to slash customs clearance times

1Q 2025: Government to launch EUR 271 mn green industry program to cut emissions

1Q 2025: Egypt-Azerbaijan joint committee to meet to bolster trade and investment ties

1Q 2025: Turkish Automotive Manufacturers Association and Turkish Contractors Association to visit Egypt following an invitation from the Investment Minister

1Q 2025: One of four companies, including Abu Qir Fertilizers, Mopco, Egyptian Petrochemicals Holding Company, and a Saudi-affiliated firm, to be selected for the USD 450 mn redevelopment of Delta Fertilizers

1Q 2025: GV Auto to begin local production of FAW Group’s cheapest EV model.

1Q 2025: Alkan Auto to launch BAIC subsidiary Arcfox’s EVs to the market.

1Q 2025: Dynamic Distribution to launch a new competitively-priced Fiat model in Egypt.

1Q 2025: BP to drill two USD 160 mn exploratory gas wells in the West Delta.

1Q 2025: Port Said for Engineering Works to begin construction on a USD 80 mn aluminum foil factory in the SCZone, targeting initial production of 60k tons annually.

1Q 2025: Pearl Polyurethane Systems to start production at its EGP 100 mn polyurethane factory in the Sokhna Industrial Zone.

1Q 2025: Sumitomo Electric to officially open its EUR 22 mn cable factory in Tenth of Ramadan, with production set to begin next month.

1Q 2025: Construction of the USD 600 mn natural gas treatment plant in the Western Desert’s Meleiha concession to wrap up, followed by a pilot run.

1Q 2025: El Araby Group and Sharp to break ground on a USD 50 mn fridge and freezer manufacturing plant in the Quweisna zone.

1Q 2025: Hangzhou Henneway Travel Goods to begin production at its USD 50 mn factory in the West Qantara Industrial Zone

1Q 2025: BP to drill two USD 160 mn exploratory gas wells in the West Delta

Mid-2025: EGX launches sustainability index.

2Q 2025: Financial Regulatory Authority (FRA) to introduce derivatives on the EGX

2Q 2025: Safaga Terminal 2 to start operations

2Q 2025: Hassan Allam to build infrastructure for AD Ports' Noatum terminal at Safaga

2Q 2025: EgyptSat Auto to start production at its EV factory in Tenth of Ramadan City

1H 2025: EGX launches a sharia-compliant sustainability index.

1H 2025: Digital Financial Identity Company will launch an electronic bank account opening service

1H 2025: The Egyptian-US Investment Forum.

1H 2025: The Egyptian Mineral Resources Authority will relaunch a global tender for gold exploration through Shalateen Mineral Resources company.

1H 2025: Internal Trade Development Authority (ITDA) to establishfour logistics zones with EGP 18-20 bn investments

1H 2025: Natco to launch Chinese firm Neta Auto’s EV models.

1H 2025: OCI Global to complete the sale of its entire methanol business to Methanex for USD 2.05 bn.

1H 2025: Egypt and the UAE to begin construction of a USD 3 bn petroleum logistics zone at Al Hamra Port

1H 2025: HoldiPharma to list 25-30% stakes in Misr Pharma and Chemical Industries Development (CID) on the EGX

1H 2025: Korra Energi to list up to 20% stake on the EGX

1H 2025: Smart Villages Development and Management Company plans to list 30-35% of its shares on the EGX

1H 2025: Halliburton to bring three gas wells online as part of the Burullus project.

1H 2025: Chevron to begin gas production from the offshore Nargis gas field, initially producing 600 mn cf.

1H 2025: Nile Recycling to launch USD 20 mn PET recycling facility in Ain Sokhna, targeting an annual capacity of 22k tons and reducing carbon emissions by 40k tons

3Q 2025: Nasr Automotive begins locally manufacturing passenger cars.

3Q 2025: AMEA Power to bring 500 MW Amunet wind farm online in Ras Ghareb

4Q 2025: Abou Ghaly Motors to introduce the Subaru Solterra to the market

4Q 2025: Two new projects in food manufacturing and home textiles to begin operations in the Qantara West Industrial Zone

2H 2025: National Printing Company to make its EGX debut after delayed IPO plans

2H 2025: Tabarak Holding to list 30% of its shares on the EGX

2H 2025: Turkish apparel company Denim Rise to open a garment manufacturing facility

2H 2024: Hi-Tech Apparel to break ground on a USD 20 mn sportswear factory in the SCZone

2H 2025: Eni to drill two new wells in the Zohr field with USD 160 mn in investments

Mid-2025: The Administrative Capital for Urban Developments to roll out the second phase of offering industrial plots to investors

Mid-2025: SN Automotive to launch three locally assembled models — one electric and two gasoline-powered — in Egypt

Mid-2025: Suez’s USD 1.8 bn coal and diesel production complex, developed by Enppi and Petrojet, to be completed

Mid-2025: Wataneya and Safi to debut on the EGX

End of 2025: The Egypt Digital Industrial Platform will expand to include additional services for manufacturers, including the issuance of licenses, building permits, and industrial records

End of 2025: An unnamed Chinese company and the state-owned Arab Organization for Industrialization (AOI) to begin production at a USD 360 mn tire factory in the SCZone.

End of 2025: A consortium including Redcon Properties and Al Baraka Bank to launch a local real estate investment fund with over EGP 1 bn in initial investments

Late 2025: Baron Hotels to open a new hotel in Sharm El Sheikh and debut its first international property in Zanzibar with 150 luxury suites

2025: The InterAcademy Partnership assembly

2025: Nile Basin States Summit, Cairo, Egypt

2025: Release of the government’s Startup Charter document

2025: Nafeza to integrate air cargo into its digital customs platform, further streamlining trade logistics

2025: Africa50 completes 42.9% stake acquisition in Raya Data Centers for USD 15 mn to fund construction of a USD 35 mn Tier III data center.

2025: MM Group for Industry and International Trade is set to launch 16 new Tata vehicle models locally.

2025: China to issue USD 411 bn in special treasury bonds

2025: El Attal Holding to list 30-35% of its shares on the EGX

2025: The Administrative Capital for Urban Development (ACUD) to launch its EGX debut, offering 5-10% of its shares.**

2025: Basata Holding for Financial Investments to offer 25% stake on the EGX as part of a plan to double its capital to EGP 1.4 bn.**

2025: Hilton Cairo Nile Maadi to open early in the year, alongside debuts of Tapestry Collection and Curio Collection by Hilton.

2025: Palm Hills and Marriott to launch The Ritz-Carlton Residences in West Cairo, featuring 150 branded units across 45 acres

2025: Jaz Hotel Group to set up two new hotels in North Coast, two in Hurghada, and two in Marsa Alam

2025: Sunrise Resorts & Cruises to add 4k hotel rooms to its hotels capacity.

2025: Egyptian Petrochemicals Holding Company (ECHEM) to complete studies and kick off production of Egypt’s first sustainable aviation fuels (SAFs).

2025: Polaris Parks to begin development of the industrial park in New October City

2025: EgyptAlum to launch a USD 100 mn foil production line with a 50k-ton annual capacity

2025: Honor to begin operations at its proposed smartphone manufacturing facility in Egypt, with an initial investment of USD 10 mn

2025: Indorama and Phosphate Misr to begin implementation of the USD 400-500 mn phosphate fertilizers plant in Ain Sokhna

FY 2025-26: Egypt to issue its first EGP-denominated sovereign sukuk to finance public investments outside the general budget

FY 2025-26: The government to begin introducing cash-based subsidies on a trial basis in select areas of the country

2025-2027: EUR 4 bn in concessional loans to follow as part of a EUR 7.4 bn package

2026

Baron Hotels to launch two hotels in Egypt with 950 rooms, followed by another with 750 rooms.

May 2026: End of extension for developers on 15% interest rates for land installment payments

2027

20 January-7 February: Egypt to host the African Games

EVENTS WITH NO SET DATE

2027: Egypt to host EBRD’s annual meetings for 2027.

End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place

September 2028: First unit of the Dabaa nuclear power plant begins operations

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