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ADQ to sell first USD-denominated bonds
The USD-denominated issuance would help fund future acquisitions
Cabinet greenlights freezone, tourist port for Ras El Hekma
Ras El Hekma for Urban Development will set up the free zone and tourist port
THIS WEEKEND: Ras El Hekma investment dominates the news as the first and second batches arrive with a total of USD 10 bn from the contracted USD 35 bn.
Good morning, friends. We hope this Friday treats you well. We are counting down the days until Ramadan begins. What…
El Sisi’s address announcing the arrival of the first tranche of Ras El Hekma funds dominated the airwaves last night
ADQ deposited the first tranche of its USD 35 bn Ras El Hekma investment at the central bank on Tuesday
THIS EVENING: ADQ pays up the first chunk of its investment for Ras El Hekma development rights
Good afternoon, folks, and happy almost-Thursday. As we move towards the end of the week, the news cycle is staying…
EGP strengthens on parallel and derivatives markets
Twelve-month NDFs saw the USD-EGP rate decline 11.5% throughout the day to 57.5 after the news of the ADQ sale…
How will we use the cash? Clearing the backlog, paying foreign partners top the list
Brace for a “modest” devaluation — if the IMF facility comes through, policymakers will have four years of runway when…
ADQ acquires development rights to Ras El Hekma for USD 24 bn, will invest a further USD 11 bn in “real estate and other prime projects”
Ras El Hekma will be transformed into a “next-generation city,” housing tourism, urban, commercial, and recreational spaces
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