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Two new hotels in the making with investments of USD 85 mn
The two Crowne Plaza hotels are set to open in 2028
Gov’t mulls subsidized loan program for hospitality players to boost hotel room capacity
The initiative will offer investors subsidized loans at a 12% interest rate
Italian energy giant Eni slows down Egypt operations. PLUS: More incoming LNG shipments, foreign funding for high-speed rail, Hassan Allam + Siemens land GCC railway project, new Nobu project
Eni had announced as recently as September its intention to invest USD 7.7 bn with its partners in Egypt over…
South Africa’s Standard Bank Group to set up Egypt office in 2024. PLUS: BP projects float impact, EBRD funds SMEs, Eastern hikes smoke prices, Arabia Hotels builds new Giza Pyramids hotel
The South African bank’s presence in Egypt will allow the bank “to capitalize on the significant emergence of the Gulf-sub…
Steigenberger to operate a tourist city in St. Catherine
Steigenberger will manage hotels and ecotourism resorts within Misr Sinai Tours’ new tourist city part of the Great Transfiguration
Tanmeyah, MSMEDA to lend out up to EGP 200 mn to microenterprises. PLUS: News from Smokery, House, ACDIMA
The two sides will hand out loans of up to EGP 220k to some 10k microenterprises
Egypt sees an uptick in tourist arrivals in 2024, despite Gaza war straining tourism targets
Egypt wants to increase number of hotel rooms to 432k by 2028 to welcome 30 mn tourists a year
Arab International Company for Hotels and Tourism eyes asset sales to pay off debts. PLUS: Egyptian-Chinese cars by 2025, Egypt commits to Eni payments, MSC eye logistics investments, Real Estate Tax Authority + E-Tax, Banque Misr SME platform
Unconfirmed media reports in 2023 said that the company had received a USD 320 mn offer from a Qatari group…
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