{"id":674015,"date":"2025-10-22T00:00:00","date_gmt":"2025-10-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=674015"},"modified":"2025-12-18T08:55:13","modified_gmt":"2025-12-18T08:55:13","slug":"imf-now-sees-the-economy-growing-4-5-this-fiscal-year","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-now-sees-the-economy-growing-4-5-this-fiscal-year\/","title":{"rendered":"IMF now sees the economy growing 4.5% this fiscal year"},"content":{"rendered":"<section id=\"674017\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"674017\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">What We're Tracking Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/el-sisi-is-in-brussels-for-first-ever-eu-egypt-summit\/\">\r\n                            El Sisi is in Brussels for first-ever EU-Egypt Summit                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/el-sisi-is-in-brussels-for-first-ever-eu-egypt-summit\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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data-attachment-id=\"674018\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/el-sisi-is-in-brussels-for-first-ever-eu-egypt-summit\/1079-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1079.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1079.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1079.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1079.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-674017\" class=\"content-area-description single-story post-674017 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-abdel-fattah-el-sisi tag-enterpriseam tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.5c5b99ad-3327-48e1-89fa-c01849e866eb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, all.<\/strong> We have another busy issue for you this morning as we dive into the IMF\u2019s latest regional economic outlook, which sees local growth accelerating beyond previous predictions as inflows pick up. We also have the latest on yet another proposed tax facility to boost manufacturing and the government launching a fresh mortgage financing initiative. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We don\u2019t expect the news flow to slow down <\/strong>with the first EU-Egypt summit kicking off in just a few hours. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/944.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EnterpriseAM Egypt Forum is over. The insights are just getting started.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">This year's forum was packed with actionable intelligence on the future of Egyptian business. To make sure you don't miss a thing, we're launching the <strong>EnterpriseAM Forum Playback<\/strong>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Every Thursday, you'll receive a special newsletter breaking down one key session <\/strong>\u2014 from the future of work to getting capital markets off life support. We'll also drop a companion podcast in our EnterpriseAM Egypt podcast feed so you can listen on the go.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want more?<\/strong> We're soft launching our <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/@EnterpriseAM-official\" style=\"\" rel=\"noopener\">YouTube<\/a> channel where we've dropped video highlights.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>It\u2019s another sunny day in Cairo, with a high of 33\u00b0C and a low of 19\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s more or less the same in Alexandria<\/strong>, with a high of 32\u00b0C and a low of 19\u00b0C.<\/p><p class=\"tag-border-left\">WATCH THIS SPACE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- Progress on the Japanese Industrial Zone? <\/strong>Japan\u2019s Toyota Tsusho could take on the development of the Japanese Industrial Zone under the industrial developer system, which allows private companies to develop land for industrial use and take care of its management, operations, and marketing. This came during a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid0YnMVbJ5UaGpZPo1JAAfddd7WV8mavxTjmEJBSU87DyRA5XFiLVx15cYtnTM9HkcSl?rdid=G8VNhiopwCqmlAUf#\" style=\"\" rel=\"noopener\">meeting<\/a> between company representatives and Suez Canal Economic Zone (SCZone) head Walid Gamal El Din during his promotional tour in Tokyo. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Prime Minister Moustafa Madbouly earlier this year <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f44f5b6-303c-40e8-b793-53b1710eb454\/madbouly-pitches-japanese-industrial-zone-in-sczone\" style=\"\" rel=\"noopener\">invited<\/a> Japanese companies to establish a dedicated Japanese industrial zone in the SCZone. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- During Gamal El Din\u2019s time in Tokyo<\/strong>, he met with representatives from Japanese food services provider Zensho Holding, where the two sides discussed launching joint food processing, packaging, and storage projects.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>The government is planning to shorten the approval process for tourism <\/strong><strong>projects from two years to one month<\/strong>, aiming to boost investment and streamline administrative procedures, according to an Investment Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/permalink.php?story_fbid=pfbid04MAwropqGSrXtSxfNjDixQpduoZpGngSUwmzuDzkTYPXT8D1247voDSaGxruxAe1l&amp;id=61562245173260\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>#1- President Abdel Fattah El Sisi is in Brussels for the first-ever <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.consilium.europa.eu\/en\/meetings\/international-summit\/2025\/10\/22\/\" style=\"\" rel=\"noopener\">EU-Egypt<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.consilium.europa.eu\/en\/meetings\/international-summit\/2025\/10\/22\/\" style=\"\" rel=\"noopener\">Summit<\/a><\/strong>, according to an Ittihadiya <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02Qor9wmsmVz8HqRBcmNpFHTaijJ5DMe6oBdN1vSL5XP5vjAeeTs9d1VDFVCfMVQ67l\" style=\"\" rel=\"noopener\">statement<\/a>. El Sisi will be joined by European Council President Ant\u00f3nio Costa and European Commission President Ursula von der Leyen to discuss strengthening political and economic ties under the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/183954ef-4dc7-49c8-9499-743e77de1e74\/eu-pledges-eur-7.4-bn-aid-package-for-egypt\" style=\"\" rel=\"noopener\">EU-Egypt Strategic and Comprehensive Partnership<\/a> and build on Egypt\u2019s role as a key stabilizing force in the region, according to an European Council <a target=\"_blank\" href=\"https:\/\/www.consilium.europa.eu\/en\/press\/press-releases\/2025\/10\/17\/first-ever-eu-egypt-summit-to-take-place-in-brussels-on-22-october\/\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Sisi is also set to hold a series of meetings on the sidelines of the visit<\/strong>, including with King Philippe of Belgium and several senior EU officials and European leaders, according to a separate Ittihadiya <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0XRqDMaRX5YtnPb88HTYVQXcf8wTdPUm166RceaG7z4bqYSChw2Nft37kqTDvDcLYl\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian and European leaders in the public and private sectors will take part in a day of <\/strong><strong>discussions <\/strong>under the theme Implementing the EU-Egypt Strategic and Comprehensive Partnership: Accelerating Strategic Investment, Industrial Transformation and Innovation. Foreign Minister Badr Abdelatty and Investment Minister Hassan El Khatib will be among those taking to the stage, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/951.pdf\" style=\"\" rel=\"noopener\">draft agenda (pdf)<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong>Last year, the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/183954ef-4dc7-49c8-9499-743e77de1e74\/eu-pledges-eur-7.4-bn-aid-package-for-egypt\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/183954ef-4dc7-49c8-9499-743e77de1e74\/eu-pledges-eur-7.4-bn-aid-package-for-egypt\" style=\"\" rel=\"noopener\">EU pledged a EUR 7.4 bn package<\/a> of loans, grants, and investments through to 2027 and inked a joint strategic and comprehensive partnership with Egypt. The package included a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/77aff167-211c-469e-99d6-52ac8ef6a789\/eu%25e2%2580%2599s%253cmark%253e-eur%253c%2Fmark%253e-1.8%253cmark%253e-bn%253c%2Fmark%253e-investment-guarantee-mechanism-to-mobilize%253cmark%253e-eur%253c%2Fmark%253e-5%253cmark%253e-bn%253c%2Fmark%253e-in-investments-through-2027-launched\" style=\"\" rel=\"noopener\">EUR 1.8 bn investment protection mechanism<\/a>, EUR 5 bn in concessional loans to provide macro-financial assistance, and EUR 600 mn in grants.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- It\u2019s the last day of the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/awiu.net\/upcoming-event\/\" style=\"\" rel=\"noopener\">Arab-African Investment &amp; International Cooperation<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/awiu.net\/upcoming-event\/\" style=\"\" rel=\"noopener\">summit<\/a><\/strong><strong>. <\/strong>The four-day event, organized by the Arab Women Investors Union in Cairo, focused on sustainable development, international partnerships, and capital pathways for this year\u2019s edition.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3-<\/strong> <strong>Want to pursue a career in sustainability? <\/strong>Then you should attend this year\u2019s <a target=\"_blank\" href=\"https:\/\/www.localized.world\/conference\/invitation\/20\/the-green-talent-forum-2025\" style=\"\" rel=\"noopener\">Gre<\/a><a target=\"_blank\" href=\"https:\/\/www.localized.world\/conference\/invitation\/20\/the-green-talent-forum-2025\" style=\"\" rel=\"noopener\">en Talent Forum<\/a> \u2014 a virtual event for fresh talent looking to explore sustainable career paths. The forum will dive into sustainable supply chains, green energy, decarbonization, CSR, climate finance, and sustainable agriculture, with a group of regional and international experts leading the conversation. You can find the link to register for the event on the Localized website \u2014 but hurry up, the forum kicks off in just a few hours, at 12:45pm. <\/p><p class=\"tag-border-left\">DIPLOMACY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Head<\/strong><strong> of the General Intelligence Service Hassan Rashad met with Israeli Prime <\/strong><strong>Minister Benjamin Netanyahu in Jerusalem yesterday <\/strong>to discuss moving forward with US President Donald Trump\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78bcc3b1-9a18-4022-8e0d-2036f44ea565\/world-leaders-sign%253cmark%253e-gaza%253c%2Fmark%253e-peace-accord-in-sharm-el-sheikh\" style=\"\" rel=\"noopener\">peace plan<\/a>, Egyptian-Israeli relations and \u201cstrengthening the peace between the two countries,\u201d according to a <a target=\"_blank\" href=\"https:\/\/www.gov.il\/en\/pages\/pm-netanyahu-meets-with-the-head-of-egyptian-intelligence-21-oct-2025\" style=\"\" rel=\"noopener\">statement<\/a> from the Israeli side. <\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a busy morning in the international business press<\/strong>, while a Russia-Ukraine ceasefire looks further from reach after Russia rejected US President Donald Trump\u2019s ceasefire proposal, and a planned Russia-US summit in Budapest was shelved. (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/10\/21\/us\/politics\/trump-putin-ukraine-meeting.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/european-leaders-issue-statement-backing-trumps-ukraine-ceasefire-position-2025-10-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The biggest business headlines: <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Gold broke its record rally after seeing its steepest drop in years<\/strong>, as investors began to buy the dip in a rare pullback this year against the backdrop of a strengthening USD and easing trade tensions between China and the US. Spot gold fell 6% to USD 4.1k, after the precious metal climbed 28% YTD, with analysts now questioning whether this could mark the end of the metal\u2019s brilliant run and the start of a correction cycle. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/5ad25988-da6f-4d2c-98a7-76ba1dd31736\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/golds-record-run-pauses-investors-book-profits-2025-10-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- OpenAI launched its own competitor to Google\u2019s search engine, Atlas<\/strong>, built around ChatGPT, sending shares of Google\u2019s parent Alphabet down 1.8% yesterday and intensifying competition between the two tech giants. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/openai-unveils-ai-browser-atlas-2025-10-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-10-21\/openai-set-to-challenge-google-with-new-chatgpt-atlas-browser\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c2cc28d9-1ac1-47f9-8c56-d6f4323d2610\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/technology\/2025\/oct\/21\/openai-chatgpt-web-browser-atlas\" style=\"\" rel=\"noopener\">Guardian<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Netflix\u2019s shares also took a hit, falling more than 5% after missing its third-quarter earnings target<\/strong> due to a hefty tax expense in Brazil. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/media-telecom\/netflix-misses-earnings-targets-after-tax-dispute-brazil-2025-10-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/10\/21\/netflix-nflx-earnings-q3-2025.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3fbacca3-0b93-4fec-8207-0ac75401b697\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/earnings\/netflix-nflx-q3-earnings-report-2025-c2654ede?mod=lead_feature_below_a_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- In M&amp;A news, Warner Bros rejected a c. USD 60 bn bid from Paramount Skydance<\/strong>, though it is open to selling its assets, with interested parties including Netflix and Comcast. (<a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/media\/warner-bros-discovery-begins-strategic-review-amid-acquisition-interest-d884bf69?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">WSJ<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/warner-bros-discovery-initiates-review-strategic-alternatives-2025-10-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/90534d71-6151-4e26-9a10-70032b2af292\" style=\"\" rel=\"noopener\">FT<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2503.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> EnterpriseAM\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a deep dive into what\u2019s driving \u2014 and also holding back \u2014 the recovery of the country\u2019s real estate market. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"674019 advertiser\" class=\"issue-section enterprise-adv -\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"674019\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/674019\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-674019\" class=\"content-area-description single-story post-674019 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/664.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span>From October 12\u201316, Somabay hosted the Somabay World Cup for the first time in Egypt, welcoming 173 participants from 19 countries to its signature Red Sea course. The tournament spotlighted Egypt\u2019s growing presence on the global golf map, set against Somabay\u2019s year-round sunshine, luxury resorts, and world-class sports and leisure scene.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"674020\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"674020\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/imf-upgrades-our-fy-2025-26-growth-forecast-to-4-5\/\">\r\n                            IMF upgrades Egypt\u2019s FY 2025-26 growth forecast to 4.5%                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/imf-upgrades-our-fy-2025-26-growth-forecast-to-4-5\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n       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data-attachment-id=\"674021\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/imf-upgrades-our-fy-2025-26-growth-forecast-to-4-5\/1071-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1071.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1071.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1071.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1071.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-674020\" class=\"content-area-description single-story post-674020 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-imf wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.ebb395c1-915d-49ab-9233-2abe995b4e93.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The International Monetary Fund (IMF) now sees Egypt\u2019s real GDP growing by <\/strong><strong>4<\/strong><strong>.5% in the 2025-2026 fiscal year<\/strong>, a 0.4 percentage points increase from its latest forecast in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/786d4667-139a-4b10-982f-e98deca20819\/%253cmark%253e%253c%2Fmark%253ekey%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253etakeaways%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efrom%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eimf%253cmark%253e%253c%2Fmark%253e%25e2%2580%2599%253cmark%253e%253c%2Fmark%253es%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efourth%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eloan%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ereview%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">July<\/a>, according to the fund\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/1038.pdf\" style=\"\" rel=\"noopener\">latest Regional Economic Outlook (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IMF\u2019s upward revision aligns with the Madbouly government <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/067ba81c-e766-415f-b4fd-411d7fd49186\/a-look-into-the-government%25e2%2580%2599s-economic-targets-for-the-next-four-fiscal-years\" style=\"\" rel=\"noopener\">forecast<\/a><\/strong> of 4.5% growth during the current fiscal year and is more optimistic than <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17f886b6-f32d-4e8d-8f7f-dba227b56f02\/%253cmark%253eworld-bank%253c%2Fmark%253e-bumps-up-growth-forecast-for-current-fiscal-year-to-4.3%2525\" style=\"\" rel=\"noopener\">the World Bank\u2019s<\/a> 4.3% forecast and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b6850352-61b4-47f1-a69e-a6ef34d026d5\/ebrd-upgrades-egypt%25e2%2580%2599s-2025-growth-forecast\" style=\"\" rel=\"noopener\">European Bank of Reconstruction and Development\u2019s<\/a> 4.4% forecast.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the growth: <\/strong>The upgrade was supported by an uptick in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14fe1821-e6c3-4ea4-9117-c4a57c0d669f\/%253cmark%253eremittances%253c%2Fmark%253e-grow-for-17th-consecutive-month\" style=\"\" rel=\"noopener\">remittance<\/a> inflows from Egyptians abroad and an increase in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/866d875b-1b9b-4e98-910c-fe43aa07a7d4\/gov%25e2%2580%2599t-is-looking-to-increase%253cmark%253e-tourism%253c%2Fmark%253e-revenues-to-usd-24-bn-by-fy-2028-29\" style=\"\" rel=\"noopener\">tourism revenues<\/a>, both of which are helping improve our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c64ad0cb-f3a5-4d5f-8e2c-7658c1a7c9a9\/current-account-deficit-narrows-to-usd-15.4-bn-in-fy-2024-25\" style=\"\" rel=\"noopener\">current account<\/a> balance, the IMF said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s external position is projected to strengthen gradually in the medium term<\/strong> as tourism inflows gain more momentum and exports are expected to see a boost as regional trade normalizes, the fund says. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But elevated borrowing costs remain a key vulnerability for Egypt<\/strong>, with the banking system holding large shares of sovereign bonds on its balance sheet, the IMF warns. However, public debt is expected to \u201cstabilize at, or modestly decline from, relatively high levels.\u201d In <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da175d77-a5bd-4ac2-99e2-b88bd8104616\/finance-ministry-to-reveal-egypt%25e2%2580%2599s%253cmark%253e-public%253c%2Fmark%253e%253cmark%253e-debt%253c%2Fmark%253e%253cmark%253e-strategy%253c%2Fmark%253e-in-december\" style=\"\" rel=\"noopener\">the new public debt strategy<\/a>, the Finance Ministry aims to bring public debt down to below 75% of GDP within three years, compared to 85% in the last fiscal year, while cutting debt servicing costs to 7% of GDP and extending debt maturity to five years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflation outlook remains positive:<\/strong> The IMF sees inflation slowing to 11.8% next year, which is a significant decline from the rates observed in the previous years, Jihad Azour, director of the IMF's Middle East and Central Asia Department, said in a <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2025\/10\/20\/tr-10-17-25-mcd-press-briefing-transcript\" style=\"\" rel=\"noopener\">press briefing<\/a>. This downward path will be buoyed by the \u201cwaning effects of past currency depreciation and energy price hikes,\u201d according to the report. In July, the IMF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/786d4667-139a-4b10-982f-e98deca20819\/%253cmark%253e%253c%2Fmark%253ekey%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253etakeaways%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efrom%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eimf%253cmark%253e%253c%2Fmark%253e%25e2%2580%2599%253cmark%253e%253c%2Fmark%253es%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efourth%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eloan%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ereview%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">projected<\/a> inflation reaching 15.3% on average during FY 2025-26, before cooling down to 10.7% on average in the upcoming fiscal year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Annual headline urban inflation fell by 0.3 percentage points <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c40d6d15-1ca1-41df-9780-f9a5728ab73a\/%253cmark%253einflation%253c%2Fmark%253e-cools-for-fourth-straight-month-in-september-to-11.7%2525\" style=\"\" rel=\"noopener\">in September<\/a> to end the month at 11.7%. The fall marked the fourth consecutive month of easing price inflation and the lowest annual figure since March 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OTHER KEY TAKEAWAYS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Discussion between the Madbouly government and the IMF regarding <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cdb4f3fe-e1c4-4691-9c87-8360a75fc3d1\/imf-to-combine-fifth,%253cmark%253e-sixth%253c%2Fmark%253e-loan-reviews-to-give-egypt-time-to-meet-reform-targets\" style=\"\" rel=\"noopener\">the combined fifth<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cdb4f3fe-e1c4-4691-9c87-8360a75fc3d1\/imf-to-combine-fifth,%253cmark%253e-sixth%253c%2Fmark%253e-loan-reviews-to-give-egypt-time-to-meet-reform-targets\" style=\"\" rel=\"noopener\">and sixth reviews<\/a><\/strong><strong> of our USD 8 bn loan program are expected to conclude in Q4 2025<\/strong>, Azour told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/imf-says-risks-middle-east-outlook-tilted-downside-global-uncertainty-2025-10-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. It is yet to be determined when the anticipated IMF mission will land in Egypt for the reviews. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Recent consultations held between the two sides touched on several areas<\/strong> \u2014 including improving the business environment and giving more space to the private sector in the economy to support growth and create jobs, according to Azour.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It is not necessary to extend the current program<\/strong>, Azour said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IMF is currently working on two main pillars. <\/strong>The first is accelerating the role of the private sector in the economy and protecting Egypt from any disturbances. The other is protecting the social system by \u201ctransforming parts of the public expenditure to be more targeted and provide more support for the most vulnerable categories through targeted policies, and by creating a bigger space of the public expenditure to support the most vulnerable,\u201d Azour added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\"We encourage the authorities to accelerate the implementation of two important <\/strong><strong>milestones<\/strong> \u2014 divestment and increasing the level of clarity under some of the state-owned enterprises,\u201d Azour told Reuters.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Gaza peace <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/55e1d1dc-c52d-419d-b41d-4c65fff49164\/world-leaders-sign%253cmark%253e-gaza%253c%2Fmark%253e-peace-accord-at-sharm-el-sheikh-summit\" style=\"\" rel=\"noopener\">agreement<\/a><\/strong><strong> will have a positive impact on the Egyptian economy<\/strong>, which has managed to adapt to the shocks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE REGIONAL OUTLOOK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The MENA region\u2019s outlook was revised upward by 0.1 percentage points<\/strong> from July\u2019s forecast to 3.3% in 2025, while the projection for next year\u2019s growth was also revised upward by 0.3 percentage points to 3.7%. The fund now expects the region's GDP to remain broadly steady over the medium term.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cEconomic activity in the Middle East and North Africa has shown remarkable resilience, <\/strong><strong>despite persistent global uncertainty <\/strong>and heightened geopolitical tensions. The region has largely avoided direct fallout from higher US tariffs and global trade restrictions. And while recent tensions have raised concern, their impact has been limited and short-lived,\u201d Azour said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/1042.pdf\" style=\"\" rel=\"noopener\">press briefing (pdf)<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"674022 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"674022\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/674022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-674022\" class=\"content-area-description single-story post-674022 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/omny.fm\/shows\/enterpriseam-egypt\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/9\/715.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"674023\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"674023\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/another-step-toward-bringing-in-cypriot-gas-for-liquidation-re-export\/\">\r\n                            Another step toward bringing in Cypriot gas for liquidation, re-export                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/another-step-toward-bringing-in-cypriot-gas-for-liquidation-re-export\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The agreements were inked by the Oil Ministry, Egas, and field partners Eni and TotalEnergies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Under the agreements<\/strong>, Egypt and the Cronos partners set the commercial and operational terms for transporting, handling, processing, and liquefying the Cypriot gas through Egyptian infrastructure. Both sides also initialed a separate tariff agreement governing the fees for using those facilities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A confirmed timeline: <\/strong>The partners aim to approve the field\u2019s development and production plan alongside a final investment decision by year-end, with first gas from Cronos targeted for 2027, according to the Cypriot <a target=\"_blank\" href=\"https:\/\/www.gov.cy\/energeia-eborio-viomichania\/anakoinosi-tou-ypourgeiou-energeias-eboriou-kai-viomichanias-anaforika-me-tin-ypografi-trion-eborikon-symfonion-gia-axiopoiisi-tou-koitasmatos-fysikou-aeriou-kronos\/\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Egypt and Cyprus inked an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26402e59-0c55-44d8-92dd-c93af6721edc\/\" style=\"\" rel=\"noopener\">agreement<\/a> earlier this year that will see Cyprus ship natural gas from Cronos to be liquefied in facilities in Idku and Damietta before being re-exported to foreign markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The local market could get a slice: <\/strong>\u201cWe will send the natural gas to the Zohr infrastructure \u2026 and from there with a pipeline for liquefaction and processing and to the local market in Egypt if the parties decide so,\u201d Cypriot Energy Minister George Papanastasiou <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/77ba83eb-9a82-44ff-b1c9-eef41bf24ef8\/israel,-hamas-delegations-are%253cmark%253e-in%253c%2Fmark%253e-town%253cmark%253e-for%253c%2Fmark%253e-ceasefire-negotiations\" style=\"\" rel=\"noopener\">said<\/a> earlier this month.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"674025\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div 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           <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/finance-ministry-to-suspend-taxes-on-machinery-and-production-lines-until-factories-begin-operations\/\">\r\n                            Finance Ministry to suspend taxes on machinery and production lines until factories begin operations                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/finance-ministry-to-suspend-taxes-on-machinery-and-production-lines-until-factories-begin-operations\/\" 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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/finance-ministry-to-suspend-taxes-on-machinery-and-production-lines-until-factories-begin-operations\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/983.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"674027\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/finance-ministry-to-suspend-taxes-on-machinery-and-production-lines-until-factories-begin-operations\/983-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/983.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"983.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/983.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/983.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-674026\" class=\"content-area-description single-story post-674026 post type-post status-publish format-standard has-post-thumbnail hentry category-tax tag-customs tag-enterpriseam tag-finance-ministry tag-industry tag-manufacturing tag-tax wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.a8ad12e2-e6c8-4c2c-a7dd-268baf095ff7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fi<\/strong><strong>nMin moves to ease tax burdens on new manufacturing projects:<\/strong> The Finance Ministry has approved a decision to suspend tax payments on machinery, equipment, and production lines \u2014 whether complete, partial, or disassembled \u2014 until installation and inspection are completed, according to a government document seen by EnterpriseAM. The measure, approved by both the tax and customs authorities, is meant to ease cashflow pressures on manufacturers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s eligible?<\/strong> The Customs Authority had initially proposed limiting the facilitation to companies working on national projects, but the Tax Authority confirmed it will apply to all factories and production units used for industrial production. Beneficiaries will be required to submit a written commitment to pay the suspended tax and any applicable additional tax once due.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>A ministerial decree is expected to be issued soon to formally activate the new measure, a government source told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The decision comes as the government steps up support for the industrial sector through a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/830b0126-a7ee-40d9-9804-75d26ff8dcb3\/egypt-extends-subsidized-loan-program-to-support-industry,-agriculture,-renewables\" style=\"\" rel=\"noopener\">EGP 90 bn program of subsidized loans<\/a> for industrial, agricultural, and renewable energy players, a percentage of which is earmarked for purchasing machinery and equipment.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs\/\">customs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"674028\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"674028\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Real estate<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/govt-launches-fresh-mortgage-financing-initiative\/\">\r\n                            Egypt launches fresh mortgage financing initiative                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/govt-launches-fresh-mortgage-financing-initiative\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/govt-launches-fresh-mortgage-financing-initiative\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/govt-launches-fresh-mortgage-financing-initiative\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Gov\u2019t launches fresh mortgage financing initiative&url=https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/govt-launches-fresh-mortgage-financing-initiative\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/govt-launches-fresh-mortgage-financing-initiative\/&title=Gov\u2019t launches fresh mortgage financing initiative\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Gov%E2%80%99t+launches+fresh+mortgage+financing+initiative+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F10%2F22%2Fgovt-launches-fresh-mortgage-financing-initiative%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/govt-launches-fresh-mortgage-financing-initiative\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/379.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"674029\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/govt-launches-fresh-mortgage-financing-initiative\/379-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/379.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"379.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/379.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/379.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-674028\" class=\"content-area-description single-story post-674028 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-enterpriseam tag-housing-ministry tag-palm-hills-developments tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.7733629f-bb1e-42bd-8950-9d90dbfed753.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Housing Ministry has launched a new mortgage financing initiative<\/strong> in partnership with Banque Misr, CIB, QNB Al Ahli, and Arab African International Mortgage Finance, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02EQnn6eEH3SwSsyewS9U6jcD2d6VqX3pJGRKJVu7sLhqhVvpYgkevpebydrSEp3Jol\" style=\"\" rel=\"noopener\">statement<\/a>. The initiative covers residential, administrative, and commercial units offered by the New Urban Communities Authority (NUCA).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s new? <\/strong>Unlike previous central bank-backed programs that offered subsidized mortgage financing, this initiative offers flexible terms \u2014 repayment periods of up to 20 years and lower down payments. It also covers ready-to-move units not included in past programs, allows easy rescheduling for existing clients, and enables financing for resold units delivered by NUCA. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You heard it here first: <\/strong>EnterpriseAM last week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8ca8e4f7-4569-4477-9aa5-1ace71d34021\/egypt-mulls-low-interest-financing-for-home-buyers\" style=\"\" rel=\"noopener\">reported<\/a> that the government is studying a number of proposed low-interest financing initiatives intended for prospective buyers in the real estate market. At the time, we were told that the move would help keep demand healthy \u2014 and, importantly, liquidity in play \u2014 until the central bank lowers interest rates to 15.00-16.00%, down from the current <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da4c3c78-eb78-465c-82e3-ac8b105a4da5\/central-bank-of-egypt-resumes-rate-cuts-with-100-bps-move\" style=\"\" rel=\"noopener\">21.00%<\/a> overnight deposit rate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The initiative targets a broader customer base<\/strong>, including Egyptians abroad, Arab and foreign investors, and buyers of administrative and commercial units, not just homes. Housing Minister Sherif El Sherbiny said the initiative will help speed up the sale process, ensure steady financial inflows to fund new projects, and support financial inclusion. He added that the initiative could attract more local and foreign investment to the sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The impact: <\/strong>The real estate sector needs liquidity to meet delivery deadlines. Launching new financing programs could help ease cash flow pressure and support developers, a government source previously told EnterpriseAM. <\/p>\n<p class=\"tag-border-left\">IN OTHER REAL ESTATE NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi<\/strong> <strong>Samla & Alam Al Roum for Urban Development signed an <\/strong><strong>agreement with <\/strong><strong>Palm Hills Developments to develop a 97-feddan mixed-use project in East Cairo<\/strong>, the subsidiary of Saudi Arabia\u2019s Dallah Albaraka Holding said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/1032.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The development will mainly feature residential units with a commercial component to meet rising demand for quality housing in East Cairo.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project is expected to generate around EGP 30 bn in total sales<\/strong>, a source familiar with the matter told EnterpriseAM. The agreement will see Palm Hills receive 70% of the revenues, while Dallah Albaraka will receive the remaining 30%, the source added. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/housing-ministry\/\">Housing Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palm-hills-developments\/\">Palm Hills Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"674030\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"674030\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/concrete-fashion-group-taps-sameh-hedayah-to-head-uae-saudi-arabia-and-oman-operations\/\">\r\n                            Concrete Fashion Group taps Sameh Hedayah to head UAE, Saudi Arabia, and Oman operations                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/concrete-fashion-group-taps-sameh-hedayah-to-head-uae-saudi-arabia-and-oman-operations\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Hedayah has been with the company since 2014, most recently as the company\u2019s head of retail.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hedayah\u2019s appointment comes hot on the heels of Concrete for Ready-Made Garments <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4fc7c18-c9f0-4a39-b448-5649c88b6175\/%253cmark%253econcrete%253c%2Fmark%253e-appoints-matteo-zappala-as-ceo\" style=\"\" rel=\"noopener\">naming Matteo Zappala as its new CEO<\/a><\/strong>, replacing Khalifa, who stepped down on 30 September.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/concrete-fashion-group\/\">Concrete Fashion Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"674032 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"674032\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/674032\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-674032\" class=\"content-area-description single-story post-674032 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.instagram.com\/reel\/DHs9VNZtJeS\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/770.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"674033\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"674033\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/ownership-shakeup-at-coca-cola-beverages-africa\/\">\r\n                            Ownership shakeup at Coca-Cola Beverages Africa                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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src=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1073.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"674034\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/ownership-shakeup-at-coca-cola-beverages-africa\/1073-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1073.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1073.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1073.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1073.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-674033\" class=\"content-area-description single-story post-674033 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-banking tag-central-bank-of-egypt tag-coca-cola tag-cybersecurity tag-debt tag-earnings tag-eastern-company tag-enterpriseam tag-investment-ministry tag-manufacturing tag-metallurgical-industries-holding-company tag-regulation wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.ed425791-6ff7-4936-96f2-66534c801591.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">M&A WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Coca-Cola Beverages Africa sees ownership shakeup:<\/strong> Coca-Cola HBC AG (CCHBC) \u2014 the parent company of Coca-Cola HBC Egypt \u2014 is acquiring a 75% stake in Coca-Cola Beverages Africa (CCBA) in a transaction that values the company at USD 3.4 bn, according to a <a target=\"_blank\" href=\"https:\/\/www.coca-colahellenic.com\/en\/media\/news\/corporate_news\/2025\/the-coca-cola-company-gutsche-family-investments-sell-coca-cola-beverages-africa\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The sellers: <\/strong>The Coca-Cola Company is selling a 41.52% stake \u2014 leaving it with 25% of the company \u2014 and Gutsche Family Investments is selling its entire 33.48% stake. Coca-Cola and the buyer agreed to a separate option agreement for CCHBC to acquire Coca-Cola\u2019s remaining 25% within six years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE EGYPT ANGLE- <\/strong>CCHBC <a target=\"_blank\" href=\"https:\/\/eg.coca-colahellenic.com\/en\/media\/news\/corporate_news\/2022\/cchbc-completes-acquisition-of-a-majority-stake-in-ccbce\" style=\"\" rel=\"noopener\">fully acquired<\/a> the Coca-Cola Bottling Company of Egypt in 2022 in a USD 304 mn transaction. CCHBC is doubling down on the African market with its acquisition of a controlling stake in CCBA. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture: <\/strong>\u201cThe transaction creates the second-largest bottling partner for the caffeinated soft drink by volume and marks another step in which the US firm is moving away from the business of bottling,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-10-21\/two-coca-cola-africa-partners-to-combine-in-2-6-billion-deal\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">BANKING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The central bank instructed banks to verify full payment of deposited <\/strong><strong>capital for <\/strong><strong>company incorporation or capital increases before issuing any deposit certificates<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/1021.pdf\" style=\"\" rel=\"noopener\">circular (pdf)<\/a> sent to banks yesterday. Banks are now barred from releasing funds deposited for company formation until the company is officially registered and its articles of association are approved.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What this means: <\/strong>Banks now have to ensure that the deposited amounts match the capital officially declared in a company\u2019s documents before issuing certificates. The decision aims to prevent potential manipulation or the creation of shell companies based on unverified certificates while providing banks with stronger legal protection by standardizing the issuance process. This also reduces the risk of violating know your customer rules or facilitating the creation of companies for illegal purposes, such as money laundering or tax evasion. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>However, the decision could slightly slow down new company registration processes<\/strong>, particularly in cases requiring a detailed review of capital documents or amendments. On the other hand, it enhances transparency and financial discipline in company formation and boosts local and foreign investor confidence in Egypt\u2019s banking system, as it ensures that declared capital is genuinely deposited and operational. This boosts the credibility of newly registered firms. <\/p>\n<p class=\"tag-border-left\">MANUFACTURING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Egyptian Anode Blocks Company\u2019s Ain Sokhna plant kicked off <\/strong><strong>trial <\/strong><strong>operations following the completion of the first phase of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/95942324-b07d-45ad-990e-0d5ddaca416e\/bonyan-taps-baker-tilly-as-independent-financial-advisor-to-determine-share-fair-value-ahead-of-ipo.-plus:-bp-+-metallurgical-industries-holding-+-egyptian-anode-blocks-company,-amoc\" style=\"\" rel=\"noopener\">rehabilitation<\/a><\/strong>, according to a Public Enterprises Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/%D8%A8%D8%B9%D8%AF-%D8%AA%D9%88%D9%82%D9%81-%D9%84%D8%A3%D9%83%D8%AB%D8%B1-%D9%85%D9%86-%D8%B9%D8%A7%D9%85%D9%8A%D9%86-%D9%88%D8%B2%D9%8A%D8%B1-%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D9%8A%D8%AA%D9%81%D9%82%D8%AF-%D8%A7%D9%84%D8%AA%D8%B4%D8%BA%D9%8A%D9%84-%D8%A7%D9%84%D8%AA%D8%AC%D8%B1%D9%8A%D8%A8%D9%8A-%D9%84%D9%85%D8%B5%D9%86%D8%B9-%D8%A8%D9%84%D9%88\/1369012781935805\/\" style=\"\" rel=\"noopener\">statement<\/a>. The first phase restored 125k tons of annual capacity, with output expected to double upon completing phase two in 1Q 2026. The move is part of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2a7406f7-7bea-4a31-a86c-1a4a67ce6781\" style=\"\" rel=\"noopener\">wider government initiative<\/a> to revive and restructure idle factories.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MARKETING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Ahly signed a EGP 2 bn, three-season sponsorship agreement with <\/strong><strong>Qatar Airways<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2025\/10\/19\/1922943\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing unnamed sources. Al Ahly is prioritizing partnerships with foreign and Gulf companies to secure more hard currency. This comes as the club aims to strengthen its financial position and ability to pay out salaries in foreign currencies while reviewing existing sponsorships set to expire in 2025, according to one of the sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EXPANSION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MCS <\/strong><strong>sets foot in the UAE: <\/strong>Egypt-based IT solutions and cybersecurity company Mideast Communication Systems (MCS) has kicked off UAE operations with the launch of MCS Atlas, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/mcs-launches-mcs-atlas-in-the-gulf-levant-and-eastern-regions-xgaos61y\" style=\"\" rel=\"noopener\">statement<\/a>. The move comes as part of the company\u2019s regional expansion across the Gulf, Levant, and Eastern regions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alaa Bawab (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/alaa-bawab-44a48923\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) will serve as CEO and Managing Partner of the UAE office. <\/strong>He brings to the table over 25 years of experience, most recently as Lenovo\u2019s general manager for infrastructure solutions in the Middle East and Africa. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">STARTUP WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Money Fellows e<\/strong><strong>yes regional expansion: <\/strong>Local fintech startup Money Fellows plans to enter the Moroccan market in 1Q 2026 under a partnership with Attijariwafa Bank and one of Morocco\u2019s sovereign wealth funds, founder and CEO Ahmed Wadi told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2025\/10\/20\/1923117?utm_campaign=nabdapp.com&utm_medium=referral&utm_source=nabdapp.com&ocid=Nabd_App\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The partnership will see the formation of a new Moroccan arm, in which Money Fellows aims to secure a majority stake, Wadi added. The move comes as part of Money Fellows\u2019 plans to expand into four GCC and African markets by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also in the cards: <\/strong>The startup plans to launch a new funding round for raising USD 60\u201380 mn during 2H 2026 to support its expansion strategy, Wadi said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Real estate development company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.inertiaegypt.com\/\" style=\"\" rel=\"noopener\">Inertia Egypt<\/a><\/strong><strong> secured a EGP 5.2 bn <\/strong><strong>shariah-compliant credit facility from a syndicate of state-owned banks<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/1022.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The six-year mudaraba financing package will help fund part of Inertia\u2019s North Coast residential project Jefaira.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who did what? <\/strong>Banque Misr, Banque du Caire, the National Bank of Egypt, Housing and Development Bank, and the Suez Canal Bank all acted as lead arrangers on the agreement. Banque Misr, Banque du Caire, and the National Bank of Egypt also acted as marketers, while Banque Misr served as the facility agent, security agent, and account bank. Matouk Bassiouny & Hennawy provided counsel, Engineering Consultants Group acted as an independent engineering consultant, and Baker Tilly served as a financial advisor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EARNINGS WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eastern Company saw its net income increase 5.8% y-o-y to EGP 9.7 bn in FY <\/strong><strong>2024-2025<\/strong>, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/1043.pdf\" style=\"\" rel=\"noopener\">financial statement (pdf)<\/a>. Net revenues rose 82.8% y-o-y to EGP 37.4 bn during the year, supported by a 27.3% increase in local cigarette sales and a 17.4% rise in exports, according to a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/1052.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> from the board.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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   <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"674035\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"674035\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/the-em-boom-is-here-to-stay\/\">\r\n                            The EM equity + currency boom is here to stay                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    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\n<article id=\"post-674035\" class=\"content-area-description single-story post-674035 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-emerging-markets tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.30baffa3-2de9-407b-a6e7-33584bd86fcf.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Emerging market equities have had a really good 2025 so far \u2014 and they\u2019re on track to<\/strong><strong> keep outperforming well into next year<\/strong>, Goldman Sachs said in a <a target=\"_blank\" href=\"https:\/\/www.goldmansachs.com\/insights\/articles\/emerging-markets-stocks-and-currencies-are-forecast-to-rally?lid=igtegmcusl6j&amp;chl=em&amp;cid=2025-10-17&amp;plt=briefings\" style=\"\" rel=\"noopener\">recent note<\/a>. The MSCI EM index has closed each month this year in the green, and is up c.32% YTD. The index rose 7% in September as the US Federal Reserve cut interest rates for the first time in 2025, \u201ccontributing to a \u2018risk-on\u2019 sentiment as investors sought out assets with higher potential returns relative to safer fixed-income investments.\u201d <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This performance is expected to be sustained over the next 12 months<\/strong>, with Goldman Sachs upgrading its forecast from the index to 1,480 from 1,373 as of 9 October, \u201cimplying 8% price returns from current levels\u201d in USD terms.\u201d The outlook comes as Goldman Sachs expects strong company earnings from emerging markets, which are seen rising 9% this year and 14% in 2026. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bull run comes after a \u201cvery long winter\u201d<\/strong> \u2014 \u201cthe EM trade has not been a good one\u201d since 2009, ABS Global Investments founding partner and portfolio manager Guilherme Ribeiro do Valle <a target=\"_blank\" href=\"https:\/\/www.ai-cio.com\/news\/after-very-long-winter-emerging-markets-may-finally-be-living-up-to-their-potential\/\" style=\"\" rel=\"noopener\">tells CIO<\/a>. Indeed, the EM MSCI index underperformed the MSCI World index by more than 200 percentage points from 2010-2024, Deutsche Bank\u2019s Oliver Harvey wrote for the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/359c54b6-82d0-45b1-985c-5427f062fd42\" style=\"\" rel=\"noopener\">Financial Times<\/a>. Developed markets such as the US, Europe, and Japan, saw a concentration of liquidity during that time on the back of quantitative easing policies, while emerging markets simply were not able to do the same. However, emerging markets have broadly recovered post-covid, with rapid interest rate cuts also supporting structural changes that are now in these markets\u2019 favor. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Even as they outperform, EM equities still boast very attractive valuations.<\/strong> As of last month, EMs \u201cremain deeply undervalued: at 14x forward price-to-earnings, they are 30% cheaper than [developed markets] and a striking 42% cheaper than the US. Add in the low price-to-book ratios and higher dividend yields versus the US, and the case for EMs becomes more compelling,\u201d Eastspring Investments said in a <a target=\"_blank\" href=\"https:\/\/www.eastspring.com\/sg\/insights\/deep-dives\/why-emerging-markets-are-hidden-gems\" style=\"\" rel=\"noopener\">recent report<\/a>. Goldman Sachs sees particular upside in Chinese and Korean equities, while potential reforms that would ease limits on foreign ownerships of listed companies in Saudi Arabia \u201ccould unlock passive inflows up to USD 10 bn\u201d to equities in the Kingdom. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The key drivers of the rally: A weaker USD, and investors trying to diversify away from<\/strong><strong> the US, for the most part.<\/strong> \u201cThe USD plays a crucial role in emerging market trade as the main invoicing currency for imports, and financial systems, with a large share of debt still denominated in it,\u201d Harvey said. The weakening of the USD has therefore helped developing economies improve their current account balance and reduce their external liabilities, Harvey notes, and can \u201cboost flows into EM stocks as investors look for higher returns outside the US,\u201d Goldman Sachs says. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not just equities \u2014 EM currencies are also having their time in the sun:<\/strong> EM currencies are also on a tear, outperforming developed market currencies in September, Goldman Sachs notes. The investment bank sees that performance continuing in the months to come, supported by a strong carry trade, the movement in the USD, and the EM equity boom. <\/p><p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are treading water in early trading this morning, with Japan\u2019s Nikkei leading losses<\/strong> as analyst sentiment remains mixed on the country\u2019s new cabinet \u2014 led by its first-ever woman prime minister \u2014 and export data came in lower than expected. The Hang Seng Index and the Shanghai Composite are also in the red, while the Kospi is trading up so far. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wall Street, meanwhile, looks likely to open flat later today.<\/strong> Futures for the Dow Jones and S&amp;P 500 are marginally in the red, while Nasdaq futures are trading marginally in the green. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">37,698<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +26.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.49<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 47.63<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.50<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 47.60 <\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">21.00% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">22.00% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,546<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: -4.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,121<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +7.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,976<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +15.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,735<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +14.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,427<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +15.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,687<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +16.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 61.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.52<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4,083<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 109,279<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1% (YTD: +16.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P Egypt Sovereign Bond Index<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">949.38<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +22.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P MENA Bond &amp; Sukuk<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">152.05<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +8.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">17.87<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.0%(YTD: +3.0%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 0.7% at yesterday\u2019s close<\/strong> on turnover of EGP 5.9 bn (29.3% above the 90-day average). Local investors were the sole net buyers. The index is up 26.8% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Sidpec (+1.4%), Qalaa Holdings (+1.4%), and Credit Agricole (+1.3%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Beltone Holding (-1.6%), Mopco (-1.6%), and Arabian Cement (-1.5%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Eastern Company\u2019s board proposed distributing a dividend payout of <\/strong><strong>EGP 2.85 per share on its FY 2024-2025 earnings<\/strong>, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/1047.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The plan is pending shareholders\u2019 approval at an upcoming general assembly meeting on 13 November.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Sidpec\u2019 extraordinary general assembly approved increasing the <\/strong><strong>company\u2019s issued and paid-in capital to EGP 2.3 bn<\/strong>, up from EGP 1.8 bn, by issuing 226.8 mn bonus shares at a nominal value of EGP 2.0 each, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/1051.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The increase will be financed from the company\u2019s FY 2024 earnings.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"674037\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">9<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/the-real-estate-market-sees-structural-recovery-driven-by-real-demand-and-new-financing-trends-savills-says\/\"> \r\n                            Egypt\u2019s real estate market sees structural recovery driven by real demand and new financing trends, Savills says<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/the-real-estate-market-sees-structural-recovery-driven-by-real-demand-and-new-financing-trends-savills-says\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The report highlights changing demand patterns, new financing tools, and evolving consumer behavior that are reshaping the market. Signs of steady recovery are emerging amid continued macroeconomic stability, Savills Egypt head Catesby Langer-Paget said during a press conference attended by EnterpriseAM. Savills noted strong investor and developer interest across all asset classes, as the market stabilizes, driven by solid demographic trends and the return of end users as key buyers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The commercial segment remains one of the market\u2019s main growth drivers<\/strong>, with more than 1.1 mn sqm of new supply expected over the next few years, strategic consultancy head Rania Nazmi said. Retail sales in Egypt are expected to grow from USD 149.7 bn in 2025 to USD 201.4 bn by 2030, according to Oxford Economics. The expansion, coupled with the entry of new local and global brands, is intensifying competition and strengthening tenants\u2019 negotiating power, Nazmi added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The market is showing early signs of recovery<\/strong>, helped by new mid-market and GCC retail brands entering Egypt, particularly in F&B. Economic pressures have also helped local brands, many of which started online, expand into physical retail, operations head Sherine Badreldine said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>With supply on the rise, effective property management has become a critical success <\/strong><strong>factor<\/strong>, Badreldine said. Tenants are becoming more selective, often negotiating rent-free periods or landlord contributions to fit-out costs. Downtown Cairo is also regaining its commercial appeal thanks to adaptive reuse projects and government-led renovation efforts, the report said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The residential market remains a key pillar, with sale prices stable in USD despite EGP <\/strong><strong>depreciation<\/strong>. Developers are working to maintain buyer confidence through modest reductions, longer payment plans, and a focus on finished, ready-to-deliver units.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Affordability is the main challenge. <\/strong>The average monthly installment for an apartment priced at EGP 6 mn \u2014 the entry point in new urban communities \u2014 is around EGP 42k, affordable to only 5-10% of Egyptian households, the report noted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The market is gradually moving toward new financing mechanisms such as REITs<\/strong>, which are expected to be formally regulated soon, to widen investor access. Fractional ownership models \u2014 which allow buyers to purchase shares rather than full units \u2014 are also gaining traction, particularly for serviced apartments. Foreign demand is on the rise, supported by property ownership reforms and Egypt\u2019s growing appeal as a secondary home destination, Nazmi said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Branded residences are emerging as one of the fastest-growing subsegments in the <\/strong><strong>market<\/strong>, with Cairo\u2019s supply expected to rise sevenfold by 2031 \u2014 from three operational projects in 2025 to around 22 by the end of the forecast period, Savills said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The expansion is being fueled by the sector\u2019s early-stage potential, strong investor <\/strong><strong>appetite, and new partnerships with luxury hospitality and global design brands<\/strong>, such as Elie Saab, Nazmi said. The trend reflects a shift toward luxury, fully serviced living that blends lifestyle and investment. Still, the segment faces challenges, including blurred definitions \u2014 with some developers conflating serviced apartments with branded residences \u2014 and a limited track record, Nazmi added.<\/p>\n<p class=\"tag-border-left\">HOSPITALITY SECTOR DOUBLES CAPACITY AS OCCUPANCY REBOUNDS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The hospitality sector continues to grow, supported by state plans to double national <\/strong><strong>hotel capacity to 470k keys by 2028<\/strong>, up from 220k currently. Occupancy rates reached 75% in early 2025, signaling renewed investor and traveler confidence in Egypt as a leading tourism destination.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New supply is increasingly catering to a broader traveler base<\/strong>, with growing focus on upper- and midscale brands such as Moxy and Hilton Garden Inn. In Downtown Cairo, historic properties are being converted into lifestyle hotels, including the Shepherd Hotel\u2019s transformation into a Mandarin Oriental and the Tahrir complex into an Autograph Collection property. Still, only around 25% of hotels initially slated to open this year have been delivered due to rising construction costs, Langer-Paget said.<\/p>\n<p class=\"tag-border-left\">ADMINISTRATIVE MARKET SUFFERS FROM SUPPLY AND DEMAND MISMATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The office market continues to face a structural imbalance<\/strong> as developers focus on selling small units to individual investors for faster cashflow, leaving limited options for corporates \u2014 particularly multinationals \u2014 seeking large grade A office spaces, Nazmi said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This gap is opening opportunities for co-working and serviced office operators catering <\/strong><strong>to SMEs and freelancers<\/strong>, Langer-Paget said. There are currently 44 co-working locations across Greater Cairo. REITs could also help plug the gap for large office assets thanks to their ability to acquire income-generating properties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cairo remains highly competitive on pricing<\/strong>, with prime office rents averaging USD 723 per sqm per year \u2014 as opposed to around USD 1.6k in Dubai or Riyadh, according to Savills.<\/p>\n<p class=\"tag-border-left\">EDUCATION, HEALTHCARE FACE STRONG DEMAND BUT LIMITED ACCESS TO FINANCE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s education sector is undergoing structural change fueled by rapid population <\/strong><strong>growth<\/strong>, with students making up more than a third of the population. Despite strong demand and interest from operators to expand, projects remain capital-intensive and face high land and construction costs, as well as long payback periods, Nazmi told EnterpriseAM. A total of 182 new private schools opened during the 2024-25 academic year, mostly in the high-fee bracket, she added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The healthcare market is also expanding<\/strong>, supported by population growth and reforms such as the Universal Healthcare Law. Still, hospital construction remains one of the most expensive real estate investments due to complex technical requirements and land costs. The sector faces shortages of specialized operators and medical professionals, with only 0.7 doctors per 1k people \u2014 among the lowest ratios in the region, Nazmi said. Private healthcare spending is expected to grow at a 10.4% CAGR through 2030. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most efficient model is for developers to build and equip facilities, then sell them to <\/strong><strong>specialized investors<\/strong>, who in turn contract qualified operators \u2014 reducing developers\u2019 exposure to long-term returns, Nazmi told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The real estate market continues to show resilience and evolving fundamentals<\/strong>, Savills executives said. The market is shifting back toward end users and long-term investors after speculative demand cooled during the peak of the EGP\u2019s depreciation. Professional consultancy and asset management are increasingly critical to guiding developers and investors and mitigating risk, Badreldine said. Projects that integrate strong advisory and management practices early on achieve higher occupancy and more consistent performance, reflecting a broader market shift toward long-term value and operational quality.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>State-owned oil and gas contractor Petrojet <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2090ff6d-6d9c-452a-8c20-4b18e0170a0b\/petrojet-secures-usd-1-bn-contract-to-develop-algerian-oil-field\" style=\"\" rel=\"noopener\">was awarded<\/a><\/strong><strong>a USD 1.1 bn <\/strong><strong>contract to develop the second phase of the Hassi Bir Rkaiz field project in Algeria<\/strong>, after competing against major international firms for the project. <\/li>\n<li><strong>The Madbouly government is currently <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/55505fc9-00b3-4e17-ab61-45e414a3da95\/gov%25e2%2580%2599t-wants-to-develop-more-hospitality-projects-through-ppps\" style=\"\" rel=\"noopener\">working to overhaul<\/a><\/strong><strong> the export <\/strong><strong>framework<\/strong> in a bid to develop an integrated export system in line with international best practices. The move aims to streamline export procedures and increase the competitiveness of Egyptian products globally.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/savills\/\">Savills<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"674039\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/674039\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-674039\" class=\"content-area-description single-story post-674039 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">OCTOBER<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">19-22 October (Sunday-Wednesday): Arab African Investment and International Cooperation Summit.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">22 October (Wednesday): Egypt-EU Summit, Brussels, Belgium.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23-25 October (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/stoneafrica.com\/\" style=\"\">Stone Africa Expo<\/a><\/span><span style=\"font-weight:400;\">, Cairo International Conference Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28 October (Tuesday): BEBA\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/beba.org.eg\/events\/a-working-early-dinner-in-conversation-with-h-e-ahmed-kouchouk-minister-of-finance-and-h-e-hassan-el-khatib-minister-of-investment-and-foreign-trade\/\" style=\"\">working dinner<\/a><\/span><span style=\"font-weight:400;\"> with Finance Minister Ahmed Kouchouk and Investment Minister Hassan El Khatib.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>October: The third iteration of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/exportsmart.net\/\" style=\"\">Export Smart<\/a><\/span><span style=\"font-weight:400;\"> Exhibition and Conference.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>October: The tenth <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/MOICEgypt\/posts\/pfbid05bMNdJYwy1V5V4QdfixntScePvj4CxXBPKj3CmkDgJvetAX3bn75ZUes162Un6dKl\" style=\"\">session<\/a><\/span><span style=\"font-weight:400;\"> of the Egyptian-Lebanese Joint Higher Committee.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Mid-October:  Capmas to publish the findings of its 2023-2024 income and expenditure survey.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">NOVEMBER<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 November (Saturday): The official opening of the Grand Egyptian Museum.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">3 November (Monday): S&P Global to release PMI data for September.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-11 November (Sunday-Tuesday): The sixth edition of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/trans-mea.com\/about\" style=\"\">TransMEA 2025<\/a><\/span><span style=\"font-weight:400;\"> forum and exhibition, Egypt International Exhibition Center. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10 November (Monday): Capmas expected to release inflation data for October.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-19 November (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/cairoict.com\/\" style=\"\">Cairo ICT 2025<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 November (Thursday): Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23-25 November (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/nebugoldexpo.com\/\" style=\"\">NEBU Expo 2025 gold and jewelry exhibition<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibitions Center, New Cairo. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">November: Egypt to join the EU\u2019s Horizon Europe research and innovation program.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">November: The Conference on Early Recovery, Reconstruction, and Development in Gaza.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-4 December: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyptdefenceexpo.com\/\" style=\"\">Egypt Defence Expo<\/a><\/span><span style=\"font-weight:400;\"> (Monday-Thursday), Egypt International Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 December (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/egystitchandtex.com\/garments\/\" style=\"\">Egy Stitch & Tex Expo 2025<\/a><\/span><span style=\"font-weight:400;\">, Cairo International Conference Center. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15 December (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dfp.global\/#conference\" style=\"\">Neo Gen PropTech and Sustainable Smart Cities Conference<\/a><\/span><span style=\"font-weight:400;\">, The St. Regis Hotel New Capital<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25 December: (Thursday): Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Mid-2025: EGX launches sustainability index.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">December: Germany\u2019s North Rhine-Westphala business delegation to land in Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">3Q 2025: Nasr Automotive begins locally manufacturing passenger cars.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">3Q 2025: Polaris Parks to finalize contracts for two new industrial zones in the new capital and Sadat City.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Mid-2025: The Administrative Capital for Urban Developments to roll out the second phase of offering industrial plots to investors <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2025: Potential visit by Chinese President Xi Jinping to Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4Q 2025: The beginning of construction works on China\u2019s State Grid two solar projects.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4Q 2025: GB Auto starts assembling one of China\u2019s Great Wall Motor models in 4Q 2025.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4Q 2025-1Q 2026: Kasrawy Group to launch first <\/span><span>Avatr<\/span><span style=\"font-weight:400;\"> EV models in Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2025: The InterAcademy Partnership assembly.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2025: Nile Basin States Summit, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2025: Release of the government\u2019s Startup Charter document. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Before 2025-end: The government will launch two ro-ro shipping lines with Saudi Arabia and Turkey.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Early 2026:<\/span><span style=\"font-weight:400;\"> Passenger operations on the New Administrative Capital\u2013Nasr City monorail scheduled to begin.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">1Q 2026: <\/span><span style=\"font-weight:400;\">Trial operations for the Ain Sokhna\u2013Sixth of October section of Egypt\u2019s first high-speed rail line scheduled to begin.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 January: European Union\u2019s Carbon Border Adjustment Mechanism (CBAM) to fully come into effect.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-12 February (Tuesday-Thursday): Gitex Global\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/share\/p\/1QkF8DUZBj\/\" style=\"\">AI Everything Middle East & Africa<\/a><\/span><span style=\"font-weight:400;\"> Summit <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 March 2026: IMF to hold its seventh review of Egypt\u2019s USD 8 bn EFF arrangement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">May 2026: End of extension for developers on 15% interest rates for land installment payments <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September 2026: IMF to hold its eighth review of Egypt\u2019s USD 8 bn EFF arrangement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2026: Operations at Deli Glass Co\u2019s new USD 70 mn glassware factory kick off.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 January-7 February: Egypt to host the African Games.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>April 2027: Tenth of Ramadan <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8320d4df-e1a7-405e-be07-08e6590aff0e\/\" style=\"\">dry port and logistics hub<\/a><\/span><span style=\"font-weight:400;\"> to begin operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2027: Egypt to host EBRD\u2019s annual meetings for 2027.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">September 2028: First unit of the Dabaa nuclear power plant begins operations.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>El Sisi in Brussels | Fresh mortgage financing initiative | What\u2019s driving real estate recovery?<\/p>\n","protected":false},"featured_media":674016,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-674015","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"6dee391e-7228-41f0-9824-49a5502f04ec","teaser":"El Sisi in Brussels | Fresh mortgage financing initiative | What\u2019s driving real estate recovery?","photo_url":"https:\/\/ent.news\/2025\/10\/1080.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>IMF now sees the economy growing 4.5% this fiscal year - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-now-sees-the-economy-growing-4-5-this-fiscal-year\/\" \/>\n<meta property=\"og:locale\" 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