{"id":640489,"date":"2024-08-27T00:00:00","date_gmt":"2024-08-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/27\/govt-offers-up-seven-airport-investments\/"},"modified":"2024-08-27T00:00:00","modified_gmt":"2024-08-27T00:00:00","slug":"govt-offers-up-seven-airport-investments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/27\/govt-offers-up-seven-airport-investments\/","title":{"rendered":"Gov\u2019t offers up seven airport investments"},"content":{"rendered":"

Good morning, <\/strong>all, and happy hump day. <\/strong>It\u2019s another relatively quiet day in local business news as we hit the midpoint of the workweek. Today\u2019s issue may not be the busiest we\u2019ve ever had, but we have picked up some must-know IMF updates, M&A news, the latest on upcoming school fee hikes, and much more for you this morning. <\/p>\n

PSA-<\/p>\n

WEATHER- It\u2019s another warm one in Cairo today<\/strong>, with a high of 36\u00b0C and a low of 27\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s only a tad cooler in Alexandria and along the North Coast<\/strong>, with a high of 33\u00b0C and a low of 23\u00b0C.<\/p>\n

** DID YOU KNOW that we now cover <\/strong>Saudi Arabia<\/a><\/strong> and the <\/strong>UAE<\/a><\/strong>?<\/strong><\/p>\n

** Were you forwarded this email?<\/strong> Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a> #1- Tourism authority offers grace period to land buyers to encourage investment:<\/strong> The Tourism Development Authority<\/a> (TDA) will waive late payment penalties on land purchases for tourism development and investment companies that fully pay their installments by 31 August, 2025, according to a statement<\/a> from the Housing Ministry. To demonstrate commitment, companies must make a 10% down payment on their installments by 31 October, 2024. The move is part of a set of measures aimed at supporting investors in the tourism sector.<\/p>\n

Projects in Taba and Ras Sidr in particular are getting a helping hand:<\/strong> The TDA has also decided to offer development and investment companies in Sinai\u2019s Taba and Ras Sidr a two-year extension of their project implementation deadlines and other measures in light of current geopolitical difficulties.<\/p>\n

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<\/a> #2- GAFI draws up country-wide plan to boost investments:<\/strong> The General Authority for Investment and Free Zones (GAFI) and representatives of all governorates are set to form a permanent joint committee to promote and facilitate investments across the country, according to a statement<\/a> by GAFI. The committee will work to update the country\u2019s investment opportunities and development-ready pieces of land on its Invest in Egypt<\/a> online database.<\/p>\n

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<\/a> #3- A handful of airport investments are up for grabs: <\/strong>The government is offering seven investment projects at a number of airports across the country, Asharq Business<\/a> reports, citing government data. Here\u2019s the rundown:<\/p>\n