{"id":659862,"date":"2025-02-03T00:00:00","date_gmt":"2025-02-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/03\/marakez-unveils-new-hotel-in-district-5-urbane\/"},"modified":"2025-02-03T00:00:00","modified_gmt":"2025-02-03T00:00:00","slug":"marakez-unveils-new-hotel-in-district-5-urbane","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/03\/marakez-unveils-new-hotel-in-district-5-urbane\/","title":{"rendered":"Marakez unveils new hotel in District 5 \u2014 Urbane"},"content":{"rendered":"

!_ImageURLWeb_! https:\/\/ent.news\/2025\/2\/151.jpg<\/p>\n

HOSPITALITY- <\/p>\n

Our friend<\/strong>s at <\/strong>real estate developer <\/strong>Marakez<\/a><\/strong> signed an agreement with <\/strong>Credence<\/a><\/strong>Hospitality Developments<\/a><\/strong> to develop and operate Urbane<\/strong>, a new urban business hotel in New Cairo\u2019s District 5, according to a press release (pdf)<\/a>. The 100-key project will include \u201cstate-of-the-art meeting rooms, a conference hall, a rooftop restaurant, retail outlets, a spa, and outdoor sports facilities.\u201d The project is slated to open in early 2027.<\/p>\n

(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

DIPLOMACY- <\/p>\n

Madbouly, UAE ministers<\/strong> discuss joint projects:<\/strong> Prime Minister Moustafa Madbouly met with the Emirati minister of industry and investment to review progress on joint projects, including the industrial projects being set up in Ras El Hekma, according to a statement<\/a>. The discussion also covered the latest on joint energy, data centers, and renewable energy projects, as well as airport management. <\/p>\n

\n

POLICY-<\/p>\n

The Political Affairs Committee held its first meeting yesterday<\/strong>, which saw its members \u2014 headed by Prime Minister Moustafa Madbouly \u2014 discuss regional developments and national security concerns, according to a cabinet statement<\/a>. The discussion covered Egypt\u2019s diplomatic efforts, including President Abdel Fattah El Sisi\u2019s phone call<\/a> with US President Donald Trump and the ministerial meeting<\/a> on Palestine Egypt hosted over the weekend. <\/p>\n

Political Affairs Committee? <\/strong>The committee is one of six newly-formed advisory committees that will work to ensure continued and deepened communication between policymakers and the private sector as the state pushes its reform drive into the new year. We put together a rundown of the committees and their members after the news broke last week. Read the story here<\/a>.<\/p>\n

\n

ENERGY-<\/p>\n

The Oil Ministry increased<\/strong> natural gas supplies allocated for the industrial sector by 10% <\/strong>in 1H 2025<\/strong>, an unnamed government official told Al Arabiya<\/a>. The notoriously energy-intensive sector \u2014 accounting for around a quarter of the country\u2019s gas use \u2014 draws around 1.6 bn cubic feet of gas per day, according to the source.<\/p>\n

Export-orientated industries are prioritized for receiving gas supplies<\/strong>, with industries like petrochemicals that open up FX revenues reportedly being at the front of the line.<\/p>\n

\n

INVESTMENT-<\/p>\n

Ugreen steps foot into Egypt: <\/strong>Electronics and mobile accessories manufacturer Ugreen, in collaboration with Blooms Group, has officially launched in Egypt with a USD 5 mn investment, according to a statement (pdf)<\/a>. The company will offer a range of power banks and audio devices, with more devices to be introduced later this year.<\/p>\n

\n

MANUFACTURING-<\/p>\n

Fresh <\/strong>has three new component factories in the pipeline: <\/strong>Home appliance manufacturer Fresh is planning to set up three component manufacturing plants with combined investments exceeding EGP 200 mn, Al Borsa<\/a> reports. The company expects to have the factories up and running next year. <\/p>\n

\n

DEBT-<\/p>\n

Agrana Nile Fruits secur<\/strong>es EUR 3 mn loan from EBRD:<\/strong> Agrana Nile Fruits<\/a>, a JV between Austrian food company Agrana<\/a> and the UAE\u2019s Naama Investment Holding<\/a>, secured a senior unsecured loan of up to EUR 3 mn from the European Bank for Reconstruction and Development (EBRD), according to a bank website<\/a>. The funds will be used to finance a new production line and refurbish the company\u2019s Obour City factory, increasing annual production capacity and expanding its export base.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS- The Political Affairs Committee held its first meeting yesterday<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,7106,571,93,72,955,7196,895,91,100],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-659862","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-debt","tag-ebrd","tag-energy","tag-enterpriseam","tag-hospitality","tag-industry","tag-marakez","tag-oil-and-gas","tag-policy","wpautop","entry"],"acf":{"mongo_id":"ad335abd-3e25-4c0e-a993-8d40b93549b7","order":"13","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"Marakez unveils new hotel in District 5 \u2014 Urbane","related_issue":[659839],"teaser":"PLUS- The Political Affairs Committee held its first meeting yesterday","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.fd7e5522-9553-402c-b1c3-f6290840cb83.mp3"},"yoast_head":"\nMarakez unveils new hotel in District 5 \u2014 Urbane - 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The EGP 1 bn complex spans 33 acres and will house 140 shops, 30 restaurants and cafes, and a cinema. 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Marakez had previously said it plans to invest EGP\u2026","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592939,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/12\/marakez-signs-egp-395-mn-loan-with-emirates-nbd-egypt-for-new-ikea-store\/","url_meta":{"origin":659862,"position":2},"title":"Marakez signs EGP 395 mn loan with Emirates NBD Egypt for new Ikea store","author":"enterpriseam admin","date":"12 November 2019","format":false,"excerpt":"Fawaz AlHokair Group\u2019s Marakez has signed a EGP 395 mn long-term loan agreement with Emirates NBD Egypt to finance a 20k sqm Ikea store at Mall of Arabia, NBD corporate banking head Amr Azab said. Marakez inked a long-term lease agreement last December with Al Futtaim Misr for Retail, which\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594565,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/01\/marakez-signs-egp-1-5-bn-syndicated-loan-for-mall-of-katameya-construction\/","url_meta":{"origin":659862,"position":3},"title":"Marakez signs EGP 1.5 bn syndicated loan for Mall of Katameya construction","author":"enterpriseam admin","date":"1 September 2019","format":false,"excerpt":"Mall developer Marakez has signed a EGP 1.5 bn syndicated loan agreement to finance the first phase of its planned Mall of Katameya in east Cairo, according to an emailed statement (pdf). The lending banks are Banque Misr, Banque du Caire, the Arab African International Bank, Misr Iran Development Bank,\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573617,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/11\/marakez-signs-egp-670-loan-agreement-with-local-banks-for-mall-of-katameya\/","url_meta":{"origin":659862,"position":4},"title":"Marakez signs EGP 670 loan agreement with local banks for Mall of Katameya","author":"enterpriseam admin","date":"11 August 2020","format":false,"excerpt":"Fawaz AlHokair Group\u2019s mall development company Marakez has signed a EGP 670 mn syndicated loan agreement with local banks to finance phase two of Mall of Katameya in east Cairo. 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The mall will feature both open-air areas and retail stores. 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