{"id":666335,"date":"2025-06-02T00:00:00","date_gmt":"2025-06-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/02\/sky-ad-to-develop-a-430-feddan-plot-in-ras-el-hekma\/"},"modified":"2025-06-02T00:00:00","modified_gmt":"2025-06-02T00:00:00","slug":"sky-ad-to-develop-a-430-feddan-plot-in-ras-el-hekma","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/02\/sky-ad-to-develop-a-430-feddan-plot-in-ras-el-hekma\/","title":{"rendered":"Sky AD to develop a 430-feddan plot in Ras El Hekma"},"content":{"rendered":"

REAL ESTATE- <\/p>\n

Sky A<\/strong>D <\/strong>has a Ras El Hekma project in the works:<\/strong> Emirati real estate developer Sky<\/a>Abu<\/a>Dhabi<\/a> (Sky AD) will develop a 430-feddan plot in Ras El Hekma that will feature a fully integrated residential and tourism project, the company said in a statement (pdf)<\/a>. The developer is targeting EGP 240 bn in sales from the project.<\/p>\n

REMEMBER-<\/strong> Last July, the real estate developer said that it was in talks with the Madbouly<\/a>government<\/a> over a 200-600 acres plot in the North Coast. <\/p>\n

\n

EXPANSION-<\/p>\n

#1- <\/strong>Giza Systems eyes GCC expansion:<\/strong> Giza Systems is planning to expand into Oman, Bahrain, and the UAE by forging local and global partnerships, according to a statement (pdf)<\/a> from the company. The company is also planning to expand in high-growth sectors, including fintech, smart cities, AI-powered video analytics, cloud services, and cybersecurity.<\/p>\n

ICYMI- <\/strong>The tech consultancy firm launched to launch a global delivery center in Egypt<\/a>yesterday<\/a> that will begin operating with several hundred employees, before scaling up its operations and employee headcount.<\/p>\n

\n

\n

#2- Premium Healthcare subsidiary <\/strong>Saudi Egyptian Company for Medical Laboratories <\/strong>readies diagnostic radiology investment: <\/strong>Saudi firm Saudi Egyptian Company for Medical Laboratories \u2014 which Premium Healthcare owns 50% of \u2014 plans to invest SAR 40 mn this year as part of its expansion into diagnostic radiology, according to an EGX disclosure (pdf)<\/a>.<\/p>\n

ICYMI- <\/strong>Premium Healthcare acquired<\/a> a 50% stake in Saudi Egyptian Company for Medical Laboratories in a EGP 1.3 mn transaction last year.<\/p>\n

\n

DIPLOMACY-<\/p>\n

Egypt, US discuss Gaza ceasefire talks:<\/strong> Foreign Minister Badr Abdelatty received a call from US top Middle East envoy Steve Witkoff to discuss ongoing coordination on Gaza and broader regional developments, according to a Foreign Ministry statement<\/a>. Talks focused on joint Egypt-US-Qatar efforts to broker a ceasefire in Gaza that would include a hostage and prisoner swap and the full entry of humanitarian aid. Abdelatty reiterated the urgency of ending the war and easing Palestinian suffering, while also calling for a permanent resolution to the Israeli-Palestinian conflict. <\/p>\n

The call also touched on US-Iran nuclear talks,<\/strong> with Abdelatty voicing Cairo\u2019s support for efforts to deescalate tensions and avoid regional instability. <\/p>\n

\n

DEBT-<\/p>\n

EBRD mulls<\/strong> loan for wind power project:<\/strong> The European Bank for Reconstruction and Development (EBRD) is looking into extending an undisclosed loan to support the construction and operation of a 200 MW wind power project in Egypt, according to the project summary<\/a> on the multilateral lender\u2019s website. The project will supply electricity to a green ammonia facility that includes a 100 MW electrolyser, as well as a 70 MW solar plant.<\/p>\n

What green ammonia facility? <\/strong>The renewable project will power Scatec ASA\u2019s Egypt Green<\/a>Hydrogen project<\/a>, which is being set up in partnership with Fertiglobe, Orascom Construction, the Sovereign Fund of Egypt, and the Egyptian Electricity Transmission Company.<\/p>\n

\n

AUTOMOTIVE-<\/p>\n

Jinbei Royal<\/strong> to invest EGP 150 mn in local microbus assembly plant: <\/strong>The country\u2019s exclusive agent for China\u2019s Jinbei, Jinbei Royal Egypt, is planning to invest EGP 150 mn to build an assembly plant for Jinbei-branded microbuses in 2026, Chairman Khaled Saad told Al Borsa<\/a>. The company will begin local assembly in 4Q 2025 at a temporary facility in Sixth of October City until the new plant is completed.<\/p>\n

The details: <\/strong>The company will initially operate a single production line with a capacity of 3k cargo and passenger microbuses, with plans to increase output to 10k units within three years by adding two to three more production lines.<\/p>\n

\n

RETAIL-<\/p>\n

Abu Auf taps <\/strong>into on-the-go snacking: <\/strong>Homegrown snackmaker AbU Auf launched a new quick-service retail concept called To Go as part of its domestic expansion strategy, according to a statement<\/a>. The new format is designed to cater to fast-moving consumers with a selection of AbU Auf\u2019s coffee and sweet and savory snacks, targeting students, gym-goers, office workers, and anyone on the move. The company plans to open 20 To Go outlets in 2025 and add another 50 branches in 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"

The real estate said last year that it was in talks with the government over a 200-600 acres plot in the North Coast<\/p>\n","protected":false},"author":1,"featured_media":666336,"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":[1709,111,144,168,571,72,564,390,932,7111,6984,427,404,7388,83,338,991,123,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-666335","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-abu-auf","tag-also-on-our-radar","tag-automotive","tag-diplomacy","tag-ebrd","tag-enterpriseam","tag-food","tag-foreign-ministry","tag-giza-systems","tag-infrastructure","tag-middle-east-politics","tag-pharma","tag-public-private-partnership","tag-ras-el-hekma","tag-real-estate","tag-retail","tag-sme-development-authority","tag-startups","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"9bdb707b-60b2-4193-b0d7-4eea0d548499","order":"12","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/1396.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Sky AD to develop a 430-feddan plot in Ras El Hekma. 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