{"id":684863,"date":"2026-02-04T00:00:00","date_gmt":"2026-02-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/04\/serenity-commits-egp-5-bn-to-professionalizing-the-egyptian-afterlife\/"},"modified":"2026-02-04T00:00:00","modified_gmt":"2026-02-04T00:00:00","slug":"serenity-commits-egp-5-bn-to-professionalizing-the-egyptian-afterlife","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/04\/serenity-commits-egp-5-bn-to-professionalizing-the-egyptian-afterlife\/","title":{"rendered":"Serenity commits EGP 5 bn to professionalizing the Egyptian afterlife"},"content":{"rendered":"

\n

Serenity commits EGP 5 bn to professionalize the Egyptian afterlife<\/p>\n

Serenity for Investment and Real Estate Management broke ground on its first project, Serene<\/strong>, a 58-feddan memorial garden project in the New Capital, according to a state<\/a>ment (pdf)<\/a> from the company. With an estimated phase-one investment of EGP 5 bn, the project marks the debut of Egypt\u2019s first developer specialized exclusively in the burial sector, Chairman Shamel Aboul Fadl tells EnterpriseAM.<\/p>\n

At present, visiting loved ones for many Egyptians is \u201cdaunting and such a difficult <\/strong>experience to live through<\/strong>,\u201d Aboul Fadl said, pointing to the often unkept, unsecured, and littered state of many cemeteries today. \u201cIt was always in the back of my mind: why do we have to live through that experience instead of celebrating loved ones?\u201d<\/p>\n

Serenity is looking to fix this by redefining \u201cthe concept of cemeteries in Egypt <\/strong>through a well-organized, dignified, and contemporary framework\u201d and a primary focus on visitation, according to the statement. The in-the-works memorial ground will include landscaped green spaces, round-the-clock security, designated parking, a mosque, and an administrative unit to run the site and facilitate visits.<\/p>\n

What\u2019s next? <\/strong>The planned phase one launch in 1Q 2026 will just be the beginning, with the pilot project marking the \u201cstart of redefining the space,\u201d Aboul Fadl tells us. While Egypt is Serenity\u2019s main focus today \u2014 and burial customs vary across the region \u2014 the company could potentially eye regional expansion in the future, \u201cas there\u2019s always room for improvement,\u201d he added.<\/p>\n

\n

Planned shutdown and margins drop weigh on Qalaa Holdings\u2019 top line in 2Q 2025<\/p>\n

Qalaa Ho<\/strong>ldings\u2019 revenue fell 34% y-o-y to EGP 25.1 bn in 2Q 2025<\/strong>, according to the company\u2019s latest earnings release (pdf)<\/a>. Meanwhile, the company\u2019s bottom line showed a net loss of EGP 1.2 bn for the quarter, narrowing from the EGP 1.4 bn loss recorded in 2Q 2024.<\/p>\n

Driving the fall in the company\u2019s top line was a drop in its subsidiary Egyptian Refining <\/strong>Company\u2019s (ERC) USD-denominated revenues<\/strong>, which fell 42% y-o-y to EGP 20.0 bn, caused by \u201ca 32-day pre-planned production shutdown for maintenance, as well as the decline in refining margins.\u201d<\/p>\n

When excluding ERC\u2019s revenues, Qalaa\u2019s top line grew 48% y-o-y to EGP 5.1<\/strong> bn during the quarter<\/strong>, as the rest of its portfolio companies saw \u201csolid growth.\u201d<\/p>\n

\n

EBank completes EGP 3.8 bn tourism asset divestment<\/p>\n

EBank finalized a EGP 3.8 bn sale of tourism holdings<\/strong>, with proceeds received in full, according to an EGX disclosure (pdf)<\/a>. The divestment was executed through its subsidiaries Egypt Capital Holding and El Masry Real Estate Investments, which exited their entire stakes in Egyptian Tourism Development and Tourism Investments in Sahl Hasheesh.<\/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","protected":false},"excerpt":{"rendered":"

Plus: Qalaa reports 2Q earnings, EBank completes EGP 3.8 bn tourism divestment<\/p>\n","protected":false},"author":1,"featured_media":684864,"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":[111,409,1909,72,7111,613,83,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-684863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-earnings-watch","tag-ebank","tag-enterpriseam","tag-infrastructure","tag-qalaa-holdings","tag-real-estate","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"36c06630-ae55-4f2f-9efd-65ee3bf55c76","order":"11","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/2\/285.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Serenity commits EGP 5 bn to professionalizing the Egyptian afterlife","related_issue":[684845],"teaser":"Plus: Qalaa reports 2Q earnings, EBank completes EGP 3.8 bn tourism divestment"},"yoast_head":"\nSerenity commits EGP 5 bn to professionalizing the Egyptian afterlife - 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Revenues jumped 25% y-o-y to EGP 13.17 bn during the year, up from EGP 10.55 bn in 2017,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":700992,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/11\/andalusia-health-gets-a-booster-shot-from-banque-misr\/","url_meta":{"origin":684863,"position":1},"title":"Andalusia Health gets a booster shot from Banque Misr","author":"enterpriseam admin","date":"11 May 2026","format":false,"excerpt":"Plus: PickAlbatros revealed as buyer of EGP 3.8 bn Sahl Hasheesh asset","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1480.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":586626,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/15\/qalaa-revenues-more-than-double-in-2022-on-record-refining-margins-plus-cib-ode-report-1q23-earnings\/","url_meta":{"origin":684863,"position":2},"title":"Qalaa revenues more than double in 2022 on record refining margins. PLUS: CIB, ODE report 1Q23 earnings","author":"enterpriseam admin","date":"15 May 2023","format":false,"excerpt":"High oil prices fueled a 162% rise in revenues at the Egyptian Refining Company","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/778.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546194,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/08\/qalaa-losses-narrow-in-2021\/","url_meta":{"origin":684863,"position":3},"title":"Qalaa losses narrow in 2021","author":"enterpriseam admin","date":"8 May 2022","format":false,"excerpt":"Rising revenues helped Qalaa Holdings to narrow its losses to EGP 2.3 bn in 2021 from EGP 2.6 bn the year before, according to the company\u2019s full year earnings release (pdf). Revenues rose 27% y-o-y to EGP 45.8 bn during the 12-month period on higher commodity prices and improved refining\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598561,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/el-attal-to-break-ground-on-egp-2-5-bn-tourism-project-in-el-galala-in-4q2019\/","url_meta":{"origin":684863,"position":4},"title":"El Attal to break ground on EGP 2.5 bn tourism project in El Galala in 4Q2019","author":"enterpriseam admin","date":"28 May 2019","format":false,"excerpt":"Real estate player El Attal Holding will break ground on its planned tourism project in El Galala, Ain Sokhna in 4Q2019, Chairman Ahmed El Attal said. The project, which El Attal announced in earlier press statements, will come at an investment cost of EGP 2.5 bn.","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":596632,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/03\/earnings-watch-qalaa-holdings-revenues-rise-13-y-o-y-in-1q2019-to-egp-3-4-bn\/","url_meta":{"origin":684863,"position":5},"title":"EARNINGS WATCH- Qalaa Holdings\u2019 revenues rise 13% y-o-y in 1Q2019 to EGP 3.4 bn","author":"enterpriseam admin","date":"3 July 2019","format":false,"excerpt":"EARNINGS WATCH- Qalaa Holdings revenues rise 13%, losses narrow to EGP 154.6 mn: Qalaa Holdings\u2019 revenues rose 13% y-o-y in 1Q2019 to EGP 3.4 bn \u201con the back of robust results posted across its subsidiaries,\u201d the company said in its earnings release (pdf). The company singled out its energy platform,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/684863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=684863"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/684863\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/684845"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/684864"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=684863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=684863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=684863"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=684863"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=684863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}