{"id":685164,"date":"2026-02-10T00:00:00","date_gmt":"2026-02-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/10\/tatweer-masr-to-put-egp-50-bn-into-sokhnas-shift-into-a-year-round-business-hub\/"},"modified":"2026-02-10T00:00:00","modified_gmt":"2026-02-10T00:00:00","slug":"tatweer-masr-to-put-egp-50-bn-into-sokhnas-shift-into-a-year-round-business-hub","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/10\/tatweer-masr-to-put-egp-50-bn-into-sokhnas-shift-into-a-year-round-business-hub\/","title":{"rendered":"Tatweer Masr to put EGP 50 bn into Sokhna\u2019s shift into a year-round business hub"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">!_Subhead_! <strong>Tatweer Misr launches EGP 50 bn Il Monte Galala Towers & Marina in Sokhna<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong><a target=\"_blank\" href=\"https:\/\/tatweermisr.com\/\" style=\"\" rel=\"noopener\">Tatweer Misr<\/a><\/strong><strong> is stepping up its wager on Ain Sokhna as a year-round<\/strong><strong> destination with the launch of its EGP 50 bn Il Monte Galala Towers & Marina<\/strong>, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02E2aEyC9pGqfTGgUrdhKxQDTe8Rix1F1UvozZvYkwuccKPn8kJr8FySfpwQjxeXTNl\" style=\"\" rel=\"noopener\">statement<\/a>. The project, which officially broke ground yesterday, marks a strategic shift for the developer as it moves beyond traditional residential sales into higher-yield, specialized tourism developments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Designed to maximize the value on the rugged Galala terrain, the project adopts a vertical, skyscraper-led model comprising 10 mixed-use towers with around 2.6k residential and hotel units within a total built-up area of 470k sqm. Construction is set to begin in 2H, with the seven-year master plan built around a smart, sustainable coastal city concept targeting international business travelers and luxury yachting demand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A trio of global heavyweights will manage the project:<\/strong><\/p>\n<ul>\n<li><strong>Maritime:<\/strong> The US-based <a target=\"_blank\" href=\"https:\/\/www.igymarinas.com\/\" style=\"\" rel=\"noopener\">IGY Marinas<\/a> will oversee a 150+ yacht marina;<\/li>\n<li><strong>Business tourism:<\/strong> The UK\u2019s <a target=\"_blank\" href=\"https:\/\/www.bci-realty.info\/\" style=\"\" rel=\"noopener\">BCI Realty<\/a> will manage the 28k sqm global exhibition and convention center, aimed at positioning Sokhna as a regional business events hub;<\/li>\n<li><strong>Infrastructure:<\/strong> France\u2019s <a target=\"_blank\" href=\"https:\/\/www.se.com\/ww\/en\/\" style=\"\" rel=\"noopener\">Schneider Electric<\/a> will deliver smart infrastructure and energy management systems, with Orange Egypt providing digital infrastructure.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Pharco sells minority stake in Saudi arm to the UK-based Ashmore<\/p>\n<p><strong>Local pharma player Pharco Pharma sold a minority stake in its Saudi arm to London-based investment manager Ashmore<\/strong> through a primary capital increase, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/610.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The transaction marks the inaugural investment under the Ashmore Saudi Industrial Fund and was anchored by the Saudi Investment Company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Our friends at EFG Hermes acted as the sole financial advisors on the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cThis transaction highlights the growing [potential] for deeper integration between Egypt, Saudi Arabia, and the wider region,\u201d Co-Head of Investment Banking at EFG Hermes Maged El Ayouti said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Pharco is opening its first plant in Saudi Arabia by 2027<\/strong>, marking its first industrial foray beyond Egypt, CEO Sherine Helmy told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/118711\/%D9%81%D8%A7%D8%B1%D9%83%D9%88-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%B4%D8%BA%D9%84-%D8%A3%D9%88%D9%84-%D9%85%D8%B5%D8%A7%D9%86%D8%B9%D9%87%D8%A7-%D9%84%D9%84%D8%A3%D8%AF%D9%88%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AE%D9%84%D8%A7%D9%842027\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The first phase of manufacturing in the Kingdom will focus on solid pharma forms, which represent roughly 70% of market demand. The facility plans to later expand production into biological drugs, vaccines, and other specialized treatments, Helmy 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\">CIB posts strong 2025 results<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EGX30 bellwether <\/strong><strong>CIB <\/strong><strong>closed 2025 with EGP 82.2 mn in net income<\/strong>, up 49% y-o-y. The bank\u2019s release of provisions padded the bottom line on what was already a very good year for the private-sector stalwart. CIB released provisions after recalibrating its expected credit loss model. Strip out the provisions it released, and net income was still up a healthy 28% \u2014 CBE rules mean that the extra cash doesn\u2019t count toward CIB\u2019s capital base or as distributable earnings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For 4Q<\/strong>, net income was up 57% y-o-y to EGP 20.1 bn, the bank said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/615.pdf\" style=\"\" rel=\"noopener\">earnings release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/615.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. Revenues came in at EGP 33.7 bn for the quarter, up 25% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The margin performance is perhaps most impressive:<\/strong> CIB held its net interest margin \u2014 NIM, in industry-speak \u2014 at 8.95%, a compression of just 53 bps despite 725 bps in policy rate cuts throughout the year. The bank biased its deposit mix toward less-expensive (for the bank) current and savings account deposits, which stood at 61%, up from 56%. Total deposits were up 14% y-o-y at EGP 1.1 tn at year-end.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Loan growth was strong: <\/strong>Gross loans were up 44% to EGP 576 bn, with local currency lending up 56%. Loans to corporations grew 45%. The interesting signal here: 55% of borrowing was to support capex \u2014 suggesting some companies are investing in growth even at what remain credit-card interest rates.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other highlights:<\/strong> CIB has applied for a license to operate a digital bank here at home, and its outpost in Kenya turned a before-tax income for the first time since acquisition.<\/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\">Cr\u00e9dit Agricole\u2019s net income falls 13% y-o-y in 2025<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cr\u00e9dit Agricole Egypt<\/strong> <strong>saw its net income fall 13% y-o-y to EGP 6.9 bn in 2025<\/strong>, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/582.pdf\" style=\"\" rel=\"noopener\">financials (pdf)<\/a>. The decline was largely due to a tough base effect from exceptional FX income booked in 1Q 2024 following the March 2024 float, which inflated last year\u2019s results. With that one-off absent, profitability normalized in 2025 despite solid balance sheet growth. Commercial growth remained strong, with gross loans up 22% y-o-y to EGP 67.5 bn and customer deposits rising 15% to EGP 110.2 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What weighed on earnings: <\/strong>Net banking income fell 5% y-o-y to EGP 13.1 bn, mainly reflecting a sharp 45% drop in other operating income as FX-related gains faded. Net interest income slipped 2% y-o-y amid interest rate cuts and a higher cost of funds, while fees and commissions rose 12% on the back of stronger customer activity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAK<\/strong><strong>ING OF CR<\/strong><strong>\u00c9<\/strong><strong>DIT AGRICOLE- <\/strong><strong>The<\/strong> <strong>Central Bank of Egypt hit the lender with a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/fintechgate.net\/2026\/02\/09\/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%8A%D9%81%D8%B1%D8%B6-%D8%BA%D8%B1%D8%A7%D9%85%D8%A9-2-1-%D9%85%D9%84\/\" style=\"\" rel=\"noopener\">EGP<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/fintechgate.net\/2026\/02\/09\/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%8A%D9%81%D8%B1%D8%B6-%D8%BA%D8%B1%D8%A7%D9%85%D8%A9-2-1-%D9%85%D9%84\/\" style=\"\" rel=\"noopener\">2.1 bn fine<\/a><\/strong> on account of its failure to allocate 25% of its total loan and credit facilities portfolio to financing micro, small, and medium enterprises in line with CBE requirements.<\/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\">Tactful AI raises USD 1 mn in pre-Series A to scale agentic CX<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cairo-born<\/strong><strong> customer experience platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/tactful.ai\/\" style=\"\" rel=\"noopener\">Tactful AI<\/a><\/strong><strong> raised USD 1 mn in a<\/strong><strong> pre-Series A round<\/strong> co-led by Foras AI and M Empire, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/567.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The round follows a 100x increase in platform usage over the past year and marks a new independence milestone after the founders bought the company back from European firm Dstny \u2014 which had acquired it in 2022. The company aims to raise a Series A within the next 12 months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> Tactful is moving beyond chatbots into agentic AI to autonomously execute back-end tasks like order tracking and CRM updates. For enterprise clients like Elaraby Group, Bosta, and Valu, this shifts AI from a cost center to a revenue driver. The founders\u2019 decision to buy the company back taps into a broader sovereign tech trend in Egypt, where startups are favoring local R&D and strategic control over quick exits. Tactful has already invested USD 5 mn in product development and plans to double that amount over the next three years.<\/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","protected":false},"excerpt":{"rendered":"<p>PLUS- Tactful AI secures USD 1 bn in pre-Series A round and eyes Series A within a year<\/p>\n","protected":false},"author":1,"featured_media":685165,"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":[12548,111,240,205,302,72,955,83,123,3224],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-685164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-ain-sokhna","tag-also-on-our-radar","tag-cib","tag-credit-agricole","tag-earnings","tag-enterpriseam","tag-hospitality","tag-real-estate","tag-startups","tag-tatweer-misr","wpautop","entry"],"acf":{"mongo_id":"3fa2c45c-d179-4512-bc1b-74a897acf2f9","order":"9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/2\/629.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Sokhna is getting high-rises and superyachts","related_issue":[685149],"teaser":"PLUS- Tactful AI secures USD 1 bn in pre-Series A round and eyes Series A within a year"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The agreement will help finance the company\u2019s Il Monte Galala beachfront development in Ain Sokhna and its Bloomfields residential compound in New\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-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":609660,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/debt-news-from-tatweer-misr-raya-plus-expat-car-for-fx-initiative-registers-100k-in-first-week-tantawy-on-trial\/","url_meta":{"origin":685164,"position":1},"title":"Debt news from Tatweer Misr + Raya. Plus: Expat car-for-FX initiative registers 100k in first week, Tantawy on trial","author":"enterpriseam admin","date":"8 November 2023","format":false,"excerpt":"The AAIB is extending an EGP 3.5 bn facility to Tatweer Misr","rel":"","context":"In &quot;Also on our Radar&quot;","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\/2023\/11\/361.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":625967,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/27\/kerten-to-manage-tatweer-misrs-hotels-in-fouka-bay-and-il-monte-galala\/","url_meta":{"origin":685164,"position":2},"title":"Kerten to manage Tatweer Misr\u2019s hotels in Fouka Bay and Il Monte Galala","author":"enterpriseam admin","date":"27 August 2018","format":false,"excerpt":"Tatweer Misr will sign today an agreement with Ireland-based Kerten Hospitality to manage the former\u2019s hotels in the North Coast\u2019s Fouka Bay and Ain Sokhna\u2019s Il Monte Galala, according to Al Masry Al Youm. It remains unclear when the hotels will launch.","rel":"","context":"In &quot;Tourism&quot;","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":636099,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/20\/tatweer-misr-mostakbal-sign-cooperation-for-two-projects-worth-egp-33-bn\/","url_meta":{"origin":685164,"position":3},"title":"Tatweer Misr, Mostakbal sign cooperation for two projects worth EGP 33 bn","author":"enterpriseam admin","date":"20 December 2017","format":false,"excerpt":"Real estate developer Tatweer Misr signed two agreements with Mostakbal for Urban Development worth a combined EGP 33 bn for projects spanning 325 feddans, Tatweer Misr announced yesterday (pdf). The first agreement, worth EGP 28 bn, is for a mixed use community spanning 325 feddans. The project will be completed\u2026","rel":"","context":"In &quot;Real Estate + Housing&quot;","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":634434,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/15\/tatweer-misr-in-talks-for-egp-1-bn-loan-to-finance-purchase-land-in-new-capital\/","url_meta":{"origin":685164,"position":4},"title":"Tatweer Misr in talks for EGP 1 bn loan to finance purchase land in new capital","author":"enterpriseam admin","date":"15 January 2018","format":false,"excerpt":"Real estate developer Tatweer Misr is in talks with local banks over a EGP 1 bn loan to finance the purchase of 500 feddans at the new administrative capital to construct a mix-use development, sources tell Al Shorouk.","rel":"","context":"In &quot;Real Estate + Housing&quot;","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":621574,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/12\/tatweer-misr-gen-to-build-egp-120-mn-entrepreneurship-center\/","url_meta":{"origin":685164,"position":5},"title":"Tatweer Misr, GEN to build EGP 120 mn entrepreneurship center","author":"enterpriseam admin","date":"12 November 2018","format":false,"excerpt":"Real estate developer Tatweer Misr signed an MoU yesterday with Global Entrepreneurship Network (GEN) to establish a EGP 120 mn center for entrepreneurship and innovation as part of Tatweer Misr\u2019s Bloomfield project at Mostakbal City, state-run Al Ahram reports.","rel":"","context":"In &quot;Real estate&quot;","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"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\/685164","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=685164"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/685164\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/685149"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/685165"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=685164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=685164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=685164"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=685164"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=685164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}