The deal marks Minor Hotels’ entry into Egypt’s hospitality market
Egypt
Latest in Egypt
Egypt
UAE’s Maseera acquires Egyptian fintech ADVA
The move marks a critical milestone in Maseera’s regional expansion strategy
Egypt
Egypt and Jordan thank the European Parliament for new financial aid
The European Union members recently approved loans worth $4.4 billion in three instalments to Egypt and $555 million to Jordan
Egypt
Abu Dhabi’s Modon to develop Ras El Hekma industrial zone in Egypt, 20,000 new jobs expected
Abu Dhabi’s Modon and Egypts Elsewedy Industrial Development to create 20,000 new jobs at Ras El Hekma industrial zone in Egypt
Abu Dhabi Fund for Development
Abu Dhabi Fund for Development launches $120mn luxury hotel project in Egypt
The Sofitel Legend Pyramids Giza project will be financed through a strategic partnership between the private sectors of the UAE and Egypt
climate change
IMF approves $2.5bn in funding for Egypt, backs climate finance initiative
Fund cites “mixed progress” on reforms as Egypt faces Red Sea disruptions costing $6bn in Suez Canal revenue while struggling with high debt and fiscal challenges
AD Ports Group
AD Ports Group to get new-gen Panamax-class cranes for its new multipurpose cargo terminal in Egypt
AD Ports Group said it is investing AED 193 million in three ship-to-shore (STS) cranes and six hybrid rubber-tyred gantry (RTG) cranes for the terminal
Cairo
Downtown Cairo deal: Alabbar says he has experience to give Egypt ‘something that has never been seen anywhere in the world’
The Downtown Cairo investment could reach $15bn, span 3mn square meters, sources told Arabian Business
ACWA Power
ACWA Power signs $2.3bn deal for Egypt’s largest wind farm
The PPA with the Egyptian Electricity Transmission Company includes a 2.0 GW Wind Project, exceeding ACWA Power’s current 1.1 GW Suez Wind Farm
acquisition
Agthia increases its stake in Egyptian healthy snacks company to 80%
Abu Auf has opened more than 100 stores and increased EBITDA by over 70% in AED terms over the past two years
Branded residences
Swiss-Belhotel International expands in Egypt with Swiss-Belresidences Manaj in New Cairo
The project features 200 premium apartments in the highly sought-after South Investors
Aviation
Jazeera Airways announces new Kuwait flights to Russia, Egypt and Hungary
Kuwait’s low-cost airline Jazeera Airways will fly to Sochi, Hurghada and Budapest in Summer 2025
Abu Dhabi
AD Ports Group signs MoU with Egypt to develop major logistics hub in Alexandria Port
The area is set to be one of the largest logistics hubs on the Mediterranean Sea, at Alexandria Port
Egypt
Israel and Hamas agree Gaza ceasefire and hostage release: Qatari PM
Qatar and UAE welcome ceasefire agreement between Hamas and Israel
Central Bank of Egypt
Egypt to receive $1.2bn IMF aid in January, says finance minister
Last month, the IMF said it reached a staff-level agreement with Egypt on the fourth review of the 46-month Extended Fund Facility arrangement
debt management
Egyptian government plans to borrow $39bn from local market in Q1 2025
Forty-eight treasury bill auctions worth EGP 1.780 trillion and 40 bond auctions worth EGP 203 billion are scheduled from January 1 to March 31
Central Bank of Egypt
Egypt secures IMF staff-level approval for $1.2bn funding in fourth review
The agreement includes recalibrating Egypt’s fiscal commitments to create space for critical social programmes benefiting vulnerable groups and the middle class, while ensuring debt sustainability