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Tourists on a Red Sea beach in Egypt

Egypt’s hotel market sees 42% RevPAR growth in 2018

Egyptian hotels in different governorates, such as Cairo, Hurghada, Sharm El Sheikh, and Alexandria saw an average revenue per available rooms (RevPAR) growth of 42% in 2018 compared to 2017, according to Colliers International’s MENA Hotel Forecast for 2019. Colliers said that Egypt’s hotels RevPAR growth is driven by both average daily rates (ADR) and …

Shaimaa Al-Aees

Projects of Egypt’s free zones expand their businesses by $1bn: Nasr

About 15 projects in Egypt’s free zones have expanded their businesses by $1bn, in addition to other 65 new projects with estimated investments of $265m, the Minister of Investment and International Cooperation, Sahar Nasr, said on Monday. There are 1,090 projects in Egypt’s free zones with a total capital of $12.1bn and foreign direct investments …

Daily News Egypt

Ericsson launches critical communications broadband network offerings

‘Our critical broadband portfolio will enable customers effectively secure critical communication needs of sectors such as public safety, energy, transportation, manufacturing,’ says Per Narvinger Ericsson has launched its critical communications broadband portfolio for service providers. This will enable service providers to meet the business-critical and the mission-critical needs of industries, as well as public safety …

Daily News Egypt

Wadi Degla embarks on Promenade Maadi with investments of EGP 350m 

Wadi Degla Developments has commenced work on new luxury residential compound, Promenade Maadi, in a prime uphill location in Zahraa El Maadi in front of Wadi Degla SC. Maged Helmy, chairperson and CEO of Wadi Degla Holding, said in press statement that Promenade Maadi, to be built on an area of 34,000 sqm, will have 300 …

Shaimaa Al-Aees

Tameer plans to complete marketing of Azad New Cairo in H1 of 2019

Tameer plans to complete marketing of its Azad project by the end of the first half (H1) of 2019 with targeted sales of EGP 1.7bn, according to Tameer’s Managing Director, Antoine El Khoury. El Khoury told Daily News Egypt that the company has managed to complete the marketing of about 65% of the total project. …

Shaimaa Al-Aees

Hassan Allam to implement HAPTOWN in Q2 of 2019

Hassan Allam Properties (HAP) has begun the earthworks of the first phase of its HAPTOWN project in Mostakbal City, while the construction works will start in April, according to CEO of Hassan Allam Holding, Hassan Allam. Allam told Daily News Egypt that the company aims to inject EGP 20bn of investments in the project, which …

Shaimaa Al-Aees