Serenity for Investment & Real Estate Management has launched operations as Egypt’s first specialized developer focused on the development and management of memorial gardens, unveiling its inaugural project, “Serene".

An investment and engineering alliance between Sky Investments Holding and Innovo Group is introducing a new model of sustainable real estate development in Egypt through their joint platform, Sky Innovo Developments.

The Ministerial Group for Industrial Development, chaired by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir, approved two projects submitted by the Suez Canal Economic Zone Authority (SCZONE).

Egypt has signed a $140 million long-term syndicated financing agreement for the first phase of a metallic silicon and derivatives production complex planned for the industrial zone in New Alamein.

The General Authority for Suez Canal Economic Zone (SCZONE) signed a usufruct agreement with the industrial developer Main Development Company (MDC) to develop ready-to-use factories and buildings in the Qantara West Industrial Zone for immediate operation by investors.

The Suez Canal Economic Zone (SCZONE) and Pitcairn Group have signed a contract to establish a food industries project in Sokhna Industrial Zone, with total investments of $8 million.

Banque Misr has led a consortium of ten banks in extending a total of EGP 8.9 billion in joint Islamic financing to Al Marasem International for Urban Development to support the Fifth Square project in New Cairo.

TBK International, Tabarak Holding’s development arm in the Gulf, and Minor Hotels, a global leader in the hospitality industry, signed a strategic cooperation agreement to launch the Oaks Riyadh project in Saudi Arabia.

The General Authority for Investment and Free Zones (GAFI) is in talks with Fountain Set Limited over the establishment of a $100 million textile industrial complex, as the Chinese manufacturer considers expanding its presence in Egypt’s spinning and weaving sector.

Orascom Development Egypt said its subsidiary, Makadi Heights for Tourism Development Company, signed an agreement with the government to develop a land plot measuring 1.021 million square meters directly connected to the existing Makadi Heights destination on the Red Sea coast.

Egypt Kuwait Holding announced the start of a project in the UK to recycle plastic waste into oils through one of its subsidiaries, in which the company holds an 85% stake.

Madinet Masr and Waheej Real Estate announced the launch of Citydom, a jointly owned real estate entity established between the two companies.

The General Authority of the Suez Canal Economic Zone (SCZONE) has laid the foundation stone for two textile and garment projects in the Qantara West Industrial Zone, with total investments amounting to $20.5 million, as per a statement.

The Suez Canal Authority (SCA) has signed a strategic partnership agreement with Anchorage Investments to establish a large-scale petrochemical industrial complex in Ain Sokhna, as per a statement.

Egypt’s Ministry of Public Business Sector has signed letters of intent with international financial institutions to finance the Dandara Solar Energy Project, which will supply electricity to the Egypt Aluminum Company (Egyptalum) (EGAL) complex in Nag Hammadi, Qena Governorate, as per a statement.

Heliopolis Housing and Development has signed an addendum to the partnership contract with Middle East for Real Estate Development and Investment, as per a disclosure.

The World Bank Group (WBG) has reported that its current partnership portfolio with Egypt includes 13 ongoing projects worth $6.5 billion.

The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has signed a new EGP 30 million financing contract with Flend.

The General Authority for the Suez Canal Economic Zone (SCZONE) has signed a new investment contract with Turkish company UR-SA to establish an industrial textiles and plastic packaging facility in the Qantara West Industrial Zone.

Egyptian real estate developer Madar Developments has launched its latest residential venture Kenz in New Sheikh Zayed, with a total investment of EGP 30 billion.