The real estate sector in Egypt is undergoing a rapid transformation, driven by the surge in PropTech — a fusion of property and technology. As the country continues its shift towards a more digitally-driven economy, PropTech is revolutionizing how Egyptians buy, sell, and rent properties. Startups and real estate companies are using innovative technologies to make transactions faster, more transparent, and more accessible than ever. The rise of local PropTech startups A new wave of Egyptian PropTech startups is transforming the real estate market. Companies like Nawy, BirdNest, and Partment are introducing fresh, innovative solutions that make buying and renting…
Author: Rana Salem
The Egyptian Ministry of Finance has entered into a $10.3 million (€10 million) agreement with the European Bank for Reconstruction and Development (EBRD) to launch the “Egypt Account”, a dedicated fund aimed at financing feasibility studies and consultancy services for public-private partnership (PPP) projects. This initiative is designed to accelerate investment in key infrastructure sectors and enhance private sector participation in national development efforts, according to a cabinet statement released on February 5. Accelerating PPP projects Prime Minister Mostafa Madbouly noted that this agreement is a major step toward increasing private sector engagement, both locally and internationally, in public infrastructure…
Marriott International has partnered with Cairo House Egypt for Real Estate and Tourism Investment SAE to transform the historic Mogamma Al Tahrir building into an Autograph Collection Hotel, as part of a broader effort to revitalize Downtown Cairo, the company announced on February 4. Global consortium driving Downtown Cairo revitalization An international consortium of developers and investors, including Global Ventures Group, Oxford Capital Group, Al Otaiba Investments, and Zoser Capital Partners, will lead the development. The hotel will feature 500 guestrooms and serviced apartments, along with a rooftop swimming pool offering panoramic views of Tahrir Square, the Nile, and the…
Egypt’s non-oil private sector saw solid growth in January, marking its first expansion since August 2024, driven by a strong rise in output and sales volumes, according to the S&P Global Egypt Purchasing Managers’ Index (PMI) report published on February 4. Non-oil private sector Egypt’s PMI climbed to 50.7 in January, its highest level in 50 months, up from 48.1 in December. A reading above 50 signals growth, while a figure below 50 indicates contraction. “The ceasefire deal between Israel and Hamas likely added confidence to markets in January. That said, business expectations for the next 12 months remain subdued,…
Gold prices have hit a historic high, surpassing $2,800 per ounce, as markets react to President Donald Trump’s sweeping tariffs on Canada, Mexico, and China. The surge signals a strong shift toward safe-haven assets, driven by rising fears of trade wars and inflation. With uncertainty mounting, investors are flocking to gold, raising questions about the future of the precious metal in these turbulent times. Gold market reacts On February 1, the White House revealed that President Trump had decided to impose a 25% tariff on imports from Mexico and Canada, and a 10% tariff on goods from China. Energy resources…
The Central Bank of Egypt (CBE) raised $2 billion through its first dollar-bond issuance in nearly two years on January 29, signaling a rebound in the international bond market amid ongoing economic challenges. New bonds sale The deal included $1.25 billion in five-year bonds with an 8.625% yield and $750 million in eight-year bonds with a 9.45% return. This move comes as part of Egypt’s broader strategy to manage its external debt and bolster foreign investment. The government hired JPMorgan Chase & Co., Citigroup Inc., HSBC Holdings Plc, Goldman Sachs Group Inc., Standard Chartered Plc and Sumitomo Mitsui Banking Corp.…
As artificial intelligence (AI) continues to reshape industries worldwide, two emerging technologies are stirring significant interest in Egypt’s private sector: OpenAI’s ChatGPT and the Chinese-developed DeepSeek. Both AI models offer transformative potential for businesses, but knowing when to use each is critical for achieving optimal results. The rise of DeepSeek and ChatGPT The global AI landscape has seen rapid developments, and two technologies are leading the charge—OpenAI’s ChatGPT and DeepSeek. As AI adoption grows, Egyptian enterprises are increasingly looking to these tools for solutions to improve efficiency, enhance decision-making, and automate services. DeepSeek, developed in China, has created a stir in…
As the fog of geopolitical uncertainty lifts, a historic artery of global trade is finding its rhythm again. The Suez Canal, the lifeblood of commerce between East and West, is eager to get back on course after a ceasefire agreement in Gaza. After months of disruption, on January 21, Osama Rabie, chairman and managing director of the Suez Canal Authority (SCA), announced the resumption of major shipping lines transiting through the Suez Canal. He stated that the canal is ready to operate at full capacity as preparations are underway for the gradual return of global trade, following the restoration of…
Egypt’s business landscape is closely monitoring U.S. President Donald Trump’s second term, secured with 312 electoral votes and JD Vance as vice president, as his executive decisions are expected to significantly impact monetary policy, investments, and the broader economy. With his “America First” agenda and historical focus on private sector growth, Egypt might see both challenges and opportunities in attracting U.S. investments, adjusting to changes in global trade, and navigating shifts in international financial strategies. The U.S. has been Egypt’s largest trade partner for years. In 2023, total trade between the two countries reached $6.9 billion, according to the American…
Around 12,000 medical tourists from 50 countries received care in Egypt’s healthcare facilities in 2024, marking a 200% increase from a year earlier, according to Ahmed El Sobky, Chairman of the Board of Directors of Egypt Healthcare Authority. This marks a five-fold increase from 2022, reflecting growing confidence in Egypt’s healthcare services. El Sobky believes this trend will further solidify the country’s position as a leading destination for medical tourism, according to a statement released by the Egyptian Cabinet in January. El Sobky noted that the “We Care for You in Egypt” initiative aims to establish Egypt as a leading…