SODIC’s net profit surges 77% in 2025
SODIC reported a net profit of EGP 4.49bn, marking a 77% year-on-year increase, while revenues more than doubled to EGP 21.26bn, reflecting exceptional growth of 118% YoY. Strong Sales and Operational PerformanceDuring 2025, SODIC generated gross contracted sales of EGP 48.4bn, supported by the sale of 1,788 units, up from 1,270 units in 2024. East Cairo emerged as the primary growth engine, accounting for approximately 52% of total contracted sales. This represented 44% of SODIC’s total sales for the year and significantly strengthened the company’s footprint in East Cairo. Unrecognized revenues from contracted sales reached EGP 106bn as of 31 December 2025, providing strong visibility for future revenue growth.
Source:Daily News Egypt
February 08, 2026 18:26 UTC
Emergency Labour Aid Fund disburses EGP 2.48bn to support over 441,000 workers nationwide
The Board of Directors of the Emergency Labour Aid Fund, chaired by Minister of Labour Mohamed Gobran, announced that the fund has disbursed a total of EGP 2.481bn since its establishment on 1 July 2002 through 8 February this year, benefiting 441,600 workers employed at 3,999 establishments across the country. In a statement issued on Sunday, the board revealed that between 1 July 2024 and 8 February this year alone, the fund allocated EGP 253.6m to support 24,528 workers at 51 establishments affected by emergency circumstances. The board reaffirmed the fund’s continued commitment to supporting workers and establishments facing emergency challenges through the provision of wage subsidies. Minister Gobran stated that the fund’s support reflects its national and humanitarian mandate, providing temporary wage assistance to workers in establishments experiencing crises or short-term difficulties until normal operations and full productive capacity are restored. He added that these efforts contribute to labour market stability, sustained production, and the overall strengthening of the national economy.
Source:Daily News Egypt
February 08, 2026 18:26 UTC
Egypt’s engazaat to invest $100m in regional green utility projects
Egyptian asset manager engazaat plans to invest more than $100m over the next two years to support its regional expansion in climate infrastructure, the company announced on Sunday. “We approach water, energy, and food infrastructure as one connected investment case,” said Muhammad El Demerdash, founding partner and CEO of engazaat. To finance its expansion into clean infrastructure, engazaat has launched the SAVE Sustainable Infratech Fund, a $200m investment platform established in partnership with CI Capital. A flagship project for the firm is SAVE-1, located in the Dakhla Oasis in Egypt’s New Valley governorate. The project combines renewable energy and water systems to support local agriculture and is expected to reduce more than 460,000 tonnes of CO₂ over its operating life.
Source:Daily News Egypt
February 08, 2026 18:17 UTC
Egypt to import frozen poultry to boost supply ahead of Ramadan
Egypt has agreed to import large quantities of frozen poultry and poultry parts from several countries to increase market supply and lower prices ahead of Ramadan, the ministries of Supply and Agriculture and the Mostaqbal Misr Agency for Sustainable Development said on Sunday. The agreement, reached during a meeting between Supply Minister Sherif Farouk, Agriculture Minister Alaa Farouk, and Bahaa El-Ghanam, head of Mostaqbal Misr, aims to secure the domestic market’s needs during the upcoming peak consumption season. The three entities described their cooperation as a “food security triangle” designed to coordinate the availability of essential goods and regulate market movement. This move is part of state efforts to strengthen strategic stocks of food commodities, achieve market balance, and ensure price stability during and after Ramadan. They further stated that additional measures would be taken to increase the supply of basic commodities to enhance the state’s food security system and alleviate the burden on citizens.
Source:Daily News Egypt
February 08, 2026 18:16 UTC
New digital platform to offer 40 initial services for Egyptian social insurance
Egypt is preparing to launch a new digital system for the National Social Insurance Authority that will provide a total of 95 electronic services to citizens within six months of its rollout, Gamal Awad, head of the authority, said on Sunday. The first phase of the system’s implementation will feature the immediate launch of 40 electronic services on the digital platform, with an additional 55 services to be added in stages over the following half-year. “We have a great interest in raising the efficiency and developing the performance of the Social Insurance Authority,” Madbouly said. The platform aims to expand digital offerings, innovate service solutions, and achieve financial inclusion while monitoring all system elements to evaluate performance rates. Awad also noted that the authority is cooperating with several financial partners to implement an electronic payment and collection system to facilitate services for those dealing with the new digital platform.
Source:Daily News Egypt
February 08, 2026 18:05 UTC
Nawassy Developments partners with Rotana to manage N LINE hotel in New Cairo
Nawassy Developments has signed a management and operation agreement with global hospitality group Rotana for its N LINE hotel project, part of the company’s mixed-use NEST development in the Sixth Settlement area of New Cairo. Hossam Soliman, Chief Executive Officer and Managing Director of Nawassy Developments, said the partnership marks a key milestone in the company’s strategy to collaborate with leading international operators with proven expertise. He noted that full delivery of the project is targeted for 2032, in line with the approved development plan. The CEO also revealed that Nawassy Developments is advancing several projects in parallel, reflecting the strength of its development portfolio and its expansion plans in the coming years. The agreement to manage and operate the N LINE project underscores Rotana’s confidence in the outlook for Egypt’s real estate and hospitality sectors and supports Nawassy Developments’ strategy of delivering high-quality projects through impactful global partnerships.
Source:Daily News Egypt
February 08, 2026 18:02 UTC
Eden Development plans EGP 3bn in real estate investments during 2026
Eden Development has announced plans to invest approximately EGP 3bn in real estate projects in 2026, as part of an expansion strategy spanning both Egypt and Georgia. According to Eden Development, construction works had already commenced prior to the launch of sales. Eden Development said it adopts an integrated operational model covering multiple stages of the project lifecycle, including pre-sale and post-delivery services, maintenance, and ongoing operational support. Eden Development said this portfolio underpins its expansion into hospitality, hotel operations, and asset management. On the domestic front, Eden Development described Egypt—particularly the New Administrative Capital, New Cairo, and East Cairo—as markets characterised by strong demand and sustained urban development activity.
Source:Daily News Egypt
February 08, 2026 18:02 UTC
MIDAR announces EGP 200bn in new investments over past year
The company revealed that it has signed a memorandum of understanding to invest approximately $2bn in hotel and entertainment projects, in cooperation with Saudi Arabia’s Sumou Investment, Adeer—an affiliate of Adeer Holding and Sumou Holding—and Hassan Allam Properties. MIDAR also highlighted major regional partnerships concluded over the past year, including a collaboration with UAE-based Emaar to develop an integrated residential project in MADA, with investments estimated at around EGP 100bn. Additional agreements include a partnership with Adeer International to develop a large-scale project in Mostakbal City with investments of about EGP 70bn, as well as a partnership with SODIC to develop an integrated urban community in MADA, with investments reaching EGP 110bn. MIDAR’s Chief Executive Officer and Managing Director, Ayman ElKousey, said the company’s recent expansion reflects its focus on accelerating project implementation and attracting long-term investments. MIDAR further announced that it has obtained international ISO certifications in quality management, occupational safety, and environmental management.
Source:Daily News Egypt
February 08, 2026 18:02 UTC
Talaat Moustafa Group, EEP to build EGP 8bn university in Noor City
Talaat Moustafa Group (TMG) has signed a strategic partnership agreement with Egypt Education Platform (EEP) to establish a private university in Noor City with a total investment cost of EGP 8bn, the company announced. As part of the same agreement, EEP will also operate two schools within Noor City under a management contract. The partnership is part of Talaat Moustafa Group strategy to diversify its investments and maximise returns from its integrated urban projects. Noor City, located in the Capital Gardens area of East Cairo, covers a total area of 21 million square metres. TMG confirmed that unit deliveries in Noor City are expected to begin in 2026, according to the approved schedule.
Source:Daily News Egypt
February 08, 2026 18:02 UTC
New real estate legislation in pipeline as Egyptian parliament targets market stability
Egypt’s current parliament is witnessing the highest representation of real estate developers in its history, with around 20 members in the House of Representatives and nearly five in the Senate coming from the sector. This strong presence is expected to directly shape the legislative agenda, placing real estate development challenges at the forefront of parliamentary discussions during the current session. Meanwhile, housing committee member Mahmoud Taher highlighted the importance of introducing independent escrow accounts for each real estate project. Real estate brokerage and land allocationMassoud added that regulating the market would remain incomplete without a law governing real estate brokerage, noting that the absence of regulation has led to inflated commission rates ranging from 8% to 15%, compared to the historically standard 2.5%. On land allocation, housing committee member Mohamed Sobhy pointed to difficulties in acquiring land and rising construction material costs as major challenges facing developers.
Source:Daily News Egypt
February 08, 2026 18:02 UTC
Gold prices drop EGP 150 in local market despite global gains
Gold prices in Egypt’s local market declined by EGP 150, or 2.2%, over the past week, even as global gold prices posted gains, reflecting a correction driven by a narrowing pricing gap between local and international markets. According to a report issued by online gold and jewellery trading platform iSagha, international gold prices rose by around $70, or 1.4%, to approximately $4,965 per ounce. Saeed Embabi, Chief Executive Officer of iSagha, said 21-carat gold closed the week at EGP 6,675 per gram, while 24-carat gold reached approximately EGP 7,629 per gram. Eighteen-carat gold was priced at EGP 5,721 per gram, and the gold pound stood at around EGP 53,400. Embabi explained that the decline in local prices occurred despite the global uptrend due to a pricing premium in the domestic market of between EGP 300 and EGP 500 above international levels.
Source:Daily News Egypt
February 08, 2026 17:55 UTC
Egypt’s FRA launches digital factoring portal to curb financing risks
Egypt’s Financial Regulatory Authority (FRA) has launched a digital factoring system on its electronic portal in partnership with e-finance to prevent double financing risks and streamline oversight of the sector, the regulator said on Sunday. The first phase of the system allows factoring companies to conduct electronic inquiries into invoices to verify whether they have been previously funded. FRA Chairperson Mohamed Farid said the launch is a step toward building an integrated infrastructure for the digital transformation of non-banking financial services. He noted that the system employs financial technology to enhance transparency and governance while improving the speed of service delivery. Under the new mechanism, factoring firms can reserve invoices in their favour until the funding is disbursed to the seller.
Source:Daily News Egypt
February 08, 2026 17:55 UTC
EgyptAnode prepares to launch second production line
As part of its approved development plan, EgyptAnode has recently received the coke cooler following the completion of its full rehabilitation. This milestone marks a key step toward the start-up of the company’s second production line and supports preparations to reach full production capacity by early March 2026. The rehabilitation works are proceeding according to schedule, reflecting EgyptAnode’s commitment to implementing its operational plan in line with the highest technical and operational standards. In parallel with its expansion plans, EgyptAnode is preparing to export its second shipment of calcined petroleum coke since resuming operations in October 2025. The company relies on advanced technologies and stringent quality and safety standards, reinforcing its position as a cornerstone of Egypt’s national industrial base.
Source:Daily News Egypt
February 08, 2026 17:55 UTC
Suez Canal revenues hit $449m in early 2026 as regional stability returns
Suez Canal revenues reached $449m since the beginning of 2026, marking a recovery following a ceasefire in Gaza that restored regional stability, Suez Canal Authority (SCA) Chairperson Osama Rabie said on Sunday. The canal recorded the passage of 1,315 ships with a total net tonnage of 56m tons from January 1 to February 8, 2026. The Suez Canal has “redefined itself” as a sophisticated logistics system adopting comprehensive digital transformation, according to Rabie. Under its 2030 strategy, the Suez Canal Authority has completed the development of the canal’s southern sector, which Rabie said has increased the navigational safety factor by 28%. Following the opening session, Rabie inspected the Martech 2026 international maritime technology exhibition, featuring SCA-affiliated companies and shipyards.
Source:Daily News Egypt
February 08, 2026 17:25 UTC
Torasna, Brassbell form alliance to advance heritage-led hospitality developments in Egypt
Torasna for Heritage Development and Management and Brassbell Hospitality Group have formed an alliance to jointly pursue heritage-led hospitality developments across Egypt, positioning adaptive reuse as a scalable response to the country’s record tourism growth and expanding lodging capacity. The alliance comes at a pivotal moment for Egypt’s tourism sector. The partnership combines Torasna’s expertise in heritage-driven development and adaptive reuse with Brassbell’s hospitality development and operational capabilities. Ahmed Shaboury, Chairperson and CEO of Torasna, said: “Egypt is entering a defining phase for tourism, and heritage-led hospitality has a critical role to play in shaping its next chapter. “Heritage-led assets, when thoughtfully developed and professionally operated, can contribute meaningfully to the country’s hospitality and tourism landscape,” he said.
Source:Daily News Egypt
February 08, 2026 14:55 UTC