Egypt expands power grid as electricity losses reach 4.6bn kWh
Egypt is coordinating with Russian partners to accelerate the execution timelines of the El Dabaa Nuclear Power Plant as part of a broader strategy to secure sustainable energy, Minister of Electricity and Renewable Energy Mahmoud Esmat said on Sunday. Madbouly stated that the electricity and energy sector is a priority for the government due to its essential contribution to development plans, the improvement of service quality, and the creation of an investment-friendly environment. The ministry also extended distribution lines by 194,000 kilometres and transmission lines by 5,610 kilometres to bolster network coverage. Addressing technical and financial inefficiencies, Esmat highlighted a crackdown on power theft, noting that authorities recorded stolen electricity totalling 4.6bn kilowatt-hours. The meeting underscored the Egyptian government’s focus on expanding energy infrastructure and ensuring long-term sustainability to align with national development goals.
Source:Daily News Egypt
February 01, 2026 19:42 UTC
Al-Sisi, Jordan’s king reject Palestinian displacement, urge full Gaza truce implementation
Egyptian President Abdel Fattah Al-Sisi met Jordan’s King Abdullah II in Cairo on Sunday, with both leaders reaffirming their rejection of any attempts to displace Palestinians from their land and calling for full implementation of the ceasefire agreement in Gaza, the Egyptian presidency said. The discussions focused on developments in Gaza and the West Bank. Al-Sisi and Abdullah reiterated Egypt and Jordan’s firm stance against any displacement of the Palestinian people, while rejecting violations and “arbitrary practices” against Palestinians in the occupied West Bank. They also said the establishment of an independent Palestinian state along the June 4, 1967 borders, with East Jerusalem as its capital, remains the only path to lasting peace and stability in the Middle East. The meeting also addressed wider regional developments, with both leaders stressing the importance of de-escalation, peaceful conflict resolution and respect for state sovereignty and territorial integrity.
Source:Daily News Egypt
February 01, 2026 19:42 UTC
Local Gold prices jumped by EGP 995 in January
Gold prices in the local market recorded strong gains in January, jumping by around EGP 995, despite steep declines observed in the final days of the month, according to a report issued by online gold and jewellery trading platform iSagha. On the other hand, 24-carat gold settled at around EGP 7,800 per gram by the end of trading, 18-carat gold at EGP 5,850, and the gold pound at approximately EGP 54,600. Globally, gold prices surged by about $577, or 13.4%, during January. Commenting on the pricing gaps, Embaby explained that local prices remain higher than their global equivalents by up to EGP 405. He stressed that sharp declines in gold prices do not signal the end of the upward trend.
Source:Daily News Egypt
February 01, 2026 19:42 UTC
Air Cairo launches first flights from Capital International Airport to Jeddah
Capital International Airport marked a new milestone on Sunday with the launch of the first Air Cairo flight from the airport to King Abdulaziz International Airport in Jeddah, reinforcing its growing role as a strategic hub within Egypt’s civil aviation network. The approach aims to stimulate air traffic to and from the New Administrative Capital while easing operational pressure on major hub airports, particularly Cairo International Airport. Air Cairo, the Ministry of Civil Aviation’s low-cost carrier arm, operated the inaugural flight using an Airbus A320 aircraft carrying 160 passengers. The launch signals the start of regular operations from Capital International Airport, with six weekly flights scheduled to Jeddah. Commenting on the launch, Minister of Civil Aviation Sameh El-Hefny said that operating Air Cairo flights from Capital International Airport aligns with the state’s strategy to fully capitalize on modern airport infrastructure and facilitate travel movement.
Source:Daily News Egypt
February 01, 2026 19:42 UTC
Egypt’s water minister joins Rwanda’s community service day during official visit
Egypt’s Water Resources and Irrigation Minister Hani Sewilam took part in Rwanda’s monthly community service day known as “Umuganda” during his official visit to the country, Egypt’s water ministry said on Sunday. The ministry said Sewilam participated at the invitation of Rwanda’s Environment Minister Bernadette Arakwu, accompanied by members of the joint steering committee for the bilateral Water Resources Management and Irrigation Project and Egypt’s ambassador to Rwanda Hanan Shaheen. Umuganda is a nationwide community initiative held on the last Saturday of every month, bringing together citizens and officials across Rwanda to carry out public works such as environmental clean-ups and tree planting, reflecting a strong culture of collective action and sustainable development. Sewilam, the Egyptian ambassador and members of the delegation planted trees in a symbolic gesture highlighting shared commitment to environmental protection and nature-based solutions, the statement said. Both sides stressed the importance of building on such community-driven experiences to strengthen cooperation and support sustainability-focused initiatives across Africa, according to the ministry.
Source:Daily News Egypt
February 01, 2026 19:42 UTC
Egypt’s Rees Tech targets EGP 1bn sales in 2026 on solar energy boom
Egyptian renewable energy solutions firm Rees Tech is targeting sales of approximately EGP 1bn in 2026, driven by a rapid increase in demand for solar systems across the local market, Chairperson Ibrahim Gamal said. Rees Tech, which operates as a specialised trading company, provides integrated solutions for solar power plants, including inverters, solar panels, batteries, and protection products. Gamal stated that the firm maintains a market protection policy to safeguard distributor margins and ensure long-term stability. The company distributes solar panels from global manufacturers JA Solar and LONGi, and recently secured the exclusive agency for AIKO solar panels in Egypt. To mitigate supply disruptions and market volatility, Rees Tech currently holds inventory sufficient to cover three to four months of demand, Gamal said.
Source:Daily News Egypt
February 01, 2026 19:42 UTC
Egypt considers trading sugar on commodity exchange to bolster market stability
Egypt is studying the possibility of trading sugar on its commodity exchange to improve governance, transparency, and price stability, according to a statement from the Ministry of Supply and Internal Trade on Sunday. The officials met to coordinate a strategy for the sugar industry aimed at strengthening self-sufficiency in strategic commodities and securing the local market on a sustainable basis. Sherif Farouk stated that the sugar industry is a priority strategic file for the state due to its direct impact on food security. The Ministry of Agriculture is prioritising sugar beet and sugar cane by expanding cultivated areas and providing farmers with high-yield seeds and modern agricultural practices, according to Agriculture Minister Alaa Farouk. The meeting reviewed the current status of the industry and the challenges facing the system from agriculture through to distribution.
Source:Daily News Egypt
February 01, 2026 18:59 UTC
Egypt’s FRA mandates oversight overhaul for government insurance funds
Egypt’s Financial Regulatory Authority (FRA) has issued a comprehensive regulatory framework to govern government insurance funds, establishing an integrated system of oversight to ensure financial sustainability and protect the rights of approximately 30 million beneficiaries. Under the framework, government insurance funds must be established by a decree from the Prime Minister following a proposal from the FRA’s Board. The FRA has been granted broad powers to intervene in cases of violations or risks that threaten a fund’s financial position. Existing government insurance funds have been given a one-year deadline to bring their operations into compliance with the new regulations. Government insurance funds in Egypt are distinct from the national social insurance and pension systems.
Source:Daily News Egypt
February 01, 2026 18:57 UTC
Egypt’s chemical, fertilizers exports exceed $9.4bn in 2025, up 7.4%
Egypt’s exports of chemical products and fertilizers recorded strong growth in 2025, surpassing $9.4bn, according to official data released by the Export Council for Chemical Industries and Fertilizers. This positive performance reflects sustained external demand for Egyptian chemical and fertilizer products, alongside improved performance across several key product groups, particularly fertilizers, basic chemicals, and intermediate chemical products. The growth further strengthens the sector’s contribution to Egypt’s non-oil exports. Khaled Abou El Makarem, Chairman of the Export Council for Chemical Industries and Fertilizers, said that the 2025 performance reflects the continuous efforts made in cooperation with member companies and relevant stakeholders to boost exports. The council reaffirmed its commitment to enhancing the competitiveness of the chemical and fertilizers sector and increasing its contribution to Egypt’s export revenues, in line with the state’s goals for sustainable economic growth and stronger industrial exports.
Source:Daily News Egypt
February 01, 2026 18:56 UTC
Real estate prices in Egypt are unlikely to decline: Hisham Talaat Moustafa
Prominent businessman Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Group Holding (TMG),affirmed that real estate prices in Egypt are unlikely to decline in the near future, stressing that the pricing of residential units is directly tied to the actual cost of land and construction materials rather than speculation or inflated profit margins. Speaking in a phone interview on Al Hekaya TV program, Talaat Moustafa explained that current prices maintain only a modest profit margin for developers, making price reductions unfeasible, particularly given the ongoing rise in construction and execution costs. Regarding ready-to-deliver units, Talaat Moustafa confirmed that prices are not expected to drop, pointing out that the alternative for buyers would involve higher costs, thereby preserving the market value of existing units. He emphasized that purchasing ready units in cash without interest charges presents a valuable investment opportunity, as such prices are unlikely to be repeated due to rising costs. Talaat Moustafa dismissed any claims of a slowdown in the resale market, citing rising rates of unit transfers within his company as evidence of sustained demand.
Source:Daily News Egypt
February 01, 2026 17:43 UTC
Egypt’s legislative agenda to include key real estate laws: MP Amin Masoud
Egypt’s upcoming legislative agenda will prioritise a series of laws aimed at regulating the real estate sector and addressing gaps in the current legal framework, according to Amin Masoud, Member of Parliament and Deputy Chair of the Housing Committee. Speaking at the Association of Real Estate Developers (arD) summit, Masoud disclosed that the Housing Committee is actively reviewing the Occupants Union Law to strengthen market discipline. The legislator highlighted the real estate industry as a primary driver of national economic growth, noting that approximately 60% of related industries and activities are tied to the sector. To enhance state revenues and market competitiveness, Masoud advocated for the promotion of real estate exports. The deputy chair stressed the importance of professional bodies, such as the Real Estate Developers Association, in proposing new legislation and collaborating with the government to implement practical solutions for the sector.
Source:Daily News Egypt
February 01, 2026 17:43 UTC
Gates Developments delivers Gates Privé in Sheikh Zayed 1 year ahead of schedule
Gates Developments has completed the delivery of its Gates Privé residential project in Sheikh Zayed one year ahead of its contractual deadline, the company announced during a site visit for journalists. Hassan Nasr, CEO of Gates Developments, said the milestone was driven by the company’s wholly owned construction arm, Gates Con, which allowed for tighter quality control and accelerated timelines across all phases. Construction at the Privé Mall has reached nearly 60% completion, with delivery scheduled for the end of 2026. Progress was also noted at the Space Commercial Complex in Sheikh Zayed. Gates Developments is targeting the delivery of 972 units in 2026 and plans to launch two new projects in Sheikh Zayed, covering 70 feddans and 23 feddans respectively.
Source:Daily News Egypt
February 01, 2026 17:40 UTC
Official Egyptian Real Estate Platform to serve as state gateway for property exports
The Official Egyptian Real Estate Platform has been established as the state’s primary gateway for exporting property to global markets and digitising the sector’s transactions, according to Ahmed Elbatrawy, the platform’s founder and chairperson. Speaking at the inaugural Association of Real Estate Developers (arD) conference, titled “Developers Summit: Leadership in Construction and Responsibility in Development,” Elbatrawy described the platform as a strategic tool for serious developers to enhance transparency and regulate the market. “The platform represents the future of digital real estate transactions in Egypt,” Elbatrawy said. In addition to transaction management, the platform provides analytical tools to help developers understand market dynamics and make informed investment decisions. Elbatrawy emphasised that developer participation is essential for enhancing market transparency and positioning Egypt’s property market prominently on the global stage.
Source:Daily News Egypt
February 01, 2026 17:40 UTC
Al Emarat Development debuts in Egypt with First Plaza Mall launch
Al Emarat Development has launched First Plaza Mall in west Cairo, marking the company’s entry into the Egyptian real estate market, Chairperson Abdallah El-Menshawy announced on Sunday. The commercial project is being developed in collaboration with Hafez Consultants as design consultant and KAD Commercial Property Management for operations. The development spans approximately 5,000 square metres on Lotus Street at the main entrance of Touristic Area (A) in Hadayek October. Ismail El-Menshawy, Managing Director of Al Emarat Development, said the mall will feature a mix of commercial, administrative, and medical units. Sales Director Sobhy Adel confirmed that commercial units start from 25 square metres, while administrative and medical units begin at 40 square metres.
Source:Daily News Egypt
February 01, 2026 17:39 UTC
Wealth Holding launches EGP 10bn Citra Residence in New Sheikh Zayed
Wealth Holding has launched Citra Residence in New Sheikh Zayed City, marking the company’s first residential development in West Cairo with a total investment of EGP 10bn. The project was officially unveiled by Soheir Karim, Non-Executive Chairperson of Wealth Holding, as part of the firm’s 2026 expansion strategy. Mohamed Mamdouh, CEO and Managing Director of Wealth Holding, stated that Citra Residence is being developed in four sales phases to meet rising demand in the region. Approximately 85% of the total land area is dedicated to green spaces and landscaping, according to Ahmed Samir El-Dessouky, Chief Commercial Officer at Wealth Holding. Unit prices at Citra Residence start from EGP 12m, with the company offering flexible payment plans extending up to 10 years.
Source:Daily News Egypt
February 01, 2026 17:39 UTC