Egypt to upgrade 800 km of International Coastal Road from Port Said to Salloum
The visit comes as part of the Ministry of Transport’s broader plan to develop and enhance the 800-kilometre International Coastal Road extending from Port Said in the east to Salloum on the western border. The road represents a strategic transport artery linking Egypt’s Mediterranean ports – including Port Said, Damietta, Alexandria, and Gargoub – while passing through seven governorates: Port Said, Damietta, Dakahlia, Kafr El-Sheikh, Beheira, Alexandria and Matrouh. During the tour, Al-Wazir reviewed progress on the 64-kilometre stretch, including 37 kilometres within Damietta Governorate and 27 kilometres in Dakahlia Governorate. Construction is also under way on a dedicated concrete truck lane from Damietta (km 50) to the Black Sand dredging area (km 132). The minister further reviewed progress on the Damietta East road duplication and rehabilitation project, which extends 62 kilometres.
Source:Daily News Egypt
February 15, 2026 19:15 UTC
Egypt mandates non-banking financial firms to offset 20% of carbon emissions
Egypt has mandated that non-banking financial institutions with capital exceeding EGP 100m must measure their carbon footprints and offset 20% of their annual emissions through the purchase of carbon credits, Minister of Investment and Foreign Trade Mohamed Farid said on Sunday. Farid emphasised that Egypt has implemented an integrated package of structural reforms across both the banking and non-banking financial sectors through cooperation between the Central Bank and the Financial Regulatory Authority (FRA). The real starting point for sustainable finance involved establishing precise regulatory and legislative frameworks to govern the issuance of sustainability-linked debt instruments, according to Farid. The minister explained that building an accurate and integrated database on carbon emissions served as the “cornerstone” for developing the sustainable finance system. Farid also highlighted that the FRA’s decisions requiring non-banking financial institutions to prepare periodic reports on their carbon footprints and offset a portion of their emissions via the carbon trading market reflect a clear direction to integrate environmental considerations into the core of financial and investment activities.
Source:Daily News Egypt
February 15, 2026 19:02 UTC
Banque du Caire signs $16.7m financing deal with Kandil Glass to fund Suez expansion
Banque du Caire has signed a new financing agreement with the Kandil Glass Group to support the company’s capital expansion, including the establishment of a new glass production facility in the Ataqa Free Zone in Suez governorate. The financing package includes a six-year medium-term loan worth $16.7m as part of an investment project with a total cost of up to $20.4m to establish Kandil Glass Industries in the free zone. The agreement also provides $8m and EGP 85.6m in additional financing for the existing Kandil Glass to fund capital expenditure (CAPEX). Bahaa El Shaffei, Deputy CEO of Banque du Caire, said the bank is keen to fulfil its development role by financing industrial projects with tangible economic impact. It also highlights Banque du Caire’s continued commitment to financing industrial investments and acting as a strategic partner in sustainable economic growth.
Source:Daily News Egypt
February 15, 2026 19:02 UTC
Egypt to advance government salaries for next two months to ease Ramadan pressures: Madbouly
Egypt will bring forward the payment of government salaries for the next two months to ease financial pressures on households during Ramadan and Eid al-Fitr, Prime Minister Mostafa Madbouly announced on Sunday. The move comes as part of a broader EGP 40.3bn social protection package. This includes five million families already enrolled in the “Takaful and Karama” programme, along with 10 million additional low-income households identified through official government databases. Agricultural support: EGP 4bn will cover price differences for wheat procurement, ensuring farmers receive fair compensation for the upcoming harvest season from late April to June. Madbouly stressed that the government aims to ensure the benefits of economic reforms reach citizens directly and alleviate household financial pressures.
Source:Daily News Egypt
February 15, 2026 18:55 UTC
Egypt launches EGP 40.3bn social protection package ahead of Ramadan: Kouchouk
Egypt has launched a new social protection package worth EGP 40.3bn to support low-income and vulnerable households ahead of Ramadan and Eid al-Fitr, Finance Minister Ahmed Kouchouk announced during a press conference on Sunday. Under the package, 10 million households registered in the ration card system will receive EGP 400 each during March and April 2026, at a total cost of EGP 8bn. In addition, 5.2 million families enrolled in the “Takaful and Karama” programme will receive an extra EGP 400 in cash support during Ramadan and Eid al-Fitr, amounting to EGP 4bn. A further 45,000 beneficiaries of child pensions and rural female leaders will receive EGP 300 each during the same period. EGP 3bn has been allocated to accelerate treatment for patients on waiting lists and critical cases to ensure timely medical care before Eid al-Fitr.
Source:Daily News Egypt
February 15, 2026 18:35 UTC
Golden Pillars signs agreement with Rotana Hotels to operate Swar Hotel in Shorouk City
Golden Pillars Development has entered into a cooperation agreement with Rotana Hotels to manage and operate Swar Hotel, its latest mixed-use project in Shorouk City. Swar Hotel is designed as a mixed-use development integrating hotel and commercial components. It represents Golden Pillars’ first hospitality venture in Shorouk City. Under the agreement, Rotana – which operates in more than 14 countries and manages nearly 22,000 rooms across 80 hotels – will oversee the full management of Swar Hotel. Officials at Golden Pillars said the project aims to create an integrated hospitality and commercial destination offering sustainable investment value.
Source:Daily News Egypt
February 15, 2026 18:33 UTC
SKY AD. Developments highlights flagship projects at Nile Property Expo in Doha
During the event, SKY AD. Developments showcased a portfolio of residential and investment projects across key destinations in Egypt. Among the highlights was Sky North in Ras El Hekma on the North Coast, positioned as a premium coastal development offering integrated leisure and residential amenities. The company also presented Blue Tree in the Golden Square district of New Cairo, which incorporates Blue Walk – a mixed-use commercial complex comprising retail, administrative and medical units. Developments operates across East Cairo, the New Administrative Capital and the North Coast, with ongoing expansion into emerging areas such as Sixth Settlement and West Cairo.
Source:Daily News Egypt
February 15, 2026 18:32 UTC
One of One partners with iRead to promote reading, cultural awareness in Egypt
One of One has announced a cultural partnership with iRead, a platform dedicated to promoting reading and knowledge across the Arab region. The collaboration aims to foster reading habits, improve focus and critical thinking in an era dominated by digital distractions, and create opportunities for dialogue and cultural engagement. The session explored the effects of excessive smartphone usage on attention and cognitive skills, highlighting reading as a tool to strengthen focus and awareness. As part of the initiative, One of One provided iRead platform subscriptions to Al-Nas Hospital, allowing patients and medical staff to access educational and cultural content. Engy El-Sabban, Co-founder of iRead, said the partnership aligns with the platform’s broader mission to make reading a sustainable habit and strengthen cultural awareness.
Source:Daily News Egypt
February 15, 2026 18:32 UTC
Gates Developments partners with SDC to integrate serviced apartments across flagship projects
Gates Developments has signed a strategic partnership with SDC, owner of the Farida real estate platform, to integrate residential and hospitality services across a number of its flagship developments in the New Administrative Capital, West Cairo, and the North Coast. Under the agreement, SDC will operate and manage serviced apartments under the Luxor Hospitality brand within Gates Developments’ CATALAN and VENIA projects in the New Capital. CATALAN spans 36 feddans in the R7 district and comprises 1,765 units, while VENIA extends over 40 feddans with a total of 1,792 units. The introduction of serviced apartments is intended to enhance operational efficiency and offer investors flexible, hospitality-oriented residential products. The collaboration is expected to optimise the utilisation of Gates Developments’ portfolio, which totals approximately 7,700 units, and respond to rising demand for hospitality-integrated residential offerings in Egypt’s emerging urban destinations.
Source:Daily News Egypt
February 15, 2026 18:15 UTC
JADEER to open second Hotel Indigo in Egypt through expanded partnership with IHG
JADEER Group has signed a new hotel management agreement with IHG Hotels & Resorts to launch its second Hotel Indigo property in Egypt, marking the brand’s first entry into the New Administrative Capital. The hotel will form part of a forthcoming mixed-use development that JADEER Group plans to introduce in the near future. This agreement represents the second collaboration between the two parties, following their earlier Hotel Indigo project in New Cairo. Under the agreement, IHG Hotels & Resorts will manage and operate the hotel while JADEER Group retains ownership. The agreement builds on the companies’ previous collaboration with Hotel Indigo Cairo – New Cairo, further extending JADEER Group and IHG’s partnership in the Egyptian market.
Source:Daily News Egypt
February 15, 2026 18:15 UTC
Egypt moves to boost fish exports to Italy through enhanced food safety cooperation
Egypt is seeking to expand its fish exports to Italy by strengthening bilateral cooperation on food safety standards and regulatory alignment, according to the National Food Safety Authority (NFSA). Discussions focused on enhancing technical cooperation and facilitating greater access for Egyptian fish products to the Italian market. El-Houby outlined the NFSA’s ongoing efforts to modernise Egypt’s food safety regulatory framework in line with international standards, strengthen inspection and control systems, and improve the competitiveness of Egyptian food exports in European markets. The Italian side commended the Authority’s progress in upgrading food safety infrastructure and expressed interest in expanding technical collaboration and knowledge exchange to support bilateral trade and investment. The objective is to ensure that Egyptian fish products fully comply with European standards, thereby enhancing their competitiveness and market share in Italy.
Source:Daily News Egypt
February 15, 2026 18:15 UTC
MBG Developments secures ministerial approval for 65-feddan Diplo East project in New Capital
MBG Developments has obtained ministerial approval No. 216 of 2026 for its Diplo East project in the New Administrative Capital, marking a key regulatory milestone ahead of construction. Diplo East is planned as a fully integrated residential community comprising six clusters designed to ensure privacy while incorporating expansive landscaped areas and natural water features, including artificial rivers and lakes. The project will feature a diversified residential mix, with approximately 70% of the total area allocated to villas and 30% to apartment buildings. The villa segment will include a variety of products, including Sky Villas, Garden Villas, Townhouses, standalone villas and mansions reaching up to 900 sqm.
Source:Daily News Egypt
February 15, 2026 18:15 UTC
Only 2 million of Egypt’s 55 million properties liable for tax after amendments: RTA
Ahmed Al-Sadiq, Head of Egypt’s Real Estate Taxation Authority (RTA), said that following recent amendments to the Real Estate Tax Law, only around 2 million property units out of an estimated 55 million nationwide will be subject to residential property tax. Al-Sadiq added that annual revenues from the amended tax on built residential properties are projected to reach approximately EGP 20bn. The changes are expected to significantly narrow the tax base, confining liability largely to higher-value residential units while preserving exemptions for the majority of homeowners. According to official data, Egypt’s total real estate wealth is estimated at 55 million units, comprising 47 million residential properties and around 8 million units classified as commercial, secondary or seasonal properties. Investment and digital transformationAl-Sadiq noted that the Real Estate Taxation Authority employs approximately 19,000 staff members across Egypt’s governorates.
Source:Daily News Egypt
February 15, 2026 18:01 UTC
BLD enters Egypt with EGP 2.5bn investment, partners with Al Futtaim to bring Carrefour to Matrouh
BLD Group has officially launched operations in the Egyptian market, unveiling an investment plan worth EGP 2.5bn aimed at developing and upgrading a portfolio of mixed-use real estate projects across the country. The company’s strategy focuses on integrated developments that combine residential, commercial and administrative components, positioning BLD as a new entrant targeting diversified urban projects in high-potential locations. BLD’s flagship launch is Lusail, a mixed-use development in Matrouh spanning 55,000 sqm. The project marks the company’s first strategic partnership with Majid Al Futtaim to open a Carrefour outlet in the governorate – a move expected to strengthen organised retail presence in the area. Beyond Lusail, BLD’s current portfolio includes “330”, a commercial development in Alexandria focused on food and beverage retail.
Source:Daily News Egypt
February 15, 2026 17:55 UTC
Environment Ministry investigates strange odours in Giza, deploys mobile monitoring units
Egyptian authorities have launched urgent environmental monitoring measures following complaints about unexplained odours in parts of Giza, as officials work to identify potential pollution sources. Minister of Local Development and Environment Manal Awad said a mobile environmental laboratory had been dispatched to conduct field measurements over three consecutive days at multiple locations across Giza to determine the origin of the emissions. The ministry has also ordered intensified, round-the-clock inspection campaigns, warning that legal action will be taken against any entities found responsible if violations are confirmed. Coordination with local authorities is ongoing to ensure a swift and effective response. Awad stressed that responding to citizens’ complaints remains a top priority, adding that environmental monitoring will continue until the root causes are fully identified and appropriate corrective and preventive measures are implemented.
Source:Daily News Egypt
February 15, 2026 17:55 UTC