alekhbaryia Archives - الصفحة 37 من 57 - جريدة الاخبارية

HP Expands Local Footprint in Egypt to Support Vision 2030 Priorities

Posted on مايو 26, 2025مايو 26, 2025 by maryem

HP Inc. (NYSE: HPQ), a global technology leader, is strengthening its presence in Egypt with a

growing local team and a clear focus on supporting

digital transformation and workforce development in line with Egypt Vision 2030
HP announces the opening of its office in Cairo and plans to expand its local presence,

especially by expanding its teams over the coming three years. The company is scaling its

operations to meet the country’s rising demand for technology that enables business agility,

talent development, and increasingly inclusive economic growth.

A channel partners event in Cairo this week brings together 250 local and

international stakeholders to explore how the company’s solutions

can help drive innovation and support digital transformation across all sectors.

“Egypt has set a clear direction with Vision 2030 and the Digital Egypt Strategy – putting technology,

education, and innovation at the center of national development,”

said Helena Herrero, President of HP Southern Europe, Middle East and Africa.

“This creates a strong environment for companies like HP

to support national goals through technology, skills development, and innovation.”

Making technology available to as many people as possible and bringing the latest

technologies to businesses to support their growth is a strategic priority for HP.

In particular, the company supports the shift toward more flexible, digitally connected

workplaces through secure hybrid infrastructure, AI-enabled devices, and advanced print technologies.

These capabilities are particularly relevant as Egypt focuses on expanding digital access,

modernizing education, and preparing a future-ready workforce.

“With the largest portfolio of solutions across personal systems, printers, collaboration systems,

peripherals and services, HP is uniquely positioned to put the benefits of AI in the hands of businesses and employees.

One of our strengths is that we have always worked and

continue to work with a large ecosystem of industry-leading partners, as well as distribution partners,

to offer our users the best experiences”, Herrero concluded.

By expanding its local footprint and network, HP aims to support the people,

the partners and the skills that will help build a digitally enabled workforce

and support Egypt’s broader ambitions and the future of work,

especially to strengthen the digital infrastructure, develop the growth of SMEs and

improve access to technology in the public and private sectors.

Cornerstone Development is taking part in the 15th Nile Real Estate Exhibition in Doha, Qatar

Posted on مايو 25, 2025مايو 25, 2025 by aberabozaher

Cornerstone Development is taking part in the 15th Nile Real Estate Exhibition in Doha, Qatar

Under the sponsorship of Egyptian Prime Minister Dr. Mostafa Madbouly, Cornerstone Development will take part in the 15th edition of the Nile Real Estate Exhibition, which will take place from May 26 to 29, 2025, at the Doha Exhibition and Convention Center in Qatar. In addition to unveiling several notable units in its projects in the Administrative Capital and Mostakbal City in New Cairo, Cornerstone Development is providing its clients with a plethora of offers and facilities throughout the expo.

Cornerstone Development

According to Engineer Ashraf Boulos, Chairman and Managing Director of Cornerstone Development, the company is eager to take part in significant real estate shows and events outside of Egypt because it believes that exporting Egyptian real estate is essential to bringing hard currency into the country and bolstering the economy.

He noted that Egypt has enticing prospects that allow it to make strides in this crucial area, such as appealing cities and areas, high real estate values, and the existence of significant real estate development firms with skills and capabilities that provide a unique product.

He clarified that the company has been eager to execute unique and creative projects with the best design and finishes since its founding in order to satisfy the demands of international clientele. He pointed out that between 40 and 50 percent of the company’s overall revenues come from customers outside of Egypt.

According to Cornerstone Real Estate Development’s Sales Director, Tamer Boulos, the company stands out for being the first to deliver its units that are 80% completed. This system, which Cornerstone invented for the Egyptian market, enables clients to get the apartment with ceramic facades and tiles, allowing for quick move-in and relocation.

During the Nile Real Estate Exhibition in Qatar, he made note of the company’s provision of prestigious units in its RED project in Mostakbal City, New Cairo. With units of different sizes, Cornerstone is providing Mostakbal City’s lowest percentage of built-up area through the project. In Mostakbal City, New Cairo, Cornerstone will carry out the RED project in three phases.

The project consists of villas of various models: duplexes and townhouses, with ground floor and three upper floors. The total number of villas in the project is 250 villas and 400 apartments. Every effort is made to guarantee the units’ privacy and independence.

One of the biggest consulting organizations has been hired by Cornerstone to help conceptualize the project, by means of integrating innovative design ideas. Despite the need for about 22% of the land to be built up, Cornerstone has only constructed on 17% of it. Roads, services, landscaping, and green areas occupy the remaining space.

Cornerstone Development

Tamer Boulos went on to say that during the Nile Real Estate Exhibition, Cornerstone would also introduce units in The Curve project in the New Administrative Capital. Delivering units is expected to start in December 2025.

One of the earliest initiatives in the New Administrative Capital’s R8 district was The Curve. It is situated in one of the most noticeable areas, right next to the Green River and near the airport, the Presidential Palace, the ministries, and the Mohammed bin Zayed Axis.

With 15 buildings spread across four blocks, it has a total built-up area of 100,000 square meters. Residential apartments, duplexes, and penthouses with expansive open areas are among the several types of units.

AJAD Developments Launches with Egyptian-Saudi Partnership and Ambitious Plans for East Cairo

Posted on مايو 25, 2025 by Fatma abdelhamed

AJAD Developments has officially launched its operations in Egypt’s real estate sector through a strategic Egyptian-Saudi partnership, grounded in deep expertise and a bold vision for development both locally and internationally.

Counselor Onsy Ammar, a board member of AJAD Developments, stated that the company aims to introduce a modern real estate development model driven by innovation and long-term planning. He emphasized the company’s focus on creating integrated communities that address the evolving needs of a new generation of clients and investors in both Egypt and Saudi Arabia.

Ammar added that the launch of AJAD Developments reflects the strong confidence that foreign investors have in the Egyptian real estate market. He noted that Egypt continues to offer attractive investment opportunities, particularly through partnerships with top-tier Egyptian developers, which in turn encourage further foreign capital inflows.

He revealed that the company plans to develop a diverse portfolio of projects across Egypt, with the first to be announced soon in East Cairo.

Ammar also highlighted that AJAD Developments represents a distinctive model of Egyptian-Saudi collaboration, combining extensive experience with robust financial capabilities from both nations. This strategic alliance, he said, gives the company a competitive edge in delivering large-scale projects that meet the expectations of both markets.

He stressed AJAD’s commitment to providing innovative development solutions aligned with global standards in design and sustainability. At the heart of AJAD’s approach is a focus on building fully integrated urban communities that serve a wide range of societal needs.

He concluded by noting the growing trend of Egyptian and Saudi investors jointly launching projects in both countries—driven by strong bilateral ties and substantial government support. He affirmed that both the Egyptian and Saudi markets present fertile ground for serious, forward-looking investment ventures.

NI Capital Launches “Sahmy 70” – The First Investment Fund in Egypt to Track the EGX70 Index

Posted on مايو 25, 2025 by Fatma abdelhamed

NI Capital, the investment arm of the National Investment Bank, announced the launch of a new issuance of its existing fund “Sahmy” under the name “Sahmy 70.” This marks the first issuance in the Egyptian market aimed at replicating the performance of the EGX70 Index.

The index includes 70 of the most liquid and active companies listed on the Egyptian Exchange, making it a key indicator of activity within this vital segment of the economy. Subscription to the new issuance “Sahmy 70” will be open starting Tuesday, May 27, 2025.

“Sahmy 70” offers high liquidity through daily subscription and redemption, a unique feature among specialized investment funds. This allows investors to manage their investment positions efficiently and with flexibility, enhancing the fund’s appeal to those seeking instruments that offer both attractive returns and high liquidity.

The EGX70 Index has delivered a strong performance over the past years, achieving a cumulative return of 649% over the last ten years, compared to 233% for the EGX30 Index. In 2024 alone, the index rose by 49% compared to only 19% for the EGX30, reflecting the growing role of the mid- and small-cap segment in the Egyptian economy.

The launch of “Sahmy 70” adds further value to NI Capital’s diverse range of investment funds, which includes NI Capital Daily Yield Money Market Fund – “Siula”, NI Capital Fixed Income Securities Fund – “15/30”, GIG Misr Hayat Takaful Cash Fund with cumulative return and Sharia-compliant structure – “Makaseb”, NI Capital Egyptian Equity Fund with periodic cumulative return – “Sahmy”, and the National Charitable Investment Fund for Education – “Education for Life”.

This variety reflects the company’s commitment to offering integrated investment solutions that cater to different investor segments and align with their financial goals.

In this context, Mr. Mohamed Metwally, CEO and Managing Director of NI Capital, stated: “We are pleased to launch ‘Sahmy 70’ as the first fund in the Egyptian market that mirrors the performance of the EGX70 index, which tracks medium-sized companies listed on the stock exchange.

This issuance reflects our belief in the importance of offering innovative financial tools that meet investors’ needs and provide them with the opportunity to invest in the mid-cap segment; a sector that has historically delivered higher average returns than large-cap companies, and one in which we continue to see significant growth potential.”

Mr. Mohamed El-Nabarawy, Head and Managing director of the Asset Management Sector at NI Capital, said: “The launch of ‘Sahmy 70’ marks a new step in NI Capital’s innovation journey. It is a unique product that opens new horizons for both individual and institutional investors, giving them access to an asset class that was previously difficult to reach.

The fund also offers investment tools that enhance portfolio diversification, as the target index (EGX70) is based on an Equal Weight Index system, giving each company within it the same weight, which concentration risk”

It is worth noting that the launch of “Sahmy 70” builds on the series of successes NI Capital has achieved in the field of asset management. The original “Sahmy” fund has demonstrated strong performance since its launch in December 2022, achieving a cumulative return exceeding 126% through April 2025, reflecting the efficiency of the company’s investment management and which reduces concentration risk and executing effective investment strategies that meet the aspirations of a wide range of investors.

Slvr Communities sells out RVR project phase one in record time

Posted on مايو 24, 2025 by aberabozaher

Slvr Communities has announced the complete sell-out of phase one of its RVR project in record time, highlighting the strong confidence clients have placed in the development and underscoring the continued high demand within Egypt’s real estate market.

Building on this success, the company is now unveiling the second phase of the project, which introduces administrative offices, medical clinics, and retail units for the first time.

Slvr Communities

Located in the prime area of Fifth Settlement, New Cairo, overlooking Gamal Abdel Nasser Axis, the RVR project spans over 2,000 square meters and features a commercial, administrative, and medical complex consisting of a ground floor and four upper floors.

Slvr Communities carefully selected this strategic location for its first development, aiming to deliver an exceptional real estate model that will become a landmark in Fifth Settlement.

The newly launched second phase offers attractive and flexible payment plans, starting with down payments as low as 10% and installment periods of up to eight years interest-free, along with a special 5% discount on administrative offices. These payment options have been thoughtfully designed to benefit both clients and the company.

This phase presents a valuable opportunity for clients seeking smart investments with high returns, offering distinctive units and flexible payment schemes that make it an ideal choice for those interested in commercial or administrative spaces in one of New Cairo’s most sought-after locations.

Aljar Development launches a high-end residential and hospitality project in East Cairo

Posted on مايو 24, 2025 by maryem

In a bold new move, Aljar Development has unveiled its flagship project,

Aljar British District, in collaboration with NHMC Group UK.

This mixed-use urban development combines residential, hotel, commercial, administrative,

Aljar

and educational spaces, offering a seamless blend of luxury and modern living through comprehensive

, state-of-the-art amenities
Designed to elevate the standard of urban living, the development is being executed

alongside a group of trusted partners to ensure it meets the highest standards of global quality.
The announcement was made during a high-profile event attended by senior government officials,

business leaders, and celebrities from arts and sports fields,

as well as leading journalists and media representatives.
Throughout the ceremony, Aljar Development highlighted the project’s key features

and unique advantages, emphasizing its dedication to building innovative communities

that improve quality of life while meeting the evolving demands of both local and international real estate markets.
Speaking about the project’s significance, Dr. Ahmed Abdel Mageed—Member of Parliament, Deputy Chairman of the Housing Committee, and founder of Aljar Development—described the Aljar British District as a groundbreaking shift in the concept of integrated residential and hospitality communities.
Dr. Abdel Mageed highlighted that this is the first project of its kind to seamlessly combine luxury living with world-class medical and educational services within a fully integrated urban environment.
He further explained that the development features a variety of luxurious residential units designed to meet diverse client needs, alongside a specialized medical city spanning over 24 acres, which accounts for approximately 35% of the total project area. This medical city is being developed by the UK-based company NHMC.

Dr. Abdel Mageed added, “We have carefully selected a strategic and prime location for the project in East Cairo,

one of the fastest-growing and most promising areas in the Egyptian real estate market.

The site offers easy access via major roads and highways, boosting the

project’s investment potential while providing residents with a comfortable and private living experience.”
He also revealed that Aljar British District is situated directly on Suez Road,

opposite the Open Air Mall in Madinaty. The project is just minutes from the New

Administrative Capital and Cairo International Airport, underscoring its smart,

accessible location. Additionally, it is conveniently close to major residential communities,

educational institutions, and medical centers.
Spanning over 46 acres, the project maintains a building density of no more than 20%,

allowing the majority of the area to be dedicated to lush green spaces and

integrated services—designed to foster a healthy, sustainable urban environment, he disclosed
Dr. Abdel Mageed revealed that construction work on the Aljar British District

has already commenced ahead of its official sales launch—an initiative that

reflects the company’s strong financial standing, seriousness, and unwavering

commitment to delivering on its promises. The project is scheduled for completion

and handover within a three-year timeframe, underscoring Aljar Development’s proactive

approach and strategic planning.
Designed as a multi-purpose destination, the development includes luxury homes,

a state-of-the-art medical center, and a comprehensive educational zone, he disclosed.
Additionally, the development features a social club, water elements, and an educational

zone that occupies 35% of the total area.

The project also includes expansive green spaces, water features,

central air conditioning, and kitchens outfitted to the highest quality standards

As part of the event’s major announcements, Dr. Ahmed Abdel Mageed concluded,

“We take pride in our partnership with the NHMC Group UK to offer an internationally

accredited medical education program that matches the quality of the world’s leading universities,

but at a more affordable cost than studying abroad.

This opens up opportunities for a wider range of students both within Egypt and internationally

This initiative represents the start of an ambitious vision to make a meaningful

impact on healthcare and education, eliminating the need for costly travel or excessive expenses”
For his part, Dr. Naser Fouad His Majesty’s Deputy Lieutenant of Cheshire and

Chairman of NHMC Group UK and Egypt, said, “Today marks the start of a new era in

medical education and healthcare across the Middle East

We are proud to be part of this achievement and remain committed to

delivering world-class educational and healthcare services that train top-tier medical professionals,

positioning Egypt among the region’s leaders in this field”
He added, “With this project, we aim to establish Egypt as a key destination for

regional medical tourism by offering a fully integrated model managed to the highest international standards.”
Highlighting the broader vision behind the initiative, Dr. Fouad explained that

the university will provide advanced academic programs in medicine and health sciences,

representing a significant leap forward in Egypt’s higher education sector

It will host the first accredited British medical school in the country,

awarding degrees directly from the esteemed Aston University
He pointed out that this project goes beyond infrastructure—it is an investment in people

“Through this collaboration, we are dedicated to training the next generation of

doctors to meet the highest global standards and delivering healthcare services that

truly impact lives,” he concluded.
During his speech at the event, British Ambassador to Cairo, Gareth Bayley,

expressed his pride in the strong and longstanding relationship between Egypt and the United Kingdom
The ambassador stated that the two countries share a deep strategic and economic partnership,

particularly in the fields of education, investment, and healthcare
Bayley stated that the collaboration between the NHMC Group and Aljar Development is a successful

example of international cooperation that opens new horizons for achieving sustainable development.

It also reflects both nations’ commitment to advancing joint efforts on ambitious projects

that serve future generations
He added, “The success of NHMC in launching a university that offers accredited British degrees

in Egypt demonstrates our shared dedication to delivering world-class medical education

The United Kingdom will continue to support the expansion of higher education through

strategic partnerships that benefit the youth of Egypt and the wider region”
With over 17 years of experience in Egypt’s real estate market, Aljar Development

has built a strong track record, delivering more than 2,000 residential and commercial

units across Cairo and Alexandria. Its portfolio includes notable projects such as Aljar Sheraton,

Aljar Suez Road, Valori El Thawra, Valori Smouha, and Valori Maamoura
The company also partnered with the New Urban Communities Authority and

the Armed Forces Engineering Authority to develop the Moroug Green City project.
Committed to upholding the highest international standards,

Aljar Development is executing its latest project through strategic alliances with leading industry specialists.

It has partnered with Concorde El Salam for the development of upscale serviced units,

enlisted NAMAA PFM to manage the commercial and administrative zones,

and commissioned Raef Fahmy Consulting to lead the architectural design

Cairo Heights announces rebranding to “C DEVELOPMENTS” among its ambitious expansion plan

Posted on مايو 24, 2025 by maryem

Cairo Heights Company announced rebranding and developing its visual identity to “C Developments”

among its ambitious plans, as a part
of the company’s strategy to keep pace with its expansion plans and its preparations

to launch a number of new projects in the coming period

Mohamed Rahal, C Developments Chief Commercial Officer,

Cairo Heights

said that this development in the visual identity and brand’s name reflects the company’s

new vision and its focus on real estate development with more advanced concepts to

accommodate with global developments and to apply the clients needs in real estate projects,

assuring the company’s commitment to provide added value to the Egyptian real estate

market through innovative and diverse projects

He added that this change reflects a new phase of growth and development in the company’s

business and the nature of the projects it offers to its clients, besides strengthening

its presence as a leading real estate development company that owe

over 15 years of cumulative competitive experience in putting real estate development standards

in Egypt, as the company managed to offer a distinguished group of innovative projects

by enhancing construction quality since its inception.

He pointed that the company has developed more than 80 projects in various areas in New Cairo,

such as Beit Al Watan, New Narges, and North House, and the company’s projects are distinguished

by their modern design and high quality, in addition to commitment to deliver projects

before the scheduled timetable,

which reflects its credibility in the Egyptian real estate market.

He emphasized that the company is currently developing “Ajan” project in New Zayed

, as a villas boutique compound, as it mixes between modern architectural design

and extensive green areas, to reach an integrated community due to

its prime location in New Zayed for those seeking both residential and real estate investment

He added that the project is strategically located in the heart of New Zayed,

close to major axes and highways, such as 26th of July Axis, the Ring Road,

Dahshur Link, and Boulevard Road, which provide residents with easy access to vital areas in Cairo,

besides it is also close to major shopping malls, international schools, and hospitals,

making it an ideal location for modern life, noting that the project boasts a modern architectural design

that combines both luxury and simplicity in urban planning, and offers a variety of

residential units with different areas to suit all needs, featuring elegant facades and luxurious finishes,

ensuring a high standard of living.

He explained that the company owns a diverse projects portfolio both in the areas where

these projects are implemented in East and West Cairoas the company selects the locations

of its projects accurately to ensure the best investment value for both the company and its clients,

besides the company’s investment activities also vary between residential, commercial, and administrative.

He noted that C Developments seeks to achieve its vision by offering high standard projects

with a high return on investment to its clients, focusing on innovation and excellence in all real estate

development phases, adding that the company plans to announce soon its latest projects

following its rebranding, which will meet the aspirations of its current and targeted clients.

He revealed the company’s plan to launch a diverse projects portfolio in the coming period,

among an ambitious expansion plan that apply client’s expectations by offering distinguished real estate projects

with the highest quality standards, and the company also plans to launch a

new project and will announce its details in the coming period

Sunrise Ignites the Red Sea Shores with “Top Model 2025” Global Competition

Posted on مايو 24, 2025 by maryem

40 contestants from 30 countries compete for the “Top Model” crown in the heart of Hurghada and Marsa Alam

Fashion Meets Tourism: A world-class fashion festival unfolds on the Red Sea sands

In a dazzling international event that reflects Egypt’s growing prominence

as a global destination for major events, the latest

edition of the “Top Model of the World 2025” competition has kicked off in Hurghada,

hosted by Sunrise Resorts & Cruises

More than 40 models from 30 countries are taking part in the prestigious competition,

which runs until May 30 and includes a series of activities in both Hurghada and Marsa Alam.

The contestants will participate in fashion shows, professional photo shoots,

and a variety of entertainment and tourism experiences — all taking place at the newly opened

Sunrise Alura Aqua Park Resort, a luxurious destination

that fuses modern elegance with authentic Egyptian hospitality.

Habiba El Shaer, Vice Chairperson of Sunrise Resorts and member of the Egyptian Hotels Association,

stated that hosting this global event aligns with the group’s strategy to position Egypt

as a world-class tourism destination.

“We are committed to organizing international-scale events that draw global attention

to Egypt and showcase its safety, stability, and vibrant tourism offerings,” she added.

The competition program also includes tours to iconic archaeological and tourist attractions in the region,

promoting Egypt’s diverse tourism landscape — from leisure and coastal tourism

to cultural and eco-tourism.

The event is drawing wide international media coverage, including global

fashion magazines and TV networks, turning it into a

powerful promotional platform for Egypt and the Red Sea region.

It is also attracting a strong local and international audience of tourists,

fashion enthusiasts, and residents.

By hosting such a prestigious competition, Sunrise once again demonstrates

its ability to organize world-class events, solidifying its leadership in the hospitality

.sector and further boosting Egypt’s presence on the global tourism map

Al-Massiyah Welcomes 1,300 Egyptian Pilgrims from the Ministry of Social Solidarity Delegation in Makkah

Posted on مايو 23, 2025مايو 23, 2025 by aberabozaher

Al-Massiyah Pilgrims Services Company welcomed 1,300 Egyptian pilgrims from the Ministry of Social Solidarity’s official Hajj delegation upon their arrival in Makkah. This marks another step in the company’s mission to deliver an exceptional pilgrimage experience, in line with the highest standards of service and care.

Al-Massiyah

The Egyptian pilgrims, who are part of the charitable societies’ group, were warmly received at one of the group’s partner hotels in Makkah. During the reception, Al-Massiyah representatives reassured the pilgrims of their full preparedness to serve them with excellence, working around the clock to ensure their comfort, safety, and spiritual focus throughout the Hajj journey.

As part of the welcome, the company offered a variety of gifts, including Zamzam water, dates, roses, and traditional Saudi coffee—adding a cultural touch to the festive and spiritual atmosphere. The event was attended by key figures from the Tawafa sector and service centers.

Pilgrims expressed their deep gratitude and joy at reaching the holy land, praising the generous reception, seamless organization, and the professionalism that reflected the Kingdom’s dedication to serving the Guests of Allah.

Ali bin Hussein Bandakji, Chairman of Al-Massiyah, emphasized the honor of serving pilgrims, stating:
“Welcoming and serving the Guests of Allah is a noble duty that we cherish. Our entire team works in harmony to ensure that pilgrims perform their rites with ease and peace, in line with the directives of our wise leadership.”

Bander bin Abdulrahman Damnahouri, Vice Chairman of the company, stressed the importance of creating a safe and dignified environment for pilgrims:
“We apply the highest quality standards from the moment of arrival until the end of the pilgrimage, ensuring that each pilgrim feels at home and among family.”

Mouhammad Aqeel Damnahouri, Al-Massiyah’s advisor, noted that comprehensive preparations have been made:
“Our top priority is the comfort and well-being of every pilgrim. We are committed to enriching their journey with high-quality services—spiritual, educational, and logistical—from arrival to departure.”

Ali bin Abdullah Alloush, Head of Service Center No. 5 responsible for the charitable societies’ pilgrims, concluded:
“Our field teams are well-trained and fully prepared to offer their utmost in service. We pray for the acceptance of every pilgrim’s Hajj and for ease in performing their rituals.”

This reception is part of Al-Massiyah’s broader operational plan that aligns with Saudi Arabia’s Vision 2030, which aims to elevate the standards of Hajj services and offer a safe, memorable, and spiritually enriching experience to pilgrims from all over the world.

SAFWA URBAN DEVELOPMENTS PARTNERS WITH INTERNATIONAL WORKPLACE GROUP

Posted on مايو 21, 2025 by Fatma abdelhamed

Safwa Urban Development (SUD) signed a strategic partnership agreement with International Workplace Group, the world’s largest hybrid workspace platform, adding new Regus centers to four of the developer’s flagship projects across Egypt in the cities of Cairo, Mansoura, and New Damietta.

This collaboration reflects SUD’s strategy to deliver cutting-edge business environments, while enhancing the operational efficiency and market competitiveness of its developments.

The agreement is also in line with IWG strategy to meet the sharply rising demand for top class flexible working space in the area.

Set to open in 2025, the four centres at SUD distinguished projects will provide space for established firms and start-ups across a range of industries, while IWG’s Design Your Own Office service allows companies to tailor their space entirely to their requirements.

The new Regus location will include facilities including private offices, meeting rooms, co-working and creative spaces.

SAFWA URBAN DEVELOPMENTS

Eng. Ali Shalaby, Board Member of Safwa Urban Developments (SUD), commented on the partnership, stating: “This strategic agreement with IWG, through its Regus brand, underscores SUD commitment to delivering world-class operational models that align with international standards.

Integrating Regus’ proven expertise in flexible workspace solutions, reflects our vision of creating integrated business communities that thrive in Egypt’s competitive real estate landscape.”

Shalaby added: “The selection of Regus as our partner was driven by their unparalleled global track record in managing flexible workspaces, which strengthens the long-term investment value of SUD’s developments.

This marks our second collaboration with Regus, following the success of our European branch partnership, further solidifying the trust between our organizations.”

Youssef Najeeb, Country Manager for IWG in Egypt stated: “Our continuous openings in Cairo come at a time when more and more companies are discovering that flexible and platform working is incredibly popular with employees, improving their work-life balance and satisfaction, while also providing a multitude of benefits to companies. Our workplace model, along with local partners collaborations, enables existing businesses to increase productivity and allows for new businesses to scale up or down at significantly reduced costs while providing access to thousands of locations, contributing to the local economy through job creation and investment.”

SUD boasts an extensive portfolio of projects across Egypt, including prominent developments in Greater Cairo, the New Administrative Capital, Obour City, New Damietta, and New Mansoura.

With investments totaling EGP 18 billion in the New Administrative Capital alone, SUD continues to lead way in creating innovative residential, commercial, and mixed-use spaces tailored to diverse market needs.

The addition of International Workplace Group’s latest locations to SUD projects comes on the heels of the business posting its highest-ever revenue, cashflow and earnings growth in its history and achieving rapid network growth, signing 899 new centres to its network in 2024 and opening 624 new workspaces.

As the ongoing shift towards hybrid working accelerates, the potential for further growth is exponential with an estimated 1.2 billion white collar workers globally and a total addressable market of more than $2 trillion.

International Workplace Group remains the global leader in hybrid working – featuring over 4,000 locations in more than 120 countries with members able to access all of the locations and business services via the IWG app.

EFG Holding Delivers Resilient Operational Performance, reflected in the First Quarter Results of 2025

Posted on مايو 21, 2025 by aberabozaher

EFG Holding, a financial institution with a universal bank in Egypt and the leading investment bank in the Middle East and North Africa (MENA), announced today its results for the first quarter of 2025. EFG Holding reported revenues of EGP 5.6 billion in 1Q25, marking a 34% Y-o-Y decline. However, this decrease was entirely attributable to the exceptionally high base in 1Q24, which included the effect of the large devaluation of the EGP against the US Dollar, translating into a substantial foreign exchange (FX) gain.

EFG Holding

Barring this FX impact, EFG Holding demonstrated exceptional operational performance, with all business lines showing resilience and strength. Excluding the impact of any FX gains over both periods, the Group’s revenues would be up 31% Y-o-Y, underscoring the Group’s robust execution and momentum across its core activities, mainly the Investment Bank, EFG Hermes, and the Non-Bank Financial Institutions (NBFI) Platform, EFG Finance, followed by the Commercial Bank, Bank NXT.

The Group’s total operating expenses (including provisions & ECL) decreased 29% Y-o-Y to EGP 3.5 billion, on lower employee expenses, lower provisions & ECL, and despite higher other G&A. Accordingly, the Group’s employee expenses/revenues came in at 37% in 1Q25 compared to 41% in 1Q24. EFG Holding’s net operating profit and net profit before taxes both lost 41% Y-o-Y. Consequently, net profit after tax and minority interest slipped 34% Y-o-Y to reach EGP 1.2 billion.

Karim Awad

Karim Awad, Group CEO of EFG Holding, commented, “Our first quarter results reflect the strength and resilience of EFG Holding’s diversified platform and geographic footprint, even as we cycle a uniquely high base from last year.

The year-on-year decline in revenues and net profit is predominantly attributable to the exceptional FX gains and unrealized investment revaluations recorded in 1Q24 following the large EGP devaluation that saw the EGP lose more than half of its value against the US Dollar in March 2024.

When adjusted for these extraordinary items, our performance this quarter demonstrates solid operational growth across all lines of business and a clear trajectory of growth. Our Asset Management platform continues to grow, with AUMs on the rise, while our Investment Banking division executed landmark transactions during the quarter, including our leading role in the IPO of Nice One in KSA and the ADNOC Gas secondary offering in the UAE—further cementing our position as the advisory house of choice in the region.”

EFG Hermes, the Group’s Investment Bank, experienced a buoyant start to the year across its Sell-side and Buy-side divisions, with revenues posting solid Y-o-Y growth. However, this increase was pressured by Holding & Treasury Activities recording lower revenues Y-o-Y, as the comparable period included the impact of the EGP devaluation. This resulted in EFG Hermes’ revenues declining 54% Y-o-Y to EGP 2.9 billion. Excluding the impact of any FX gains across both periods, EFG Hermes revenues would be up 30% Y-o-Y.

Holding & Treasury Activities revenues decreased 91% Y-o-Y to EGP 418 million. Sell-side revenues added 46% Y-o-Y to reach EGP 2 billion, and buy-side revenues rose 50% Y-o-Y to EGP 449 million, with both Egypt and regional AUMs also posting increases. EFG Hermes operating expenses declined 45% Y-o-Y to EGP2 billion, on lower employee expenses, lower provisions & ECL, and despite higher other G&A expenses. EFG Hermes reported net profit after tax and minority interest of EGP 652 million, down 54% Y-o-Y, on the decline of Holding & Treasury Activities.

EFG Finance, the Group’s Non-Bank Financial Institutions (NBFI) platform, started the year strong with its revenues rising 23% Y-o-Y to reach EGP 1.3 billion, supported by higher revenues generated by Tanmeyah, followed by Valu, and despite FX gains recorded in the comparable period mainly by Leasing and Factoring through EFG Corp-Solutions.

Tanmeyah’s portfolio grew a healthy 36% Y-o-Y, representing an absolute increase of EGP 1.9 billion in 1Q25 versus 1Q24. Valu issued EGP 4.2 billion worth of new loans in 1Q25, up 61% Y-o-Y. EFG Finance’s operating expenses rose 12% Y-o-Y to EGP 900 million, on higher employee expenses and other G&A, overshadowing lower provisions and ECL. Net profit after tax and minority interest more than doubled, up 108% Y-o-Y to EGP 297 million, boosted by higher profitability reported by all lines of business.

Bank NXT, the Group’s Commercial Bank, delivered a steady performance, honing in on strong portfolio growth. Its revenues increased 11% Y-o-Y to EGP 1.4 billion in 1Q25, largely driven by higher net interest income, due to interest rate hikes of 800 bps during 2024, in addition to growth in interest-earning assets. Operating expenses, including provisions & ECL, rose 19% Y-o-Y to EGP 624 million in 1Q25, primarily due to higher salaries, as well as higher other G&A expenses. The Bank’s net profit after tax added 5% Y-o-Y to reach EGP 498 million (of which the Group’s share is EGP 255 million) in 1Q25, as revenue growth outpaced the growth in expenses.

“During the quarter, our Brokerage business continued to thrive, especially in markets such as Kuwait and the UAE, where our geographic diversification strategy bears fruit. Bank NXT is expanding its portfolio and building a strong pipeline of deals that will support growth and have impactful long-term results. In Private Equity, we’re proud to report our first quarter of management fees from the Saudi Education Fund—a key milestone in our regional expansion story. Meanwhile, our Non-Bank Financial Institutions (NBFI) platform remains steadfast in delivering comprehensive financial solutions to clients across the spectrum, from individual retail customers to businesses of all sizes.

Valu’s progress towards listing represents a significant milestone for the fintech leader, underscoring its remarkable growth trajectory in Egypt and solidifying its position as a trusted provider of innovative financial services. Tanmeyah remains a strong performer in its segment. Looking ahead, we remain focused on executing our strategic priorities, cementing our regional footprint, and creating sustainable value for our shareholders.,” concluded Awad.

EFG Holding’s 1Q25 financial results and management’s commentary are available.

Al-Rajhi Tawafa Group for First Arrivals of Egyptian Economic-Tier Pilgrims

Posted on مايو 21, 2025 by Fatma abdelhamed

In a spiritual and joyful atmosphere, the holy city of Makkah witnessed a warm and heartfelt welcome for the first group of Egyptian pilgrims traveling under the economic-tier tourism category, who arrived on the initial flights designated for this segment.

Upon their arrival, they were received by Al-Rajhi Tawafa Group, the Saudi company tasked with serving Egyptian tourism pilgrims in the economic tier. The pilgrims were welcomed with symbolic gifts, dates, Zamzam water, and flowers. Senior executives from the group were present to greet the pilgrims and oversee the reception.

This reception marks the beginning of a comprehensive operational plan developed early on by Al-Rajhi Tawafa Group to ensure the comfort of pilgrims and provide services that meet their expectations, allowing them to perform their rituals with ease and peace of mind. The plan was prepared in close coordination with the Egyptian Chamber of Tourism Companies and under the direct supervision of the Egyptian Ministry of Tourism and Antiquities.

A Seamless Experience from Arrival to Rituals

Field teams from Al-Rajhi Tawafa Group immediately began executing their duties upon the pilgrims’ arrival, including the provision of dedicated buses to transport them to their accommodation in Makkah, along with high-quality services designed to ensure their safety and comfort — all aligned with the best standards in serving the Guests of Allah.

Bandar Abdullah Al-Rajhi, CEO of the group, affirmed the organization’s full commitment to delivering a seamless and secure Hajj experience for Egyptian pilgrims. He highlighted the continuous coordination with the Saudi Ministry of Hajj and Umrah, the Egyptian Ministry of Tourism and Antiquities, and the Chamber of Tourism Companies, all working in synergy to facilitate movement, streamline procedures, and enhance the overall experience.

Al-Rajhi also praised the support and efforts of the Egyptian Ministry of Tourism and Antiquities and the Chamber’s joint committees in both Makkah and Madinah for their active role in assisting Egyptian pilgrims throughout their spiritual journey, reflecting the depth of cooperation between the two countries in serving the pilgrims.

Rajhi”:We are honored to serve the pilgrims of the Holy Mosque”

“We are honored to serve the pilgrims of the Holy Mosque,” said Al-Rajhi.
“It is a noble duty and a source of pride. In preparation for this blessed season, we developed a detailed operational plan in partnership with relevant authorities to ensure that Egyptian economic-tier pilgrims receive a safe, distinguished, and spiritually fulfilling Hajj experience — in line with the Kingdom’s Vision 2030 goals for serving pilgrims.”

He added that the group has deployed its full human and technical capacities at pilgrims’ accommodation sites, applying the highest standards of hospitality and service excellence to ensure a spiritually uplifting environment. Pilgrims are provided with a comprehensive package of services including reception, transport, accommodation, meals, guidance, and culturally relevant educational programs to enhance their religious experience.

It is worth noting that this Hajj season will witness the arrival of over 33,000 Egyptian tourism pilgrims across various service tiers.