Shaimaa Al-Aees

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Latest by Shaimaa Al-Aees


Egyptian economy growing at very reasonable rate: IMF

Washington DC – Gian Maria Milesi-Ferretti, the deputy director in the Research Department of the International Monetary Fund (IMF), told Daily News Egypt that Egypt’s economy is doing well as it is growing at a very reasonable rate. Milesi-Ferretti noted that, however, it was a difficult moment for emerging markets earlier in 2018 due to capital …

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Egypt’s economic growth to record 5.5% in 2019: IMF

Washington, DC – Egyptian economy will grow by 5.5% this year, the International Monetary Fund (IMF) said in its World Economic Outlook (WEO) April 2019, unchanged from its expectations in October 2018. Further, the IMF expected that the country’s economic growth will reach 5.9% in 2020. However, Egypt’s economic growth forecast was estimated at 6% in …

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MG Developments begins implementation of HQ project in New Cairo

MG Developments has begun the construction of the Headquarters (HQ) business project placed in the first sector on 90th street in the Fifth Settlement, New Cairo, on 11,000 sqm. The company launched the HQ project last November, and it comprises of commercial and administrative units, with total investments worth EGP 1bn. Chairperson of MG Developments, …

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IFC, Ministry of Petroleum help boost critical energy infrastructure in Egypt

The International Finance Corporation (IFC), a member of the World Bank Group (WBG), announced on Wednesday a joint effort with Egypt’s Ministry of Petroleum and Mineral Resources that aims to support Egypt in becoming a regional energy hub for the eastern Mediterranean region as well as improve its energy infrastructure. The IFC signed a memorandum …

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CFC exhibits Oriana IV, Aura, Podium in Cityscape Egypt

Cairo Festival City (CFC), one of Al-Futtaim Group’s real estate projects, exhibited Oriana IV, an extension of Oriana villas, during the Cityscape exhibition. The Oriana IV offers townhouses and twin-houses, according to the Managing Director of Al-Futtaim Real Estate Co, Ashraf Ezz El-Din. Cityscape exhibition is being held at Egypt’s International Exhibition Center in New …

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City Edge launches Baroque project in NAC during Cityscape Exhibition

City Edge Developments (CED) launched its new project Baroque to be established in the R5 area at the New Administrative Capital (NAC). The Baroque project is designed to revive the Khedivial Downtown Cairo with its architecture, gardens, roundabouts, and streets. Baroque’s architecture is characterised by the domes, massive use of decoration and ornaments, attention to …

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Sodic to invest EGP 3.7bn in constructions in 2019

The Six of October Development & Investment (SODIC) plans to direct EGP 3.7bn in projects’ constructions in 2019, according to its Managing Director and board member, Maged Sherif. Sherif told Daily News Egypt that the company is pumping EGP 1.45bn for paying lands’ cost in 2019. Additionally, Sherif noted that the company has invested EGP …

Shaimaa Al-Aees