The European Investment Bank is providing up to $90 million to support the first phase of the Dandara solar and battery storage project in Egypt. Backed by an EU guarantee, the initiative features a 569 MWp solar plant and a 100 MWh battery system supplying clean energy to industrial producer EgyptAlum. Commercial operations are targeted for April 2028.
Hassan Allam Utilities, the Alexandria Port Authority and Al Tarek Capital Real Estate Asset Management have signed a tripartite agreement to explore a 273,000-square-metre logistics, distribution and re-export hub at Dekheila Port in Egypt. Attended by Egyptian Transportation Minister Kamel Al-Wazir, the project aims to enhance supply-chain efficiency and strengthen trade links across the Eastern Mediterranean.
The European Bank for Reconstruction and Development is arranging a US$ 265 million syndicated loan for Africa’s largest solar PV plant in Minya, Egypt. Developed by Nefer Menya, a joint venture between Infinity Power and HAU Energy B.V., the 1.2 GW installation includes a 600 MWh battery storage system. Part of a US$ 566 million debt package, the facility will supply clean electricity to power 1.4 million homes.
IHG Hotels & Resorts has expanded its Egyptian footprint after entering into a management agreement with Kleek Development for Crowne Plaza New Cairo. Set to open in the first quarter of 2031, the 250-key hotel will sit within Sixth Settlement in East Cairo. The development will offer four restaurants, six meeting spaces, a spa, and leisure facilities to cater to growing regional business and leisure demand.
Banque Misr has granted an EGP 10 billion long-term credit facility to Founders Real Estate Marketing Company, a subsidiary of Hyde Park Real Estate Development Company. The eight-year loan will finance the acquisition of a residential project from the New Urban Communities Authority and cover related operational costs. The agreement supports Egypt's Vision 2030 by promoting integrated urban development and broader economic growth.
A new joint venture between Innovo Build and REDCON Construction has secured a contract exceeding 12 billion Egyptian pounds for Modon Developments' flagship project in Egypt. The alliance will deliver infrastructure and contracting works for the "DP03 East" package at "Wadi Yam" in Ras El Hekma. Spanning 323,000 square metres, the 21-month project includes over 660 residential units, a commercial mall, scenic lakes, landscaping, and road paving.
