Egypt strategic Projects: news, discussions & updates

[The SC]

A billion dollars factory will be built to produce 100,000 electric cars, with a comprehensive ban on traditional cars

 

[The SC]

An urgent mission.. Officially, Sisi leads an Egyptian delegation to Morocco with a dangerous deal.. What will happen?!

 

[The SC]

250 meter high and one billion dollars.. Forbes’ first skyscraper in the Administrative Capital

The new skyscraper is signed by some of the most famous architectural designers around the world

Dr. Mostafa Madbouly, Prime Minister, held a meeting to review the proposal submitted by the “Magnum” real estate company to establish the “Forbes” International Tower in the New Administrative Capital.

A partnership between Magnum Real Estate and Forbes International

Counselor Muhammad Al-Homsani, the official spokesman for the Presidency of the Council of Ministers, stated that the meeting reviewed the proposal submitted by the “Magnum” real estate company to implement the Forbes International Tower project in the New Administrative Capital, in cooperation with the “Forbes” international company.
He explained that the volume of direct investments in the project is scheduled to reach about one billion dollars, and this project comes as one of the best international designs that will add a distinctive architectural imprint that achieves the future vision of the Egyptian state through the New Administrative Capital by constructing a 250-meter-high building that preserves the environment and reduces... Carbon emissions, which is in line with the recommendations of the “COP-27” climate conference, according to which Egypt is committed to implementing a set of strategies for adapting to climate change and mitigating its effects.

Environmentally responsive architecture

The official spokesman added, “Forbes International Tower” is proposed to be one of the most attractive administrative and commercial towers, thanks to its architecture, unique office experience, and a distinguished set of commercial privileges, as the tower’s design is based primarily on the user’s experience with building technology. Smart, modern, seamlessly integrated for a flexible work environment, in addition to being a destination of sophistication and luxury.

The global Forbes Tower project aims to set a completely new standard for environmentally responsive architecture with the overall goal of achieving “net zero carbon emissions.” Therefore, the tower intends to play a vital role in reducing both the embodied and operational carbon of the tower. The tower’s strategy is also in line with The 2030 Sustainable Development Goals set by the United Nations.

Magnum's journey into the Egyptian real estate market

Magnum Real Estate Development Company is one of the entities affiliated with the Saudi Rawabi Holding Group, which has been working in the energy field for several years. The company began its journey in the Egyptian real estate market beginning in 2021, as it adopts many modern real estate concepts that suit the needs of customers at the present time, and it has Magnum has entered into a fruitful partnership with Forbes International.

During the coming period, Magnum is trying to adopt many concepts in the world of building and construction, and is helped in this by its cooperation with engineers Adrian Smith and Gordon Gill, as it aspires to build many sustainable and environmentally friendly communities, which makes Magnum among the best. Real estate development companies in Egypt, and to create new ideas to serve the real estate market.

Magnum Real Estate Development Company projects

Forbes International Tower Mall in the New Administrative Capital is Magnum's first project in Egypt, so it has placed high hopes on it and it receives great attention from it. It plans for the project to be environmentally friendly and at the same time carry the distinctive character of international buildings, as Forbes Mall has a strategic location. In the most important areas of the Administrative Capital, specifically in the Central Business District.

The project also has a European-style architectural design, as it consists of 55 floors that include commercial, administrative and medical units. Forbes International Tower Mall also has a space for a plaza and landscape, which always gives the units distinctive views, with a unique glass facade that resists heat and provides a good view from the inside. So that it is among the most beautiful malls in the Administrative Capital.

Magnum Real Estate Development Company is keen to achieve diversity in unit spaces in Forbes International Tower Mall in the Administrative Capital, as it is able to meet customer needs while providing competitive prices starting from 567,000 Egyptian pounds, so that investors can purchase the units offered for sale in the project, and it has provided Magnum provides all the facilities and services that investors need to have a comfortable experience.

Magnum Real Estate Development Partnerships

Magnum Real Estate Development Company was able to achieve successful partnerships with many international entities in order to achieve the best results, and the beginning was in cooperation with Forbes International magazine, which is one of the huge media institutions in America, in addition to the use of great expertise such as its cooperation with both engineer Adrian Smith and Gordon Therefore, Magnum is expected to create a boom in the Egyptian real estate market.

 

[The SC]

Officially, the first BRICS deals reach Egypt, and Sisi signs his largest deals with Europe. Egypt’s Central Bank announces its most important indicators

 

[The SC]

#urgent
#Egypt is preparing to sign 38 investment agreements worth 70 billion euros during the Egyptian-European Investment Conference, which will be held in Cairo today and tomorrow, according to an official document seen by Al-Sharq.
the details:

مصر تتأهب لتوقيع 38 اتفاقية بقيمة 70 مليار يورو - اقتصاد الشرق مع بلومبرغ

تستعد مصر لتوقيع 38 اتفاقية استثمارية بقيمة تصل إلى 70 مليار يورو خلال مؤتمر "الاستثمار المصري الأوروبي"، الذي يُعقد في القاهرة اليوم وغداً، بحسب وثيقة رسمية.

asharq.net

 

[The SC]

European Union Commissioner for Enlargement and Neighborhood Affairs Oliver Varheli during the Egyptian-European Investment Conference in Cairo: Announcing new European investments worth about 40 billion euros.

 

[The SC]

The private sector grows 65%

 

[Davey Crockett]

Egypt is currently under economic stress and need to beg to European nations to get some financing to help their economy.

Egypt Teeters On Brink Of Economic Ruin As Public Debt Mounts, Poverty Rate Soars​

Via Middle East Eye

Last autumn, Egyptian President Abdel Fattah el-Sisi gave a speech in the New Administrative Capital in Cairo, the $300bn project that will ultimately define his presidency.

He said hunger was a small price to pay for progress: "If progress, prosperity and development come at the price of hunger and deprivation, Egyptians, do not shy away from progress! Don’t dare say: ‘It is better to eat.'" This horrifying vision of hunger and deprivation is what awaits millions of Egyptians in the coming years.

A decade after ascending to the presidency, Sisi has pushed the economy to the brink of collapse. The symptoms are everywhere. A severe debt crisis is strangling the state budget, the economy is heavily militarised, billions have been invested in white elephants with dubious economic benefits, and the crown jewels of the Egyptian public sector are up for sale to meet mounting debt obligations.

This all stems from the military’s desire to consolidate power and wealth in its own hands at any cost. This will have dire consequences that will be felt for generations - and recovery will take a mammoth effort.

Millions more people have been pushed into poverty in recent years, a trend that is expected to continue for the foreseeable future. In 2022, the poverty rate reached 33 percent, up from 26 percent in 2012/13, as the regime continues its policy of shifting the costs of the debt crisis onto the poor and middle classes.

The most obvious manifestation of this is the regime’s austerity measures - most crucially, the 300 percent increase in the price of subsided bread, the staple food for the most vulnerable people, which was announced in May.

Transferring wealth​

This comes on the heels of price hikes for basic commodities, announced by the government in January. These measures are part of a comprehensive policy designed to transfer wealth from the poor and middle classes to the regime elites and their creditors.

The logic is simple: increased spending on mega-projects, financed by high-interest debt, has allowed the military to rapidly expand its economic footprint, while the repayment of debt is financed through the appropriation of public resources, which is in turn financed by a regressive taxation system.

 

[The SC]

Egypt announces the arrival of the “third long-term nuclear equipment” to the Dabaa reactor

The Nuclear Power Plants Authority in Egypt announced the arrival of the reactor core trap for the third nuclear unit to the Dabaa Specialized Port coming from Russia.​

 

[The SC]

Egypt Teeters On Brink Of Economic Ruin As Public Debt Mounts, Poverty Rate Soars​

Via Middle East Eye

Last autumn, Egyptian President Abdel Fattah el-Sisi gave a speech in the New Administrative Capital in Cairo, the $300bn project that will ultimately define his presidency.

He said hunger was a small price to pay for progress: "If progress, prosperity and development come at the price of hunger and deprivation, Egyptians, do not shy away from progress! Don’t dare say: ‘It is better to eat.'" This horrifying vision of hunger and deprivation is what awaits millions of Egyptians in the coming years.

A decade after ascending to the presidency, Sisi has pushed the economy to the brink of collapse. The symptoms are everywhere. A severe debt crisis is strangling the state budget, the economy is heavily militarised, billions have been invested in white elephants with dubious economic benefits, and the crown jewels of the Egyptian public sector are up for sale to meet mounting debt obligations.

This all stems from the military’s desire to consolidate power and wealth in its own hands at any cost. This will have dire consequences that will be felt for generations - and recovery will take a mammoth effort.

Millions more people have been pushed into poverty in recent years, a trend that is expected to continue for the foreseeable future. In 2022, the poverty rate reached 33 percent, up from 26 percent in 2012/13, as the regime continues its policy of shifting the costs of the debt crisis onto the poor and middle classes.

The most obvious manifestation of this is the regime’s austerity measures - most crucially, the 300 percent increase in the price of subsided bread, the staple food for the most vulnerable people, which was announced in May.

Transferring wealth​

This comes on the heels of price hikes for basic commodities, announced by the government in January. These measures are part of a comprehensive policy designed to transfer wealth from the poor and middle classes to the regime elites and their creditors.

The logic is simple: increased spending on mega-projects, financed by high-interest debt, has allowed the military to rapidly expand its economic footprint, while the repayment of debt is financed through the appropriation of public resources, which is in turn financed by a regressive taxation system.

Totally false premisess from A to Z.. only MB can write such posts for politically motivated reasons far from the economic realities..

 

[Davey Crockett]

Totally false premisess from A to Z.. only MB can write such posts for politically motivated reasons far from the economic realities..

Thank you.

The article and this thread presented two very different views of the Egyptian economy.

 

[The SC]

In addition to appointing the Chief of Staff and Minister of Defense, Sisi issued decisions appointing a number of officials to new positions:

Lieutenant General Mohamed Ahmed Zaki Mohamed, Assistant to the President for Defense Affairs.
Lieutenant General Osama Ahmed Rushdi Abdullah Askar, advisor to the president for military affairs.
Former Judge Omar Marwan as Director of the Office of the President of the Republic.
Major General Mohsen Abdel Nabi, Advisor to the President for Media.
Former Minister of Planning Hala Al-Saeed is an advisor to the president for economic affairs.