Alexandria Port Achieves Record Income of EGP 1.5 Million in May, Says Deputy PM Kamel El-Wazir
Lieutenant General Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Transport and Industry, announced on Thursday, July 4, 2024, that Alexandria Port achieved record income in May, totaling EGP 1.5 million. This milestone, reported by multiple news and media sources, was reached following the addition and operation of the Tahya Masr Terminal. Sources: AL Mall News - Youm7 - El watan.
Orascom Development Egypt Secures Extended Development Timeline for Makadi Heights
Cairo, July 4, 2024 – Orascom Development Egypt (ORHD) announced that its subsidiary, Makadi Heights for Tourism Development, has accepted the Egyptian Tourism Development Authority's (TDA) request for an additional payment of USD 5.6 million. This payment secures an 8-year extension for developing Makadi Heights' remaining land bank. The sum includes a USD 1.1 million downpayment, with the remaining USD 4.5 million to be paid over ten years in equal installments. This extension will allow ORHD to revise the master plan, extend sales launches, strategize commercial areas, and enhance value creation for clients and shareholders.
Source: Company Disclosure
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