News Archives - Bridjes

1.5bn EGP real-estate development announced


Amwal, the Kuwaiti based real estate subsidiary of Eskan Global is to commence construction of a 180 feddans housing compound.

The development, along with the Cairo-Alexandria Desert Road, is expected to cost 1.5bn EGP.

The project represents the first development in Egypt for Amwal, and is expected to start once licensing and land ownership issues are resolved.

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Huge developments for the Suez Canal Economic Zone


The first phase of a significant development plan for the Suez Canal Economic Zone is expected to be completed by 2030, with the second and last phases by 2050.

A further $1bn, approved by the Suez Canal Authority, will also be invested in the development of three ports. The projects will be based in Ain Sokhna and East Port Said to increase overall storage capacity.

The development is expected to include the development of a logistics hub, residential area, industrial zones, plus two 450 sqm development projects in West Qantara and East Ismailia.

These are expected to include six ports, although it isn’t yet clear which project phase these will be developed in.

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Exporting to Egypt & the MENA region webinar recording


We recently hosted a free, informative webinar on maximising opportunities in Egypt and the MENA region? If you missed the webinar, you can download a copy here.

This fast growing region offers many opportunities to UK companies across various sectors from renewable energy, specialist manufacturing and construction through to architecture and transportation.

The webinar will provide you with an overview of the region, potential opportunities and also an insight into business issues and etiquette.

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Toyoto Tsusho plans for new power station


Japanese company, Toyoto Tsusho (part of the Toyota motor group) has met the Egyptian Electricity company to discuss the construction of a new 1.3 GW power station.

The combined cycle plant, worth an estimated $1.5bn, will consist of two 650MW units.

Further talks between Japanese companies and the Electricity Ministry are expected over the coming months, in conjunction with the revival of a previous memorandum of understanding.

This is expected to see the development of a new thermal energy plant with Itochu Corporation, a further 1GW of generation capacity with Sumimoto Corporation and an additional Thermal Plant with Marubeni Corporation and El Sewedy.

Click here for further details.

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Exporting to Egypt & and the MENA region – webinar 27th July 2.30pm


Interested in exporting to Egypt or MENA?  Would you like to find out more about the opportunities available in this high growth region?

On July 27th at 2.30pm, Bridjes will be running a free 40 minute webinar. During this session, we will be covering a number of key areas:

  • The case for exporting to Egypt and MENA
  • Key growth sectors
  • Typical opportunities available to UK business
  • Doing business: a cultural insight
  • How to access this market

The webinar will help you plan your first steps in the region, and give an ideal insight into some of the excellent projects currently being developed by many other European and International companies.

You can register for the webinar by clicking here.

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Construction plans for the new Administrative Capital


According to Egyptian media, plans are progressing for further construction within the Administrative Capital.

With 2bn EGP assigned to the first stage of housing construction, Coprosa Prime (an Egyptian/Spanish partnership), is looking to extend involvement within the MENA region.

A further 4bn EGP of investment is expected at a later stage.

Click here for more details.

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5 new solar projects for Egypt


In a major $650 million investment, Scatec Solar will be creating 5 new solar projects with a combined capacity of 250 MW.

Three facilities are expected to be developed in Benban, with 2 in Zafarana.

According to the Daily News Egypt, a consortia of 7 banks have agreed to finance 75% of the projects.

Click here for details.

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10,000 new ‘Green Homes’ for Egypt


According to Al Ahram, Italian building materials company, Schnell Home, has signed to help with the development of 10,000 subsidised ‘green’ homes in Badr City, Egypt.

According to a statement by the Egyptian Housing Minister, the project will take 12 months.

In a 2015 article by SeeNews Renewables, there were c $5 billion US of ‘Green’ investments awaiting sign off in Egypt.

These investments are attracting a wide range of suppliers from across the world, including: REC Solar USA, Siemens, Scatec Solar, SkyPower and Acwa.

Click here for further details.

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Wind power boosted in Egypt with significant new deal


Danish wind turbine manufacturer, Vestas, are to sign a deal with the Egyptian Ministry for Electricity to build wind farms in the East and West Nile areas.

The scheme will involve an area of 1600 kmsq, with a 12 month wind speed and topographical study, and is expected to generate a capacity of 2.2 GW.

This deal is one of several being signed by western manufacturers of green energy technology.

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Global Real Estate company, Colliers, highlight growth opportunities in Egypt

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Colliers International, who have recently announced the opening of a new Egypt office, have suggested that the Cairo real estate market is maturing, giving rise to a demand for more mixed-use developments.

They also suggest that there is potentially an increased demand for more hotel/hospitality offerings from International brands.

Click here for details.

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Egyptian Transport Ministry sign 40 EGP billion worth of deals

Continuing infrastructure developments and investments in Egypt have seen a total of 40 billion EGP deals with companies from across the international private sector.

Up to 10 billion EGP worth of deals are expected to be given to French companies on the back of recent trade deals.

Developments include the upgrading of the national railway network and Cairo Metro.

Click here for details.

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Colliers International Strengthens MENA Operations with Egypt Office


Colliers International, the global Real Estate company, has announced the opening of a new office in Cairo.

The corporate office has opened in response to increased interest and investments in Egypt and the MENA region, against a backdrop of long term growth.

The office will provide advice to real estate developers, users, owners and investors across Egypt.

Click here for details.

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Egypt to become largest global destination for BP investment by 2020


According to Egyptian Daily Al Masry Al Youm, Egypt is to become the largest investment destination by BP in 2020.
At present, almost 40% of hydrocarbon output in Egypt is produced by BP, and future investment will see the company almost double it’s exposure.

Total financial exposure to Egypt is expected to be in the region of $25 billion.

This significant investment is on the back of  similar announcements by companies in Germany, France and China, as Egypt continues with a significant program of development.

Click here for further details.

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Bridjes attend the Innovation in Government conference in Cairo

Bridjes attend the 3rd PPP Investment Summit in Cairo

The two-day conference was held on 11th and 12th October 2015, in Cairo. The conferenced focused on ways to develop the top government executives in Egypt, and drew on successful international experiences. The conference focused on three main strands:

  • Innovation in Strategies: Success stories of how other countries managed to fix their economies (experiences from China, South Korea, Germany and Malaysia)
  • Innovation in Recruiting: Retaining the best calibre in government top executive positions (experiences from Europe, US, India, South Korea, Singapore and UAE)
  • Innovation in Systems: Focus on e-government solutions (e-health, e-education, e-payment and e-justice)

We learnt a good deal from the excellent presentations and from the discussions we had with participants, government officials and with the conference organisers: theT20 Group, which comprise a few hundred Egyptian alumni of the world’s top 20 business schools. The conference was supported by, and help under the auspices of the Ministry of Planning, highlighting the government’s commitment to reform and development.

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Bridjes attend the 3rd PPP Investment Summit in Cairo

Bridjes attend the 3rd PPP Investment Summit in Cairo

The two-day international summit was held in Cairo on 19th and 20th October 2015, and offered an excellent opportunity to learn about new PPP project pipeline and gain insight about the evolving Egyptian market. It was particularly useful to hear first-hand from several experts and government officials about opportunities for the private sector in transportation, ICT, infrastructure, energy and building sectors.

The summit included a valuable session on the progress of the Suez Canal Zone programme, and insights from international financial institutions including the EBRD, AfDB, EIB and the World Bank. We enjoyed the summit, learned from some excellent presentations, and made many good contacts.

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EBRD votes to upgrade Egypt to ‘country of operation’ status

Business Insights

EBRD votes to upgrade Egypt to ‘country of operation’ status: The European Bank for Reconstruction and Development (EBRD) voted on Wednesday to name Egypt as one of its countries of operation, according to a statement from Ittihadiya. The statement notes that the vote was unanimous save for one abstention, with the dissenting state going unnamed.

Unnamed diplomatic sources speaking to Al Mal pointed the finger at Turkey, which is a reasonable claim as Egypt enjoys good relations with all other 63 member countries of the bank. If the source is accurate, Turkey may have based its objection on the pretext of political requirements under Article 1 AEB defining the Bank’s mandate. Egypt is a founding member of the Bank, and first began the process of ascension as a country of operation in 2011, with the Bank’s Board of Directors approving the first phase of induction, which included technical cooperation.

Ittihadiya welcomed the vote, noting that Egypt being named a country of operation “will increase the scope of activities and investment of the EBRD in Egypt as well as its participation in the development process in the near future. This will support and advance the private sector, including small and medium sized enterprises (SMEs), and to finance joint ventures between the private and public sector.”

EBRD’s overview page on its activities in Egypt is here; the bank has invested EUR 762 mn in 21 projects in Egypt since 2014, with the private sector receiving 56% of the bank’s investment. EBRD has invested in everything from the Cairo Metro to Faragalla and Merlon Petroleum; check out their list of investments here.

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About Us

London-based consultancy specialised in transferring British and European expertise to Egypt and the MENA region. We provide business insights, we track and manage projects, and we enable our clients to access new opportunities, whilst mitigating their risks.