Latest news with #MarwaAboAlmajd
Zawya
12-05-2025
- Business
- Zawya
Egypt's El Gouna launches Fanadir Shores project, targets 2027 delivery
Orascom Development announced on Monday the launch of Fanadir Shores, its latest residential project within the El Gouna integrated city on the Red Sea coast. Construction is expected to take one year, with delivery planned within two years, the company said in a press statement. The luxury residential project features 57 units spread across seven buildings with direct access to the sea and a private lagoon for boats, according to the statement. Unit sizes average 220 square metres with prices starting from $2.6 million to $4 million. In 2024, El Gouna recorded 11.8 billion Egyptian pounds ($234 million) in sales, up 63.8 percent from the previous year. Revenue rose 25.6 percent year-over-year to reach EGP 6.3 billion ($125 million). The developer delivered 371 units in 2024 and plans to deliver 410 units in 2025. (Writing by Marwa Abo Almajd Editing by Anoop Menon) (
Zawya
04-05-2025
- Business
- Zawya
UAE's AD Ports, Egypt's SCZONE sign 50-year concession to develop KEZAD East Port Said
Egypt's General Authority for the Suez Canal Economic Zone (SCZONE) and the UAE's AD Ports Group have signed a 50-year renewable usufruct agreement to develop and operate a 20-square-kilometre (sq km) integrated industrial and logistics park near Port Said on Egypt's Mediterranean coast. The park, to be known as 'KEZAD East Port Said,' will be developed in phases by AD Ports Group, with an estimated initial investment of $120 million allocated for Phase 1 works, including marketing, technical studies, and infrastructure. Construction on the first 2.8 sq km phase is scheduled to begin by the end of 2025. AD Ports Group will be responsible for financing, constructing, operating, and managing KEZAD East Port Said. Phase 1 will also feature a 1.5-kilometre quay wall to support future cargo terminal operations. Emirates Global Aluminium (EGA) and Egypt's Hassan Allam Holding have signed memoranda of understanding as potential anchor tenants. Hassan Allam will also explore further cooperation with AD Ports Group across additional industrial and logistics developments, including port-related projects in East Port Said and elsewhere in Egypt. AD Ports Group has been active in Egypt since 2022, acquiring regional logistics and maritime firms such as Transmar, TCI, and Safina B.V. It has also secured long-term agreements to operate cruise terminals at Red Sea ports, and is building a $200 million multipurpose cargo terminal in Safaga under a concession from the Red Sea Ports Authority. In December 2024, AD Ports Group appointed Hassan Allam Construction, the construction arm of Hassan Allam Holding, to build the Safaga multipurpose cargo terminal. SCZONE manages four industrial zones and six seaports across a total area of 455 sq km. Since mid-2021, it has signed 274 investment projects valued at $8.3 billion. (Reporting by Eman Hamed & Marwa Abo Almajd; Editing by Anoop Menon) (
Zawya
10-03-2025
- Business
- Zawya
DP World, Mawani inaugurates $800mln South Terminal project at Jeddah Islamic Port
DP World and Saudi Ports Authority (Mawani) inaugurated the new South Container Terminal at Jeddah Islamic Port developed at a total cost of 3 billion Saudi riyals ($800 million). The expansion, backed by a 30-year Build-Operate-Transfer (BOT) agreement, has more than doubled the capacity from 1.8 million twenty-foot equivalent units (TEUs) to 4 million TEUs while paving the way for a future capacity of 5 million TEUs with deployment of additional ship-to-shore equipment, DP World said in a press statement. According to the statement, the terminal spans a total quay length of 2,150 metres, including a deep-water quay with an 18-metre depth, capable of accommodating up to five ultra-large container vessels simultaneously Key elements include: Smart systems that slash gate transaction times, from two minutes to just 10 seconds, supported by IoT-enabled cargo tracking and AI-powered cargo tallying for precise record keeping. Automated and electrified yard cranes, along with an expanded fleet of quay cranes that will grow from 14 to 17 by the end of 2025, reaching 22 as the terminal scales up to 5 million TEUs. Capacity for refrigerated containers (reefers) has been expanded from 1,200 to 2,340 DP World is implementing initiatives to reduce CO₂ emissions at South Container Terminal by 50 percent in the next five years. Ongoing projects include a state-of-the-art facility for inspecting up to 75 reefers at one time —the biggest such port-centric facility in the Kingdom. The statement noted that the South Terminal project was completed over a period of three years. Adjacent to the terminal, DP World is investing in the 415,000 square metre Jeddah Logistics Park, the largest integrated facility of its kind in the Kingdom, which will offer state-of-the-art warehousing, distribution and freight forwarding services. (Writing by Marwa Abo Almajd; Editing by Anoop Menon)
Zawya
07-03-2025
- Business
- Zawya
DP World, Mawani launch $800mln South Terminal project at Jeddah Islamic Port
DP World and Saudi Ports Authority (Mawani) inaugurated the new South Container Terminal at Jeddah Islamic Port developed at a total cost of 3 billion Saudi riyals ($800 million). The expansion, backed by a 30-year Build-Operate-Transfer (BOT) agreement, has more than doubled the capacity from 1.8 million twenty-foot equivalent units (TEUs) to 4 million TEUs while paving the way for a future capacity of 5 million TEUs with deployment of additional ship-to-shore equipment, DP World said in a press statement. According to the statement, the terminal spans a total quay length of 2,150 metres, including a deep-water quay with an 18-metre depth, capable of accommodating up to five ultra-large container vessels simultaneously Key elements include: Smart systems that slash gate transaction times, from two minutes to just 10 seconds, supported by IoT-enabled cargo tracking and AI-powered cargo tallying for precise record keeping. Automated and electrified yard cranes, along with an expanded fleet of quay cranes that will grow from 14 to 17 by the end of 2025, reaching 22 as the terminal scales up to 5 million TEUs. Capacity for refrigerated containers (reefers) has been expanded from 1,200 to 2,340 DP World is implementing initiatives to reduce CO₂ emissions at South Container Terminal by 50 percent in the next five years. Ongoing projects include a state-of-the-art facility for inspecting up to 75 reefers at one time —the biggest such port-centric facility in the Kingdom. The statement noted that the South Terminal project was completed over a period of three years. Adjacent to the terminal, DP World is investing in the 415,000 square metre Jeddah Logistics Park, the largest integrated facility of its kind in the Kingdom, which will offer state-of-the-art warehousing, distribution and freight forwarding services. (Writing by Marwa Abo Almajd; Editing by Anoop Menon)
Zawya
20-02-2025
- Automotive
- Zawya
Egypt rolls out EV charging PPP initiative
Hassan Allam Utilities and Infinity have signed a shareholders agreement with state-owned Misr Petroleum and Gastec to establish a company focused on deploying electric vehicle (EV) charging stations across Egypt. This agreement will leverage the extensive filling station networks of Misr Petroleum and Gastec for installing and operating EV chargers at strategic high-traffic locations across the nation, according to statement issued by Infinity. The partnership, announced during the EGYPES conference on Thursday, supports Egyptian Ministry of Petroleum and Mineral Resources' strategy to advance sustainable mobility and diversify energy solutions, the statement noted. Infinity, through its Infinity EV business, operates 200 charging stations and 700 charging points across 16 governorates in Egypt. No financial details or timeline for the project's rollout were disclosed. (Writing by Marwa Abo Almajd; Editing by Anoop Menon) (
