Lozan Urban Development Group launches Methaq Development an Egyptian-Saudi partnership new entity with investments exceeding EGP 5bn - Daily News Egypt

Egypt’s Lozan Urban Development Group, the mother company which embraces several Egyptian and Emirati companies, has launched a new entity in an Egyptian-Saudi partnership under the name of “Methaq Development” to develop several distinctive urban projects in Egypt during the coming period with investments of up to EGP 5bn. Abdullah Al-Amoudi, Regional President of Methaq Development, expressed his happiness at his presence in his second homeland Egypt, and his new partnership with the Lozan Development Group, stressing that as Saudi businessmen they are happy to be present as investors in the land of Mahrousa, especially since Egypt is one of the most important countries that have strong economic relations with the Kingdom of Saudi Arabia. The company’s strategy is also based on identifying problems and developing solutions to them before planning any project, and this is the secret behind achieving this success, as we also rely on providing a real estate product that keeps pace with the new transformation and urban renaissance supported by the Egyptian state under the directives of President El-Sisi. “Egyptian real estate market is one of the important and vital sectors in the Egyptian economy and therefore the group aims to attract more foreign investments, especially Arab and African ones, by working on the export of Egyptian real estate abroad, after studying the opening of external headquarters of the group in both Saudi Arabia and the UAE in the coming period. Besides, working to encourage and attract more foreign investments in line with the vision of the state in achieving a strong and sustainable economy.” Mahmoud Zayed, Head of Marketing Sector of Lozan Group said.

November 25, 2022 00:57 UTC


AIC applies for golden license to manufacture in Egypt - Daily News Egypt

Mahmoud Kamel, CEO of AIC International Landmarks — which specialises in card issuance, security systems, and control and safety systems — said that the company submitted an application to the Cabinet to obtain a golden license to manufacture smart card chips in Egypt. In statements to Daily News Egypt on the side-lines of a round table held by the company, Kamel added that the company allocated investments worth EGP 100m over three years to manufacture electronic chips for smart cards, EGP 25m of which were for the first phase of the project. He added that the company plans to manufacture an electronic image storage device in cooperation with the Russian company TRASSIR through the manufacture of NVR NETWORK VIDEO RECORDER — which will be manufactured in Egypt for the first time — and the electronic chips used in smart cards, which is part of the strategic plan to have a research laboratory to develop technology chips and designation of a number of researchers. The company is also participating in the 2022 Cairo ICT Exhibition and Conference. During the exhibition, the company will display advanced technology and card issuance and encryption from the French company Evolis, and present solutions and services of other international companies such as the Ukrainian TISO, which specializes in electronic gates, and the French Somfy, which manufactures security barriers that prevent penetration.

November 24, 2022 01:55 UTC


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