The move reflects Egypt’s ongoing efforts to diversify financing instruments, broaden its investor base, and secure sustainable funding sources for development priorities.

In a statement issued on Wednesday, the Ministry of Finance said the new eight-year issuance, carrying a yield of 6.7%, attracted strong interest from international investors, with subscription requests exceeding the targeted issuance size by more than fivefold.

According to the ministry, proceeds from the bond sale will be directed toward financing development projects aimed at improving healthcare and education services, while strengthening investment in human capital.

The ministry added that Egypt is currently repaying more external debt than it is borrowing in an effort to reduce the outstanding external debt of budget-sector entities. It noted that the government is targeting an annual reduction in external debt ranging between $1bn and $2bn.

The statement also highlighted the government’s proactive management of geopolitical tensions and global economic challenges, saying these measures have helped reinforce investor confidence and sustain strong demand for Egyptian debt issuances.

The ministry further noted that maintaining access to stable external development financing sources has contributed to improving market sentiment toward Egypt and supporting confidence among international investors.

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During meetings with Varun Chandra and Minouche Shafik, economic, trade, and investment advisers to the British prime minister, Abdelatty highlighted Egypt’s macro-economic reforms, its “Industry 2030 Strategy”, and a “State Ownership Policy” aimed at empowering the private sector and stabilising the foreign exchange market.

The foreign minister also met with chairmen, chief executives, and representatives of UK investment funds, urging them to capitalise on Egypt’s free trade agreements and opportunities in the Suez Canal Economic Zone. He pointed to the government’s “Golden Licence” programme, which is designed to fast-track strategic projects, as a tool for companies seeking access to Middle Eastern and African markets.

British business representatives expressed interest in exploring new cooperation opportunities and expanding their investments, acknowledging improvements in Egypt’s investment climate.

In a separate meeting with the House of Commons Foreign Affairs Committee, chaired by Emily Thornberry, Abdelatty discussed the upcoming formation of an Egyptian-British friendship group in the Egyptian parliament. Foreign Ministry spokesman Tamim Khalaf stated that Abdelatty expressed a desire for the Speaker of the House of Commons and committee members to visit Egypt to enhance bilateral coordination on both economic investments and ongoing regional challenges.

Addressing broader geopolitical issues during a panel at the Royal Institute of International Affairs (Chatham House), Abdelatty cautioned that regional escalation threatens international shipping and energy markets. He stressed that military solutions will only deepen crises, stating that Cairo is working with regional and international partners to support a US-Iranian negotiation track.

Abdelatty noted that recent visits by President Abdel Fattah el-Sisi to Gulf nations underscored that Gulf security is an integral part of Egypt’s national security, whilst rejecting any violations of Arab states’ sovereignty. He reaffirmed Cairo’s support for national state institutions and political solutions to conflicts in Sudan, Libya, Yemen, Syria, and Lebanon, adding that an independent Palestinian state based on the June 4, 1967 borders, with East Jerusalem as its capital, remains the core of regional stability.

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The announcement came during Abdelatty’s meeting with World Bank Vice President for the Middle East and North Africa Ousmane Dione and International Finance Corporation (IFC) Vice President for Africa Ethiopis Tafara to discuss enhancing cooperation and supporting economic development.

During the meeting, Dione praised Egypt’s economic performance, noting that the economy has shown resilience against the fallout of regional escalation thanks to structural reforms and the adoption of a flexible exchange rate. He added that the government’s reforms have bolstered financial and monetary stability, improved the investment climate, and supported economic empowerment and social protection.

Abdelatty outlined the government’s commitment to continuing its comprehensive economic reform programme, highlighting the development of the state IPO programme and the expansion of its listed companies. Empowering the private sector is a top government priority, he said, noting that the state is creating an attractive investment environment through tax and customs incentives and the digitisation of services.

The foreign minister also stressed the importance of building on the outcomes of the World Bank President’s visit to Cairo in March. He called for expanding cooperation in health, water, energy, food security, and digital transformation, while maximising the benefits of the 2023-2027 strategic partnership programme.

Additionally, Abdelatty expressed a desire to broaden cooperation with the IFC in the electricity, tourism, and agriculture sectors, as well as in small and medium-sized enterprises. He also discussed opportunities to collaborate with the Multilateral Investment Guarantee Agency to support state-owned enterprises and maximise asset utilisation.

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Rostom affirmed that Egypt is pursuing a comprehensive development vision aimed at promoting sustainable growth, improving the investment climate, and expanding private sector participation. He stressed that entrepreneurship remains central to government priorities, given its role in driving innovation and creating sustainable employment opportunities for youth.

The minister noted that the ministry is coordinating with relevant entities to build an integrated system that supports innovation by simplifying procedures, improving access to finance, and advancing digital transformation, steps designed to enhance Egypt’s competitiveness regionally and internationally.

On infrastructure, Rostom revealed that the government is developing an innovative financing model that combines public resources, private sector investment, and foreign capital. This mechanism, he explained, will enable major national projects to be funded more efficiently and sustainably, building on Egypt’s recent achievements in energy, transport, and urban development.

For her part, Almud Weitz reaffirmed the World Bank’s commitment to supporting Egypt’s efforts, praising the resilience of Egypt’s tourism sector amid regional challenges. She added that the Bank is conducting intensive consultations with investors and private sector stakeholders to identify opportunities and design innovative solutions that support green and sustainable tourism in Egypt.

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During his remarks, Rostom highlighted the depth of cooperation between Egypt and the OECD, describing it as a long-standing and evolving strategic partnership based on supporting evidence-based policymaking, strengthening institutional development, and achieving inclusive and sustainable economic growth.

The minister said a key milestone in relations between Egypt and the OECD dates back to 2005, when Egypt became a founding partner in the OECD’s Middle East and North Africa Initiative, laying the groundwork for a sustainable institutional framework for dialogue and knowledge exchange.

He added that cooperation has continued to expand over the years, reflecting Egypt’s increasing alignment with OECD standards and frameworks.

Rostom also reviewed Egypt’s economic reform programme launched in 2016, which was anchored in Egypt Vision 2030 and aimed at restoring macroeconomic stability, enhancing competitiveness, and expanding social protection programmes.

The minister highlighted the closing conference of the OECD country programme, held in Cairo on 4 May in the presence of Prime Minister Mostafa Madbouly and the OECD secretary-general.

He said the event reviewed the outcomes of five years of close cooperation and marked the launch of 10 strategic reports prepared by the organisation covering priority sectors including innovation, investment, productivity, green growth, governance, and women’s economic empowerment.

According to Rostom, the reports represent an important resource for supporting evidence-based policymaking in Egypt.

He stressed that the country programme has played a pivotal role in strengthening institutional capacities, improving coordination among government entities, and embedding OECD standards into national policymaking mechanisms, helping ensure the long-term sustainability of the programme’s impact.

On follow-up mechanisms, Rostom said the Ministry of Planning and Economic Development has developed a dedicated electronic platform for the programme, enabling project managers across national entities to update implementation progress and monitor different aspects of cooperation, thereby improving coordination and enhancing the efficiency of programme management.

The minister added that the programme’s impact has extended regionally and internationally. In May 2025, Egypt assumed co-chairmanship of the OECD’s Middle East and North Africa Initiative on “Governance and Competitiveness for Development” for the 2026–2030 period, in addition to co-chairing the Women’s Economic Empowerment Forum.

He said the appointments reflect Egypt’s growing role as an active partner in regional and international policy dialogue.

Looking ahead, Rostom revealed that the ministry is leading broad consultations with national entities and the OECD to determine the priorities of the programme’s second phase.

He said the next phase aims to become more focused and targeted by deepening structural reforms in competitiveness, governance, and private sector development, while further integrating OECD standards and tools into national systems to support institutional reform and improve public policy efficiency.

Rostom concluded by saying that the upcoming phase of cooperation will focus on enhancing the competitiveness of the Egyptian economy, strengthening the capacity of state institutions to adopt more efficient and sustainable policies aligned with international standards, and supporting Egypt’s long-term development priorities.

The Egyptian country programme has received broad praise from representatives of OECD member states, including officials from the European Union, the United Kingdom, Turkey, Switzerland, Portugal, Greece, Germany, Austria, and Italy, who commended its role in supporting and accelerating economic reforms in line with international best practices.

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Trump stated that the United States would “eventually” gain access to Iran’s deeply buried uranium stockpile, adding that the US Space Force was monitoring the site. “If anyone goes near the buried enriched uranium, we will know about it and we will blow it up,” he said.

The president stressed that military operations against Iran had not fully ended, clarifying that he never declared the fighting over but only said Iran had been “defeated.” He added that Tehran had been “militarily defeated” and lacked effective naval, air, and air defense capabilities.

Trump said the United States had eliminated “three layers” of Iran’s leadership and remained capable of continuing military operations for “another two weeks” and striking additional targets inside Iran, noting that roughly 70% of Washington’s objectives had been achieved. He added that rebuilding Iran’s capabilities would take years even if strikes stopped now, reiterating that Washington would never allow Tehran to obtain a nuclear weapon. “If Iran had acquired a nuclear weapon, it would have used it against Israel and the Middle East,” he said.

Iran, meanwhile, maintained a defiant tone amid mixed signals over prospects for renewed diplomacy. Iranian President Masoud Pezeshkian said the Iranian people would “never submit to the enemy,” insisting that talks did not mean surrender or retreat. He argued that Iran’s adversaries were trying to shift the conflict into the “economic arena” after failing militarily, urging Iranians to remain united and reduce energy consumption.

Iranian state television quoted a military spokesman as saying any new attack on Iran would be met with “new weapons, new warfare methods and new battlefields,” while another official warned that countries complying with US sanctions would “certainly face difficulties” crossing the Strait of Hormuz.

The Revolutionary Guards escalated their rhetoric, warning that any attack on Iranian oil tankers would trigger “violent” strikes on US centers and hostile ships in the region. The commander of the Guards’ aerospace force said Iranian missiles and drones had “locked onto American targets and enemy ships” and were awaiting launch orders.

Against that backdrop, Iran’s state news agency reported that Tehran had sent its response to a US proposal to end the war through Pakistani mediation, adding that negotiations at this stage would focus on ending the regional conflict.

Qatar continued its mediation efforts. The Qatari foreign ministry said Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani discussed the ceasefire and de-escalation efforts with his Saudi and Iranian counterparts. Doha stressed the need for all sides to engage with mediation efforts and address the roots of the crisis through dialogue, while emphasizing that freedom of navigation was “a non-negotiable principle.” It warned that closing the Strait of Hormuz or using it as leverage would deepen the crisis and threaten regional security.

Qatar also condemned a drone attack on a commercial cargo vessel in its territorial waters, describing it as a “blatant violation” of international law and freedom of navigation.

Meanwhile, Kuwait and the United Arab Emirates said they had dealt with drones over their territories despite the ceasefire in place since April 8, highlighting the fragility of the truce and persistent security concerns across the Gulf.

The Wall Street Journal, citing informed sources, reported that Israel had established a secret military base in the Iraqi desert to support air operations against Iran and had struck Iraqi forces that came close to discovering the site during the early days of the war. The report said the base had been set up with US knowledge.

The continued hardline rhetoric from both sides, despite ongoing diplomatic contacts, suggests the current calm remains fragile and vulnerable to collapse, particularly with unresolved disputes over Iran’s nuclear program, Gulf shipping security, and the US military presence in the region.

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Forbes selects its award recipients based on their role and contributions to accelerating the growth of the real estate market in the Middle East. The 2026 list highlights leaders at real estate development companies that are shaping cities and major projects across the region. It features a diverse range of companies, from established firms to emerging developers working in residential, commercial, hospitality, and mixed-use projects.

The list includes 47 leading companies from the United Arab Emirates, followed by Saudi Arabia with 21 companies, and Egypt with 17 companies.

According to the IMARC Group, the Middle East real estate market has seen significant growth, driven by increasinginfrastructure projects and rising investment in non-oil sectors. Its value reached $420.5bn in 2025 and is expected to reach $849bn by 2034.

Malash brings 30 years of global experience in operations management, including five years in the real estate industry. Since joining M squared in 2021, his experience has been instrumental in accelerating the company’s growth within Egypt’s expanding real estate market.

He oversees a portfolio of real estate projects that combine sustainability and design to meet client needs while achieving operational excellence. Under Malash’s leadership, M squared has launched projects including Masyaf Ras AlHekma inthe North Coast; MIST, a mixed-use urban community in New Cairo; and 31WEST, designed for luxury living and sustainable development in the 6th of October City.

Before transitioning into real estate development, Malash spent 25 years in the oil and gas sector at oilfield services company Schlumberger. He joined as a junior field engineer in 1996 and rose to hold key roles, including Vice President of Global Supply Chain and Shared Services. He also served as President of Testing Services Product Line, where he oversaw worldwide operations.

Through these roles across Europe, Africa, and the Middle East, he led diverse teams, optimised large-scale global projects, and delivered results under challenging market conditions. His ability to manage multidisciplinary projects and navigate regulatory and market complexities across various countries has positioned M squared in creating sustainable, customer-driven communities.

Malash holds a Bachelor’s degree in Mechanical Engineering from the University of Alexandria and an Executive MBA from Erasmus University. He also received advanced executive training at Harvard University, IMD Business School, and the London School of Economics, academic achievements that bridge his technical expertise with strategic leadership.

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US Treasury Secretary Scott Bessent declared that Iran does not control the strait, asserting that the United States has “full control” over the passage. He urged international partners to increase pressure on Tehran, framing the dispute as a test of international resolve. US Central Command reinforced this position, reporting that two US-flagged commercial vessels transited the strait safely and denying Iranian claims of attacks or blockades. In a move underscoring Washington’s determination, Central Command announced the deployment of around 15,000 troops, more than 100 aircraft, and guided-missile destroyers as part of an operation to restore freedom of navigation in the strait, through which roughly a quarter of global seaborne oil trade passes.

Iranian military officials countered with equal force, insisting that security in Hormuz is “fully under the control” of its armed forces. The commander of Iran’s Khatam Al-Anbiya central headquarters warned that any threat would be met with a “harsh response,” while the Islamic Revolutionary Guard Corps (IRGC) cautioned shipping companies against ignoring directives, vowing to intercept vessels that fail to comply with its protocols.

The escalation comes amid conflicting accounts of maritime incidents in the strait. Iran’s military claimed its naval forces issued warnings to US destroyers approaching the strait and fired warning shots using missiles and drones after the vessels ignored alerts, holding Washington responsible for any consequences. The US military flatly denied that its ships had been targeted, highlighting the conflicting narratives that have become a hallmark of the crisis.

The fallout has reverberated across the Gulf. The United Arab Emirates initially warned citizens of a “potential missile threat” before later declaring conditions safe. Qatar and Egypt condemned an attack on a UAE tanker, describing it as a violation of international law and freedom of navigation, and warning of its impact on global energy security. Egypt’s foreign ministry emphasized that targeting commercial vessels represents a “serious threat to regional stability and global energy supplies,” while Qatar rejected the use of the strait as a pressure tool and called for it to be reopened unconditionally. Meanwhile, maritime security reports indicated that container ships had come under fire, and Iran’s IRGC claimed to have seized three vessels, underscoring the risks despite efforts to sustain a ceasefire.

Diplomatic efforts are underway to prevent further escalation. Pakistan’s foreign minister discussed developments with his Iranian counterpart, stressing the need for de-escalation. Russia signaled readiness to propose new initiatives for a Middle East free of weapons of mass destruction, linking the Hormuz crisis to broader regional security concerns. As global concern mounts, the dispute over Hormuz has become more than a bilateral clash; it is a test of international diplomacy, energy security, and the fragile balance of power in the Gulf.

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Following the signing, ICAO Secretary General Juan Carlos Salazar praised Egypt’s active support for the organisation’s activities. He highlighted that the Cairo-based regional office is among ICAO’s most important globally, playing a central role in implementing programmes and providing technical assistance to member states.

Salazar noted that the office contributes to enhancing aviation safety standards, improving operational efficiency, and reducing the environmental impact of air transport across the region. He added that Egypt’s continued support strengthens ICAO’s ability to deliver on its strategic objectives in the Middle East.

According to Egypt’s Cabinet Media Center, the country has hosted the ICAO regional office since 1953, underscoring decades of institutional cooperation. The Cairo office is one of seven ICAO regional offices worldwide and serves 15 member states across the Middle East.

The office plays a key role in providing technical support, capacity building, and policy guidance to member countries, while advancing priorities such as aviation safety, operational efficiency, sustainability, and innovation in civil aviation.

The renewal of the hosting agreement reflects continued confidence in Egypt’s capabilities and reinforces its position as a regional leader in the aviation sector, as well as a strategic partner in advancing global civil aviation standards.

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This relationship matters because it directly influences the balance of power in the Middle East, a region where new international trends are often tested. The key question is not whether a formal alliance exists, but how this flexible mix of interests reshapes power and stability in the region.

Such cooperation challenges traditional ideas about deterrence. In recent years, Iran has sought closer ties with Russia and China to counterbalance US influence. Yet these relationships do not guarantee support in times of crisis. Instead, they create an uncertain security environment, where assistance is not assured and outcomes remain unpredictable.

This uncertainty grants regional powers greater independence. Without rigid alliances, Middle Eastern states can engage with multiple major powers without fully committing to any single bloc. As a result, the region has become a competitive arena where countries respond to shifting interests and pursue diverse partnerships. This has produced a fragile and easily disrupted stability.

In the past, the region enjoyed a more structured balance. Today, crises are managed rather than resolved. Major powers such as Russia and China aim to prevent escalation but avoid costly or risky commitments. This approach seeks to maintain stability and avert conflict, yet underlying tensions persist.

Russia and China focus on managing regional crises—including those involving Iran—rather than pursuing comprehensive solutions. Russia seeks to limit further complications given its own challenges and the war in Ukraine. China, meanwhile, prioritizes safeguarding its economy and energy security, while steering clear of direct military involvement. This strategy may prevent deterioration but does not address deeper structural issues.

By managing crises instead of resolving them, Russia and China maintain a degree of control and stability in the region. Their relationship with Iran remains flexible, allowing each side to pursue its own interests without binding defense commitments.

This flexible approach has significant implications. Rather than a single dominant power imposing order, the Middle East now operates within a complex web of overlapping relationships. Power struggles persist, but with multiple strong actors involved, outcomes are harder to predict.

Consequently, the region is more susceptible to sudden shifts, while states enjoy greater freedom to adapt to new circumstances. The environment remains fluid, with numerous players shaping and reacting to events. Rapid change is the norm, forcing countries to continually reassess strategies and partnerships. Traditional frameworks for understanding these dynamics no longer suffice. Today, relationships are driven by shifting interests rather than fixed alliances or ideologies. Even when divisions appear to deepen, they may not reflect enduring realities.

Dr. Marwa El-Shinawy – Academic and Writer

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