Egypt on edge after US attack on Iran ☢️

Hey friends. Things are escalating quite a bit in the Middle East, following a US Presidential decision to strike three Iranian nuclear sites just hours ago. Tehran has already vowed it will respond, stating that the US’s decision to attack will leave “everlasting consequences” — more on that below.

Dive into this week’s roundup to unpack what this all means for Egypt, plus more key stories from the past seven days.

Before you scroll: Just a quick heads up that we will be getting back-to-back long weekends here in Egypt. Our government announced that Thursday, 26 June, and Thursday, 3 July, will be paid holidays, marking the Hijri New Year and the anniversary of the 30 June Revolution, respectively.

This does not affect our weekly publication — which always lands in your inbox every Sunday unless there’s a holiday — but may trim the news volume.

Now back to the weekly roundup.

• Egypt reacts to US-Iran ☢️

• Qatar's $3.5 North Coast ambitions 🏝️

• Digitized parking in Cairo 🚗

• Major solar complex launched ☀️

USA | IRAN | ISRAEL | REGIONAL CONFLICT
US STRIKES KEY IRANIAN NUCLEAR SITES – WHAT THIS MEANS FOR EGYPT

Egypt and the Middle East witnessed a major escalation as US President Donald Trump announced that American forces had struck Iran’s three principal nuclear facilities — Natanz, Isfahan, and the fortified Fordow site.

What happened? In a televised address, Trump described the strikes as a “spectacular military success,” claiming that Iran’s enrichment facilities had been “completely and totally obliterated.” He warned that if Iran does not agree to peace, further precision strikes would follow.

How it happened? According to US officials and sources from CBS News, the military campaign included B-2 bombers, 30 Tomahawk missiles, and six bunker-buster bombs dropped on Fordow — the country’s most significant nuclear site, built deep into a mountain near Qom. Trump later wrote on Truth Social: “Fordow is gone.”

We could see it coming: The US’s direct involvement comes just days after Trump hinted at joining Israel’s campaign against Iran if hostilities continued. The US reportedly reached out to Tehran after the attack, clarifying that it doesn’t seek regime change and that no additional strikes are currently planned.

Iran’s response: Iranian officials confirmed an airstrike hit part of Fordow, but state media downplayed the impact. One lawmaker claimed the site was not seriously damaged, while Iran’s nuclear authority stated that all enriched uranium had been moved beforehand, eliminating any radiation risks. Iran also said the sites had been evacuated in advance.

Egypt’s response: Egypt’s Foreign Ministry issued an official statement, calling the escalation a dangerous threat to regional and international peace and security. The ministry stressed that any violation of international law and the UN Charter undermines the sovereignty of nations and risks plunging the region into chaos.

Cairo reiterated its longstanding stance that military solutions cannot resolve regional crises and urged all parties to de-escalate immediately, engage in dialogue, and prioritize diplomacy to protect civilian lives and regional stability.

Refresher: On 13 June, Israel launched airstrikes across Iran targeting nuclear and military sites, including Tehran and the Natanz facility. Iran reported the killing of top IRGC commander Hossein Salami and other officials, with unverified civilian casualties. Israel said the strikes aimed to “roll back the uranium threat,” while Iran retaliated with over 100 drones—all intercepted, according to Israel. The UN, Egypt, and regional powers urged restraint amid fears of a wider conflict.

Just a day before the US strikes, Egyptian President Abdel Fattah Al-Sisi talked with his Iranian counterpart during a phone call — with Egypt’s head of state emphasizing the need for a solution to safeguard the stability of the region and ending the ongoing Israeli escalation.

A crisis committee to safeguard Egypt: In response to the escalating military operations between Iran and Israel, Egyptian Prime Minister, Mostafa Madbouly, formed a high-level crisis committee. This committee is tasked with monitoring the potential repercussions of the conflict across various sectors, including the economy, energy, and national security. It will be chaired by Madbouly himself and will include key officials such as the Governor of the Central Bank and several ministers, including those responsible for Industry, Finance, and Petroleum.

FOREIGN DIRECT INVESTMENT | NORTH COAST | LAND DEAL
EGYPT, QATAR IN TALKS FOR $3.5 BILLION NORTH COAST INVESTMENT DEAL: REPORT

Qatar is in advanced talks to invest USD 3.5 billion (EGP 177.1 billion) into a major tourism project on Egypt’s North Coast — the latest sign of Gulf cash helping Cairo weather its ongoing economic and geopolitical storms in the form of investment offerings.

What’s in the deal? According to anonymous sources cited by Bloomberg, the agreement would mirror the UAE’s blockbuster USD 35 billion (EGP 1.77 trillion) Ras El-Hekma deal, although the exact location of the new site remains undisclosed.

If finalized, Qatar would inject USD 1 billion upfront, with the rest following over 12 months. The deal could be signed before the end of 2025.

Why it matters: The potential Qatari funding would bring fresh liquidity, not repurposed deposits like the UAE or Kuwait deals. That could prove critical, as Egypt grapples with mounting regional repercussions from the Israel-Iran conflict, a weakened currency, and a stock market hit with its worst plunge in five years.

Just last week we also reported this: Egypt allocated a 174 square kilometer plot on the Red Sea to the Finance Ministry to back upcoming Islamic bond issuances and future real estate projects. That move, along with this possible Qatari deal, signals how Cairo is leveraging land for capital as part of a broader economic reform push.

The bigger picture: This potential Qatari deal is part of Egypt’s drive to revamp its import-heavy economy. It follows the USD 57 billion bailout package secured from the IMF, EU, and Gulf partners earlier this year — a critical step to restoring stability, unlocking investment, and avoiding another summer of blackouts.

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TRAFFIC | CAIRO | DIGITAL TRANSFORMATION
’SAYES’ CULTURE NO MORE: DIGITIZED PARKING SYSTEM LAUNCHES THIS MONTH

Cairo is taking a major step to fix its long-troubled street parking system with the rollout of a new digital parking management system, Governor Ibrahim Saber announced.

What’s changing? Parking attendants (aka sayes), who have developed a notorious reputation across Cairo’s streets, will now be officially licensed and registered through contracted companies. They’ll wear standardized light-blue jackets equipped with scannable barcodes giving motorists instant access to their ID, the operating company, and the parking zone.

Each uniform will also carry the governorate’s seal, a unique district code, and tamper-proof markers, helping drivers instantly verify whether an attendant is legitimate.

Why it matters: The system is Cairo’s response to years of frustration with self-appointed attendants, excessive fees, and harassment of drivers. Governor Saber said the goal is to eliminate fraud and offer transparency and accountability — with a centralized hotline for complaints and misconduct.

The legal backdrop: This reform is tied to a 2020 national law mandating proper licensing and fixed parking fees, aiming to bring order to Cairo’s informal parking sector. The digital system will debut in the Western Region before expanding citywide.

Cairo becomes the first governorate in Egypt to implement such a tech-based system for public parking — a move officials hope will not only streamline daily life but also reinforce trust and order on the capital’s streets.

TRAFFIC | CAIRO | DIGITAL TRANSFORMATION
EGYPT, CHINA LAUNCH $200 MILLION SOLAR COMPLEX IN AIN SOKHNA

The Suez Canal Economic Zone (SCZone) just broke ground on a massive USD 200 million (EGP 10.13 billion) integrated solar energy complex — one of the largest renewable energy investments in Egypt to date.

What’s in the deal? The project is being developed by China’s Sunrev Solar in partnership with TEDA Egypt, the developer of the China-Egypt Suez Economic Zone. It will span 200,000 square meters in Ain Sokhna and unfold in two phases.

The first phase, worth USD 90 million (EGP 4.56 billion), includes two factories for solar cells and modules (2 GW capacity each).

The second phase, valued at USD 110 million (EGP 5.6 billion), will localize the production of raw materials like silicon ingots and wafers—establishing a full solar supply chain in Egypt.

Why this matters: The project is expected to go live in H1 2026 and create over 1,800 direct jobs, along with countless indirect roles. SCZone chief, Walid Gamal El-Din, called it a “strategic milestone” for clean energy manufacturing in Egypt, citing the zone’s infrastructure, investor incentives, and prime location.