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25 March 04:59 PM TMG Holding’s general assembly greenlights 2023 dividends
Cairo – Mubasher: The ordinary general meeting of Talaat Moustafa Group Holding Company (TMG Holding) approved a cash dividend of EGP 0.22 per share for 2023. The dividends will be paid in two equal installments on 31 May and 31 July 2024, …
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24 March 03:28 PM Madinet Masr negotiating banks for credit facilities
Cairo – Mubasher: Madinet Masr Housing and Development is in talks with a syndicate of banks for credit facilities to fund its commercial projects. Official contracts will be signed upon the finalisation of the negotiations, Madinet Masr stated, …
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18 March 03:30 PM Madinet Masr considers purchase of 400 feddans in North Coast – CEO
By Abdullah Bedir Cairo – Mubasher: Madinet Masr Housing and Development is seeking to acquire massive land in Egypt’s North Coast at a minimum area of 400 feddans, stated Abdallah Sallam, the company’s president and CEO. Sallam revealed on the …
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18 March 01:20 PM Madinet Masr Innovation Labs unveils Theqa property warranty solution
Cairo – Mubasher: Madinet Masr Innovation Labs, the innovation arm of Madinet Masr Housing and Development, has launched a new property warranty solution under the name of “Theqa”. The new solution is designed to replace maintenance deposits, …
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14 March 02:57 PM Orascom Development boosts growth plans via leadership changes in Europe
Cairo – Mubasher: Orascom Development unveiled strategic leadership changes for its European destinations, including Andermatt Swiss Alps in Switzerland, Luštica Bay in Montenegro, and ECOBOS in the UK. Maher Maksoud will be the CEO of ECOBOS, …
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13 March 11:08 AM Mayar Holding’s Egyptian subsidiary inks EGP 840m contracts
Riyadh – Mubasher: Egypt Gulf Elevators and Escalators Company, a subsidiary of the Saudi Arabian Mayar Holding Company has signed two contracts with Total Air Projects Company with a total value of EGP 840 million. The contracts include supplying …
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12 March 10:52 AM ElSaeed Contracting awards tender for EGP 412m project in Qena
Cairo – Mubasher: ElSaeed Contracting and Real Estate Investment Company has awarded a tender for a new contracting project in Qena with a value of around EGP 412 million. The project includes the execution of the first phase of the project to …
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11 March 06:35 PM IL Cazar launches The Crest upon collaboration with Emirati UDC, EGP 30bn investment
Cairo – Mubasher: Egyptian real estate company IL Cazar has unveiled its latest residential venture under the name The Crest, which marks the first collaboration with the UAE’s UDC Real Estate Development, the subsidiary of Mohammad Omar bin …
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11 March 11:45 AM Orascom Development Egypt sees 63.5% higher profits in 2023
Cairo – Mubasher: Orascom Development Egypt (ODE) recorded net profits valued at EGP 3.10 billion in 2023, marking a 63.50% year-on-year (YoY) leap, according to a press release. The higher profits were driven by record sales of EGP 19.40 billion …
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10 March 03:05 PM Arab Developers swings to consolidated profitability in 2023
Cairo – Mubasher: Arab Developers Holding turned to consolidated profitability during the financial year 2023, recording a net profit of EGP 100 million, versus a net loss of EGP 18 million a year earlier. Consolidated sales soared 203% …
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7 March 07:52 PM TAQA Volt joins Wadi Degla Developments to install EV charging stations
Cairo – Mubasher: TAQA Volt, a subsidiary of TAQA Power which is the electricity operating arm of the listed TAQA Arabia group, has collaborated with Wadi Degla Developments to endorse optimising electric vehicles (EVs) and sustainable living …
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7 March 07:07 PM Al Ahly Sabbour Developments considers EGP 450m in loans for 2024 – Chairman
By: Abdullah Bedir Cairo – Mubasher: Al Ahly Sabbour Developments seeks to secure loans totalling approximately EGP 450 million in 2024, said the company’s Chairman Ahmed Sabbour. Speaking at a conference today, Sabbour disclosed that the company …
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6 March 07:41 PM Nilus to develop Egypt’s NDP land upon granted Golden License - Updateed
Cairo – Mubasher: The Egyptian government has granted the Golden License, in coordination with the General Authority for Investment and Free Zones (GAFI), to Nilus for Hotel and Commercial Services as well as Nilus for Residential Services, which …
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4 March 04:48 PM Pioneers Properties turns to consolidated profitability in 2023
Cairo – Mubasher: Pioneers Properties for Urban Development shifted towards consolidated profitability during 2023, recording a net profit after tax of EGP 556.97 million, compared to a net loss of EGP 81.08 million in 2022. The company’s …
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3 March 05:37 PM Madinet Masr offers to develop 3 lands with Heliopolis Company
Cairo – Mubasher: Heliopolis Company for Housing and Development has received a technical and financial offer for the development of three plots of land in New Heliopolis City in partnership with Madinet Masr Housing and Development. The three …
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3 March 01:29 PM Emaar Misr records EGP 6.8bn consolidated profit in 2023
Cairo – Mubasher: Emaar Misr for Development logged a consolidated net profit after tax of EGP 6.81 billion in 2023, versus EGP 6.56 billion a year earlier. Consolidated revenues grew to EGP 15.09 billion last year from EGP 14.73 billion in 2022, …
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3 March 12:52 PM TMG Holding’s ICON finalises acquisition of 7 historic hotels in Egypt
Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) announced completing all procedures for the acquisition of a 51% stake in the management rights of Legacy Hospitality and Touristic Projects, which owns seven historic hotels in …
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29 February 04:38 PM Saudi Sumou, Egypt’s Hassan Allam pen development agreement
Mubasher: Saudi Sumou Holding and Hassan Allam inked a development agreement for key investment opportunities in the real estate sector, according to a press release. ADEER International Egypt, a subsidiary of ADEER Holding and Sumou Holding, …
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29 February 01:24 PM ElSaeed Contracting reports EGP 119m consolidated net profit in 2023; dividends proposed
Cairo – Mubasher: ElSaeed Contracting and Real Estate Investment Company posted a consolidated net profit after income tax of EGP 119.08 million in 2023 from EGP 104.01 million last year. Operations revenue increased to EGP 2.69 billion last year …
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28 February 02:52 PM Palm Hills Developments logs EGP 1.6bn profits in 2023; acquisition deal approved
Cairo – Mubasher: The net consolidated profit after income tax and non-controlling equities of Palm Hills Developments Company registered EGP 1.58 billion in 2023, up from EGP 1.25 billion a year earlier. Revenues jumped to EGP 17.46 billion last …
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28 February 01:35 PM TMG Holding’s consolidated profits soar 44% YoY in 2023; board nods to dividends
Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) posted a 44% year-on-year (YoY) surge in consolidated net profits after taxes and non-controlling interests to EGP 3.31 billion in 2023 from EGP 2.30 billion. The company’s …
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26 February 03:34 PM Pioneers Properties launches 1st phase of EGP 20bn IVOIRE East project
Cairo – Mubasher: Pioneers Properties for Urban Development has launched the first phase of its IVOIRE East project in New Cairo. Located on 438,000 square meters, IVOIRE East has an estimated investment cost of EGP 22 billion, according to a …
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26 February 11:09 AM Madinet Masr’s consolidated profits soar 189% YoY in 2023; dividends proposed
Cairo – Mubasher: Madinet Masr Housing and Development recorded a 188.85% year-on-year (YoY) surge in the consolidated net profit after tax and non-controlling interest to EGP 2.12 billion in 2023 from EGP 736.73 million. The company’s revenues …
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25 February 01:44 PM TMG Holding partners with ADQ, Modon Properties to develop $24bn Ras El-Hekma project
Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) has entered into an agreement with Abu Dhabi-based investment and holding firm ADQ and Modon Properties to collaborate on the development of the $24 billion Ras El-Hekma …
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25 February 10:10 AM Abu Dhabi-based ADQ to invest $35bn in Egypt’s Ras El-Hekma
Mubasher: Abu Dhabi-based investment and holding firm ADQ signed an agreement to invest $35 billion in Egypt’s Ras El-Hekma, according to a recent press release. Under the joint deal, ADQ will acquire the development rights for Ras El-Hekma in …