Cairo – Mubasher: Emaar Misr for Development registered a consolidated net profit after tax of EGP 5.73 billion in the first quarter (Q1) of 2024, a surge from EGP 2.22 billion in the similar period a year earlier. Revenues, meanwhile, declined to …
Cairo – Mubasher: Beltone Leasing and Factoring, a subsidiary of Beltone Holding, has signed a sale and leaseback agreement and factoring facility amounting to EGP400 million with IL Cazar for Urban Development. The joint deal includes a sale and …
Riyadh – Mubasher: Saudi Arabia’s National Housing Company (NHC), in collaboration with Talaat Moustafa Group Holding Company (TMG Holding), has laid the foundations for the Banan City project in Riyadh with SAR 40 billion (approximately $12 …
Cairo – Mubasher: Madinet Masr Housing and Development has launched the Sheya project in Sarai, its mega mixed-use development. Located on a 228,212 square metre area near the New Administrative Capital, Sheya includes 744 mixed-use residential …
Cairo – Mubasher: Remco for Tourism Villages Construction incurred non-consolidated net losses valued at EGP 1.55 billion in 2023, an annual hike from EGP 210.60 million. The loss per share enlarged to EGP 6.31 last year from EGP 0.85 in 2022, …
Cairo – Mubasher: Egyptian Resorts Company shifted to consolidated net losses after tax valued at EGP 112.57 million in 2023, against net profits amounting to EGP 67.50 million in 2022. Earnings per share (EPS) plunged to EGP 0,078 in 2023 from …
Cairo – Mubasher: Six of October Development and Investment (SODIC) posted a consolidated net profit after tax of EGP 392.05 million in the first quarter (Q1) of 2024, up from EGP 191.02 million in the same quarter of the previous year. Total …
Cairo – Mubasher: Arab Developers Holding is targeting contracted sales amounting to EGP 7 billion in 2024. The company plans to deliver 2,000 housing units in all of its development projects during this year, according to a bourse disclosure. In …
Cairo – Mubasher: The Financial Regulatory Authority (FRA) approved for Zahraa Maadi Investment and Development to raise its authorisied capital by EGP 4 billion from EGP 1 billion. The listed company aims to increase the authorised capital to EGP …
Cairo – Mubasher: Palm Hills Developments Company has confirmed a media report that it is in talks with a syndicate of three banks for a loan totalling EGP 1.72 billion. The company said that it is in the final stages of these talks, according to …
Mubasher: Bold Routes, an Egypt-based brokerage company for real estate, has launched its tenth branch in Dubai, marking its first regional office, according to a press release. Abdel Rahman Badr, CEO of Bold Routes, highlighted that the company’s …
Cairo – Mubasher: The Urban Communities Authority (NUCA) has received technical and financial proposals from Hyde Park, Madinet Masr Housing and Development, and Mountain View to participate in the New Heliopolis City project. Heliopolis Company …
Cairo – Mubasher: Banque Misr has renewed a cooperation protocol with the Social Housing and Mortgage Finance Fund (SHMFF) with a funding target of up to EGP 25 billion. The renewal of the protocol is a culmination of the fruitful cooperation …
Cairo – Mubasher: Heliopolis Company for Housing and Development posted a net profit of EGP 7.80 billion in 2023, a surge from EGP 603 million a year earlier. Operating revenues skyrocketed to EGP 15.62 billion last year from EGP 1.99 billion in …
Cairo - Mubasher: Al Ahli Sabbour and the National Bank of Egypt (NBE) have launched Mint Real Estate Assets Management Company in the Egyptian market. MINT is set to forge strategic partnerships that enhance and optimise the value and returns of …
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, …
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, …
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 …
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, …
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, …
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 …
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 …
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 …
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 …
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% …
