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City Centre Almaza has created about 40,000 direct and indirect jobs
5 December 04:14 PM Sahar Nasr inaugurates City Centre Almaza with $580m investments
By: Abdullah Bedeir Cairo – Mubasher: The Egyptian minister of investment and international cooperation Sahar Nasr and the UAE’s minister of climate change and environment Thani Al Zeyoudi on Thursday inaugurated City Centre Almaza with …
Majid Al Futtaim created about 7,500 direct jobs in Egypt
5 December 03:38 PM Majid Al Futtaim eyes raising investments in Egypt to EGP 44bn
By: Abdullah Bedeir Cairo – Mubasher: Majid Al Futtaim aims to increase its investments in Egypt to EGP 44 billion, the company’s CEO Alain G. Bejjani said. Egypt has received EGP 26 billion in investments from the UAE-based leading integrated …
UAE real estate companies will partake in Luxury Property Show 2019
5 December 11:57 AM UAE high-profile developers join China’s property expo 2019
UAE – Mubasher: UAE real estate companies will partake in Luxury Property Show (LPS) Shanghai 2019, the leading luxury real estate expo which will kick off on 6 December until the 8th of the month in China. Among those developers are Manazel and …
The details of the offer will be disclosed after signing the contract
5 December 11:54 AM Heliopolis Housing approves in principle Zahraa Maadi’s purchase offer
Cairo – Mubasher: Heliopolis Company for Housing and Development has approved in principle the offer submitted by Zahraa Maadi Investment and Development to purchase a 34-feddan land in New Heliopolis. The details of the offer will be disclosed …
A total of 478 units in the first phase are currently being established
5 December 11:33 AM Castle Development invests EGP 1.1bn in Landmark Phase I & II
Cairo – Mubasher: Castle Development announced the allocation of EGP 100 million to finance 15% of the construction of the first phase of its first project in the New Administrative Capital, Castle Landmark, by the end of 2019. Work is underway in …
The company aims to obtain the land plot to build a comprehensive urban project
5 December 11:09 AM Heliopolis Housing receives purchase offer for 250-feddan land
By: Abdullah Bedeir Cairo – Mubasher: A real estate company has submitted a request to Heliopolis Company for Housing and Development to buy a 250-feddan land plot in New Heliopolis, a source told Mubasher. The company aims to obtain the land plot …
The funding will be offered at an interest rate of 10%
5 December 10:59 AM Egypt launches EGP 50bn middle income mortgage funding initiative
Cairo – Mubasher: The Egyptian government approved the launch of a new initiative to support the finance of middle-income housing with EGP 50 billion, the governor of the Central Bank of Egypt (CBE), Tarek Amer, said. The funding will be offered …
The plot is subject to pricing
4 December 12:35 PM Porto Group to buy 30-feddan land in New Sohag
By: Abdullah Bedeir Cairo – Mubasher: Porto Group Holding has submitted an offer to buy a 30-feddan plot of land near Sohag University, head of the New Sohag Development Authority, Ragab Salman, told Mubasher. Porto Group is planning to launch an …
Dimah Capital manages $900 million in total assets
4 December 11:08 AM Al Imtiaz Investment's Dimah Capital manages $900m assets
Mubasher: Dimah Capital Investment, a subsidiary of Al Imtiaz Investment Group, is currently managing $900 million in total assets, the Kuwaiti asset manager’s deputy chairman Hossam Naser al Mozayel said. A substantial portion of Dimah’s …
The handover of Afnan District began in early November
4 December 09:31 AM Deyaar Development, DIB to offer attractive home financing solutions
Dubai – Mubasher: Deyaar Development has collaborated with Dubai Islamic Bank (DIB) to benefit from the bank’s unique and customised home financing solutions to contribute to homeownership in Deyaar’s Midtown development. Future Midtown …
The new project is situated over 135 feddans on the coastal road
3 December 05:46 PM Palm Hills Alexandria Phase II launched with EGP 5.1bn investments
Cairo – Mubasher: Palm Hills Development Co announced the launch of the second phase of Palm Hills Alexandria with investments of EGP 5.1 billion. Situated over 135 feddans on the coastal road, the project features residential units, commercial …
Al Enmaa’s stocks will resume trading
3 December 01:39 PM Al Enmaa Real Estate rebuffs news of takeover bids
Mubasher: Al Enmaa Real Estate Company dismissed news that it received any acquisition proposals from strategic investors, according to its statement to Boursa Kuwait. Kuwait Financial House’s (KFH), Al Enmaa’s main stakeholder, also did not …
The investment expansion produced a profit KWD 57,267
3 December 01:20 PM Kuwait Business Town raises sister firm stake to 43%
Mubasher: Kuwait Business Town Real Estate and one of its sister companies purchased an additional stake in another sister company for KWD 1.661 million, according to a bourse statement. As a result, Kuwait Business Town’s investment stake …
Zahraa Maadi is in negotiations with Heliopolis Housing to obtain a 34-feddan land plot
3 December 11:45 AM Zahraa Maadi plans to build urban project in New Heliopolis
Cairo – Mubasher: The board of directors of Zahraa Maadi Investment and Development decided to submit a request to Heliopolis Company for Housing and Development to purchase a 34-feddan land plot in New Heliopolis. The company plans to build a …
The distributions amount to EGP 0.50 per share
3 December 11:21 AM Zahraa Maadi’s shareholders approve EGP 66m dividends
Cairo – Mubasher: The ordinary general meeting (OGM) of Zahraa Maadi Investment and Development approved distributing cash dividends from the retained earnings registered in the financial statements for the period ended in December 2018. The OGM …
Delta Landmark project will offer 5,000 job opportunities
3 December 10:47 AM Egypt gov't invests EGP 2bn in Menoufia’s 1st logistic zone
Cairo – Mubasher: Egypt’s supply and internal trading minister, Ali Meselhy, has laid the cornerstone for the first logistic zone in Menoufia governorate at a total investment value of EGP 2 billion. Spanning an area of 54,600 square metres, the …
The new capital is located east of Cairo at a total area of over 170,000 feddans
2 December 04:35 PM ACUD offers 471 feddans for agricultural investment
Cairo – Mubasher: Administrative Capital For Urban Development (ACUD) has offered 471 feddans to local and international companies operating in sustainable development of agricultural nurseries. The company invited companies to submit their …
The ownership transfer is subject to Boursa Kuwait’s approval
2 December 03:55 PM First Dubai inks settlement deal with Al Mazaya Holding
Mubasher: First Dubai for Real Estate Development has signed a partial settlement agreement with its parent company, Al Mazaya Holding, to reduce its liability by KWD 1.341 million ($4.42 million). The reduction will be carried out in return for …
The new project is located over 4,900 square metres
1 December 06:17 PM Karma launches EGP 500m administrative project in new capital
Cairo – Mubasher: Karma Real Estate has launched a medical administrative project in Egypt’s New Administrative Capital with expected investments of EGP 500 million. The new project, located over 4,900 square metres in the Business District, is …
The land is located in New Heliopolis in El Shorouk City
1 December 05:47 PM Zahraa Maadi in talks with Heliopolis Housing over 34-feddan land
By: Abdullah Bedeir Cairo – Mubasher: Zahraa Maadi Investment and Development has submitted an offer to purchase a 34-feddan land plot from Heliopolis Company for Housing and Development, the investor relations manager at Zahraa Maadi, Karim Abu …
Construction in the project is expected to start immediately
1 December 05:27 PM Emaar Misr inks EGP 1.6bn deal with Arabtec Construction
Cairo – Mubasher: Emaar Misr for Development signed a contract with Arabtec Construction, a subsidiary of Arabtec Holding, to build an urban community ‘Greek Village’ with a total value of EGP 1.608 billion ($99.7 million).  The project includes …
Heliopolis Housing logged a net profit of EGP 29.39 million in Q1-19/20
1 December 12:51 PM Heliopolis Housing mulls purchase offers for 50-feddan land
By: Abdullah Bedeir Cairo – Mubasher: Heliopolis Company for Housing and Development is currently in negotiations with several companies that submitted offers to purchase a 34-feddan land and another 16-feddan land in New Heliopolis in El Shorouk …
The OGM approved the board’s report for fiscal year ended August 2019
1 December 11:56 AM Cairo Investment’s OGM approves EGP 0.042/shr dividend
Cairo – Mubasher: The ordinary general meeting (OGM) of Cairo For Investment and Real Estate Development company approved the financial statements and dividend distribution for the previous fiscal year that ended August 2019. The OGM consented to …
Egypt's MFF approved social housing rules
29 November 03:42 PM Egypt gov’t approves social housing rules
Cairo – Mubasher: Egypt’s Mortgage Finance Fund (MFF) approved a proposal on the rules and mechanisms governing the contribution of real estate developers in social housing project. The fund's board, headed by housing minister Assem al-Gazzar, …
A First Investment Company subsidiary reached a settlement
28 November 04:45 PM First Investment unit reaches tax settlement in Saudi Arabia
Mubasher: A First Investment Company subsidiary successfully reached an agreement with Saudi regulatory authorities to settle tax and Zakat claims, according to a statement on Thursday. The settlement will see the First Investment subsidiary …