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Real estate

Emaar’s profits levelled down by 14.82%
23 August 11:39 PM Developers in Dubai, Abu Dhabi report profit decline in Q2-19
By: Enas Bahgat UAE – Mubasher: The profits of the UAE-listed real estate companies declined by 25% year-on-year during the second quarter of 2019. The reasons for that decline include the increase in the cost of finance and operational costs. …
The mall will create 10,000 jobs
23 August 08:52 PM Arabian Centres to operate Egypt’s Mansoura Mall in 2021
Riyadh – Mubasher: Saudi-based Arabian Centres Company is expecting to start the operation of the shopping mall in Egypt’s Mansoura in 2021. The company acquired 47-acre land in Mansoura to build the shopping mall that will be designed under the …
One of Reportage Properties projects
23 August 06:46 PM Reportage Properties to handover 5 projects in Abu Dhabi
UAE – Mubasher: Reportage Properties has announced that it is ready to deliver five new projects in Abu Dhabi within three years. Located in key investment areas in the emirate of Abu Dhabi, the five projects include 1,600 housing units, Reportage …
The central business district features Africa’s tallest tower
22 August 05:21 PM New capital’s business district reaches 35% completion
By: Abdullah Bedeir Cairo – Mubasher: Construction progress of the New Administrative Capital's central business district reached 30-35%, the deputy minister of housing Khaled Abbas told reporters on Thursday. The central business district …
The first phase of the project includes 800 residential units
22 August 04:31 PM Egypt offers New Alamein’s Downtown Phase I next week
By: Abdullah Bedeir  Cairo – Mubasher: Residential units in the first phase of New Alamein’s “Downtown” district will be offered for sale by the next week, the deputy minister of housing Khaled Abbas said. The first phase of the project includes …
The wider Creek Beach District is set to be an urban city
22 August 04:17 PM Emaar proceeds 2nd cluster of Creek Beach District
Dubai – Mubasher: Emaar Properties is proceeding work at its Creek Beach District with Sunset, the second cluster of residential lifestyle homes at the development, with SSH serving as the project’s lead consultant. This comes after the launch of …
First and second phases were completed
22 August 03:50 PM Orascom Development to start construction of ‘O West’ in October
Cairo – Mubasher: Orascom Development Egypt on Thursday announced that the construction of its EGP 3.3 billion ‘O West’ project will start in October. The delivery of the project’s units is set to begin in four years following the start of the …
The new capital will house 6.5m people
22 August 02:43 PM New Administrative Capital attracts EGP 250bn investments
Cairo – Mubasher: The value of investments in Egypt’s New Administrative Capital have reached EGP 250 billion ($15 billion), Administrative Capital for Urban Development (ACUD) stated on Thursday. Responding to allegations concerning the decline …
The housing ministry launched the first phase in 2015
22 August 01:51 PM Housing ministry sees EGP 150bn investments in PPP projects
By: Abdullah Bedeir Cairo – Mubasher: A total of eleven housing contracts have been signed in the first and second phases of public-private partnership (PPP) projects in Egypt, the deputy minister of housing Khaled Abbas said. Investments ranging …
Mika Toivola has over 25-year of international and UAE experience
22 August 11:49 AM Azizi Developments appoints new CFO
UAE – Mubasher: Azizi Developments, a leading private property developer in the UAE, announced it has appointed Mika Toivola as the company’s chief financial officer (CFO). Mika Toivola has over 25-year of international and UAE experience in …
Developers report $174.7m profits in 6M
21 August 07:41 PM Kuwaiti developers’ profits nearly halve in Q2-19
By: Mohammad Farouk Mubasher: The profits of 34 Boursa Kuwait-listed real estate companies dropped 40.8% year-on-year to KWD 14.34 million ($47.3 million) during the second quarter of 2019. In the first six months of 2019, the real estate …
The project is situated on 27,000 sqm
21 August 06:42 PM Amer Group to launch EGP 3bn project in Cairo
Cairo – Mubasher: Amer Group Holding Company is planning to launch Piccadilly Heliopolis, with total investments of EGP 3 billion. The project is located in Cairo’s Masr Al Jadidah district and situated on 27,000 square metres, according to bourse …
The capital raise will be distributed over 56.64 million shares
21 August 05:27 PM EGX approves United Housing’s EGP 71m capital raise
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved increasing the issued and paid-up capital of the United Company for Housing and Development by EGP 70.8 million to EGP 354 million from EGP 283.2 million.  The capital …
Munashaat suffered losses worth KWD 1.3 million in H1-19
21 August 04:57 PM Kuwaiti Munshaat’s subsidiary receives 25% rental cut in KSA
Mubasher: Munshaat Real Estate Projects Co announced that its fully owned subsidiary in Saudi Arabia, Munshaat for Projects and Contracting Co, has received a notification letter from competent authorities in KSA of a 25% reduction in the annual …
Sales slid to EGP 108.6 million in H1
21 August 04:40 PM Al Shams Housing’s profit falls to EGP 74m in H1
Cairo – Mubasher: Al Shams Housing and Urbanization reported a 45.56% year-on-year profit decline during the first half of 2019. Net profits plunged to EGP 73.90 million in the six-month period ended 30 June, compared to EGP 135.75 million in the …
The countrywide growth rate is expected to reach 9% per year
21 August 04:06 PM Over 2,000 keys of branded supply joins Saudi market in Q2 – Colliers
Riyadh – Mubasher: More than 2,000 keys of branded supply joined the Saudi market during the second quarter of 2019, with 60% classified in the 4-star segment, Colliers International said in its quarterly review. 4-star supply typically caters to …
The Marassi project land was purchased by Emaar Misr in a public auction
21 August 11:53 AM Emaar Misr denies businessman’s alleged ownership of Marassi land
Cairo – Mubasher: Emaar Misr for Development, an Egyptian unit of the Dubai-based real estate firm Emaar Properties, denied reports claiming that the company will not be able to register the sale of residential units sold to its customers in …
Revenues fell to EGP 676 million
21 August 11:10 AM Porto Group Holding logs EGP 80m profit in H1-19
Cairo – Mubasher: Porto Group Holding posted a 51% year-on-year profit growth during the first half of 2019. Net profits surged to EGP 80 million during the January-June period of 2019, compared to EGP 53.06 million in the corresponding period a …
Orascom Development aims to achieve revenue of EGP 4 billion in 2019
21 August 09:15 AM Orascom Development eyes EGP 7bn property sales in 2019
Cairo – Mubasher: Orascom Development Egypt is looking forward to generating around EGP 6.5 billion to EGP 7 billion in property sales by the end of 2019, according to a statement to the Egyptian Exchange (EGX). The company is planning to raise …
Inertia achieved EGP 4.5bn in sales from Jefaira
20 August 07:38 PM Inertia Egypt targets EGP 5.5bn sales from Jefaira North Coast
Cairo – Mubasher: Inertia Egypt is planning to generate EGP 5.5 billion from sales of Jefaira North Coast project by the end of 2019, managing director, Ahmed El-Adawy, stated on Tuesday in a press conference. Since the beginning of the year, …
Delta’s revenue doubled to EGP 127.6m in 6M
20 August 06:23 PM Delta Construction’s profit hikes 5.5% YoY in H1-19
Cairo – Mubasher: Delta for Construction and Rebuilding has reported a 5.5% year-on-year profit increase during the first six months of 2019, recording EGP 11.71 million.   The company ascribed the increase in its revenue to the improvement in the …
Aqar Real Estate posted a 31.6% decline in profits in Q2-19
20 August 05:35 PM Aqar Real Estate generates profit from selling industrial plot
Mubasher: Aqar Real Estate Investments registered around KWD 530,000 profits after selling an industrial plot in Kuwait. The company has concluded a sale and waiver deal worth KWD 2.2 million of the usufructuary right of an industrial land plot, …
Consolidate revenues soared to EGP 69.78 million in H1-19
20 August 04:56 PM Real Estate Egyptian Consortium’s consolidated profit grows 358% in H1-19
Cairo- Mubasher: The consolidated financial statements of the Real Estate Egyptian Consortium showed a 358.6% year-on-year profit hike during the first half of 2019. Year-on-year, the net profits surged to EGP 24.63 million during the six months …
The funding will be secured in a year
20 August 03:50 PM Inertia borrows EGP 575m from Banque Du Caire
By: Abdullah Bedeir Cairo – Mubasher: Inertia Egypt signed a deal to obtain a loan worth EGP 575 million from Banque Du Caire. The loan will be directed to finance the construction works of the real estate firm’s projects, managing director of …
A previous meeting of Alargan
20 August 12:23 PM Alargan inks KWD 66.5m banking facility deal
Mubasher: Alargan International Real Estate announced that it has signed a banking facility contract valued at KWD 66.5 million with a local bank. The agreement comes in line with Alargan’s efforts in regulating and coordinating its financial …