Real estate

By: Abdullah Bedair Cairo - Mubasher: The Land Developers (TLD) plans to invest EGP 500 million in a residential project in Red Sea Governorate’s Sahl Hasheesh. The project spans 10.70 feddans (45,000 square metres) and includes 85 villas and 60 …

Cairo - Mubasher: Alinma Investment Co has cut its stake in El-Ebour Co. for Real Estate Investment to 9.30% from 10.27% for a total value of EGP 1.59 million. Alinma has sold 169,599 shares in El-Ebour Real Estate at a share price averaging EGP …

Cairo - Mubasher: The extraordinary general meeting (EGM) of Marseilia Almasreia Alkhalegeya Real Estate Investment unanimously approved splitting the share’s nominal value to EGP 0.50 from EGP 1 during a meeting on 4 December 2022. This brings …

Dubai – Mubasher: ZāZEN Properties will launch sales for its newest project, ZāZEN Gardens, next week. High demand for off-plan real estate projects spurred 130% growth in Dubai’s preconstruction segment over this year's first half (H1). …

Abu Dhabi – Mubasher: Aldar Properties has entered into an exclusive partnership with Nobu Hospitality to develop a new luxury hotel and branded residences to boost Aldar’s Mamsha Al Saadiyat. Under the collaboration agreement, Aldar will …

Riyadh – Mubasher: Emaar The Economic City sold an industrial land plot to CEER National Automotive Company at a total value of SAR 359.03 million to be paid over 15 years. CEER, the first Saudi electric vehicle brand, will establish and operate a …

Abu Dhabi – Mubasher: UAE global property developer Eagle Hills has launched $2.50 billion Durrës Yachts & Marina, the largest-ever super yachts marina in the Mediterranean.  Situated in the ancient city of Durrës, the Durrës Yachts & Marina is …

Riyadh – Mubasher: Ishraqh Regional Real Estate Development and Investment Company, owned by Al Baha Investment and Development Company, has purchased a commercial complex, showrooms, and offices for SAR 65 million, excluding real estate tax. The …

Riyadh – Mubasher: The Capital Market Authority has approved, on 28 November, Ash-Sharqiyah Development Company's request to increase its capital by SAR 225 million through a rights issue. Ash-Sharqiyah Development’s capital currently stands at …

Riyadh – Mubasher: Dar Alarkan Real Estate Development Company was awarded a contract from ROSHN to develop residential units in SEDRA project in Northern Riyadh. The collaboration aligns with ROSHN’s strategic partnerships with other global …

Cairo – Mubasher: Egypt-based early-stage VC and accelerator Flat6Labs has launched Makers, a construction-tech Innovation Programme to foster startups operating in the construction technology (ConTech) solutions in Egypt. Makers was launched in …

Cairo – Mubasher: Egyptians for Housing and Development Co has signed a five-year leasing contract with Huawei Technologies (Egypt) for a fully-finished one-and-a-half floor spanning 3,420 square meters.   The rental value will hike by 8% annually …

Cairo – Mubasher: Egyptians for Housing and Development Co has received an offer from Saudi Arabia’s Sumou Holding to acquire part of the company’s stake in Egyptians for Real Estate Investment Fund (EGREF) for EGP 29.15 million. Through the …

Cairo - Mubasher: The board of directors of El-Ebour Co. for Real Estate Investment approved unanimously raising the company’s issued capital to EGP 200 million from EGP 88.14 million.  The EGP 111.85 million capital raise will be distributed …

Cairo – Mubasher: The consolidated profits of Orascom Construction Plc retreated by 16.62% during the first nine months (9M) of 2022 to net $70.20 million from $84.20 million. Revenues of the EGX-listed firm grew to $3.05 billion during 9M-22, …

Cairo – Mubasher: Tatweer Misr has obtained financing worth EGP 400 million from the Commercial International Bank-Egypt (CIB) against units of the Fouka Bay project’s handover.  The real estate developer will use the funding to speed up the …

Riyadh - Mubasher: Al Ramz Real Estate Company set the price range for its initial public offering (IPO) on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) at SAR 61–67 per share. The final IPO price will be determined after the bidding …

Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) has won the “Fastest Growing Real Estate Company in Egypt 2022” from the International Business Magazine (IBM) Awards, Dubai. The nomination and award-winning process involved a …

UAE – Mubasher: Dubai-based investment firm Fincasa Capital plans to earmark around AED 280 million for the real estate sector during 2023 through its company Star Runner Property. The planned amount marks a significant leap from Fincasa Capital’s …

Riyadh – Mubasher: Sumou Real Estate Company announced a SAR 377 million development project with the National Housing Company on an area of 88,569 square metres, according to a bourse disclosure. Located in Makkah, residential units will be built …

Cairo – Mubasher: The extraordinary general meeting (EGM) of the National Real Estate Bank for Development (NRPD) approved reducing the company’s issued capital to EGP 1.04 million from EGP 52.03 million. The capital cut will reduce the share’s …

Cairo – Mubasher: Target for Real Estate Investment, Development, Agricultural Reclamation, and Tourism Development has raised its stake in Lecico Egypt to 1.33% from 0.48% for EGP 8.68 million. Target purchased 1.02 million shares in Lecico at an …

Riyadh – Mubasher: Sumou Real Estate Company penned a Sharia-compliant facility agreement with Riyad Bank to increase its loan limit to SAR 286 million from SAR 50 million. The firm will use the funding to issue letters of guarantee, according to …