Real estate

The project’s credit facility will reach EGP 1.24 billion
10 December 02:34 PM Palm Hills to get additional facility for The Crown
Cairo – Mubasher: Palm Hills Development Co has obtained the approval of seven banks to raise the credit facility limit for its project “The Crown”. The project’s credit facility will reach EGP 1.24 billion, up EGP 388 million from EGP 852 …
Aqar expected its annual revenues to increase by KWD 140,000
9 December 04:23 PM Aqar Real Estate enters $5m investment in US
Mubasher: Aqar Real Estate Investments announced it has entered a new investment valued at $5 million ($1.53 million) in New Jersey, the US. The Boursa Kuwait-listed company has entered this new business in collaboration with a consortium of …
A provision has been already created for this amount of money
5 December 04:10 PM CBK settles debt with Al Massaleh for KWD 49m guarantee
Mubasher: The Commercial Bank of Kuwait (CBK) has signed an agreement to settle an indebtedness and legal cases with Al Massaleh Real Estate over credit facilities provided by the CBK and have already reached maturity date. The settlement …
Heliopolis Housing secures EGP 1.2bn loan from Banque Du Caire
5 December 11:34 AM Heliopolis Housing secures EGP 1.2bn loan from Banque Du Caire
Cairo – Mubasher: Heliopolis Company for Housing and Development has signed a loan agreement with Banque Du Caire at a value of EGP 1.2 billion. The facility will be used to carry out Heliopolis Housing’s future expansion plans over the coming …
Sell orders on Taameer reached 2.27 million shares
3 December 12:43 PM Taameer Real Estate hits 2-month high on Monday
Mubasher: The stock of Taameer Real Estate Investment increased by 3.6% on Monday to reach its highest level in two months. The stock gained a fils when compared to the closing of November to reach 28.8 fils. About 6.17 million shares were …
The park features a 2,000-worshipper mosque
28 November 10:11 AM Aldar Properties to open AED 250m Reem Central Park in December
Abu Dhabi – Mubasher: Aldar Properties on Wednesday announced completing establishments of Reem Central Park located on Reem Island, Abu Dhabi. Spanning 1 million square metres, the park will be inaugurated in December, Abu Dhabi’s largest …
Misr Italia Properties plans to invest between EGP 2 billion to EGP 2.3 billion in 2019
26 November 07:03 PM Misr Italia Properties to invest EGP 2.3bn in real estate market in 2019
By: Abdullah Bedeir Cairo – Mubasher: Misr Italia Properties plans to invest between EGP 2 billion to EGP 2.3 billion in the Egyptian real estate market in 2019, compared to EGP 1.5 billion in 2018, Mohamed Hany Al Assal, Co- CEO of Misr Italia …
Saudi Arabia’s construction cost rises 1.9% in 12M — Report
26 November 05:14 PM Saudi Arabia’s construction cost rises 1.9% in 12M — Report
Riyadh – Mubasher: The average of construction cost in Saudi Arabia advanced by 1.9% in the 12-month period between the third quarter of 2017 and the same period of this year, Colliers international said in a report. Future Outlook The global …
29 UAE firms make Top 100 GCC market cap list in 2018
26 November 12:50 PM 29 UAE firms make Top 100 GCC market cap list in 2018
Dubai – Mubasher: A total of 29 UAE-based companies made Gulf Business’ list of 100 Best Companies in the GCC by Market Capitalisation for 2018. The report is issued annually in cooperation with Marmore MENA Intelligence. Several UAE banks made …
Generally, the real estate sector outlook is neutral after the trends we have seen in 2018.
25 November 05:21 PM Dubai property sector attractive; new laws to bolster investments – ENBD REIT interview
By: Mahmoud Gamal Dubai – Mubasher: The real estate sector in the UAE in general and Dubai, in particular, has suffered some challenges lately, however, this has not made the sector any less attractive to foreign and local investors alike, …
Grand Investment to sell EGP 14.46m administrative unit
25 November 12:17 PM SODIC’s arm to buy EGP 14.5m administrative unit in Sheikh Zayed
Cairo – Mubasher: Grand Investment Capital’s board of directors has approved to sell an administrative unit in Sheikh Zayed at a cost of EGP 14.46 million. The board agreed to sell the unit spanning approximately 478,300 square metres to Sodic …
22 November 02:44 PM Bahrain’s BBK partners with Naseej on mortgage financing
Mubasher: BBK has signed a memorandum of understanding (MoU) with Naseej to launch a strategic partnership agreement through which BBK will provide mortgage financing to the customers of the Canal View project, which is located in Dilmunia Island. …
The asset is expected to witness investments valued at nearly EGP 15 billion
21 November 05:13 PM Inertia Holding mulls expansion in Egypt
Cairo – Mubasher: Inertia Holding Group plans to purchase two land plots valued at EGP 900 million ($50.1 million) in December, the chairman of the company said, according to Reuters. Each land plot stands at 200 feddens, one of the two assets in …
Charlotte is the fourth fastest growing large city in the US
20 November 12:24 PM Bahrain's Mumtalakat partners Sentinel to acquire assets in US
Mubasher: The kingdom’s sovereign wealth fund Bahrain Mumtalakat Holding Company has announced its acquisition of office buildings in Charlotte, North Carolina Metropolitan Area in the US. This takeover transaction marks Mumtalakat’s second …
ENBD REIT’s NAV registers $285m in 6M
20 November 11:27 AM ENBD REIT’s NAV registers $285m in 6M
Dubai – Mubasher: ENBD REIT, which managed by Emirates NBD Asset Management Limited, on Tuesday announced that its net assets value (NAV) hit $285 million by the end of the six-month period ended 30 September, compared to $289 million during the …
UAE’s Eagle Hills forays into Ethiopia, unveils La Gare project
19 November 07:47 PM UAE’s Eagle Hills forays into Ethiopia, unveils La Gare project
Mubasher: Eagle Hills, a private real estate development company based in Abu Dhabi, announced its entry into the Ethiopian market, launching its 360,000-square-metre project La Gare. Offering over 4,000 residential units, the La Gare project is a …
Dubai’s Al Ghurair adds over 230 homes to AED 5bn project
19 November 07:23 PM Dubai’s Al Ghurair adds over 230 homes to AED 5bn project
Dubai – Mubasher: Al Ghurair Properties has announced the completion of hundreds of homes in four of its projects in Dubai’s Deira. The Dubai-based developer, which is also the real estate arm of Al Ghurair Investment, said that the project worth …
Net operating income from recurring revenue asset portfolio rose 6% year-on-year to AED 381 million
15 November 11:15 AM Aldar logs AED 420m profit in Q3, revenue up 8%
Abu Dhabi - Mubasher: Aldar Properties on Thursday posted an 8% year-on-year increase in revenues for the third quarter of 2018, recording AED 1.5 billion. The Abu Dhabi-based firm recorded a solid gross profit of AED 581 million in Q3-18 …
This new investment in portfolio follows Cluttons ME’s acquisition
14 November 05:43 PM Cluttons Middle East announces major deal in Bahrain
Mubasher: Cluttons Middle East has announced a new leasing deal in Fakhro Tower in Bahrain, according to a recent statement. The real estate asset is one of the most sought-after commercial office buildings in Manama, with Cluttons ME being …
Over 29,000 British citizens have invested AED 88 billion in Dubai property
14 November 05:03 PM Nakheel eyes attracting UK investors to AED 58bn worth of Dubai properties
Mubasher: UAE-based Nakheel on Wednesday announced that it was heading back to the UK to showcase a plethora of real estate projects valued at AED 58 billion (GBP 12 billion or $15.8 billion) at the Dubai Property Show at London Olympia. “More …
Pharos Research maintains FV for TMG Holding at EGP16.5/shr
14 November 03:51 PM Pharos Research maintains FV for TMG Holding at EGP16.5/shr
Cairo – Mubasher: Pharos Research has reiterated their ‘Overweight’ rating recommendation for Talaat Moustafa Group Holding (TMG Holding) at a fair value (FV) of EGP 16.50 per share. This was mainly driven by the company’s commercial built-up area …
The land plot owned by SODIC through its subsidiary Al Yosr for Projects
14 November 03:36 PM Sales of Sheikh Zayed project to begin in 2019 - SODIC
Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) is looking to launch its project established on Al Yosr land in Sheikh Zayed for sale in 2019. The final regulations approved by the New Urban Communities Authority (NUCA) …
Emaar Properties’ profits hit AED 5.26bn in 9M
14 November 03:25 PM Emaar Properties’ profits hit AED 5.26bn in 9M
Dubai – Mubasher: Emaar Properties on Wednesday said its net profits and revenues had grown over the course of the first nine months of 2018 on the back of the initial public offering (IPO) of Emaar Development and foreign exchange movements. The …
Net profit reached EGP 1.18 billion in the nine-month period ended September
14 November 02:43 PM TMG Holding logs EGP 1.18bn profit in 9M
Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) on Wednesday reported a 13% year-on-year increase in consolidated profits for the first nine months of 2018. Net profit reached EGP 1.18 billion in the nine-month period ended …
NREC registered an operating revenue of KWD 18.42 million
14 November 01:46 PM NREC records KWD 10m profits in 9M
Mubasher: National Real Estate (NREC) achieved a net profit of KWD 10.41 million ($34.3 million) during the first nine months of 2018, according to a press release on Wednesday. NREC registered an operating revenue of KWD 18.42 million, and a …