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Infrastructure of the development is designed to minimize its carbon footprint
13 April 01:38 PM Red Sea Development to build Coastal Village for 14,000 employees
Riyadh – Mubasher: The Red Sea Development Company is commencing the infrastructure works at Coastal Village, which is expected to house approximately 14,000 employees who will eventually work at the destination. The Saudi developer awarded the …
The two properties have a total land area of 261 square metres
13 April 01:06 PM Jadwa to merge two properties and develop new hotel tower
Riyadh – Mubasher: Jadwa Investment Company announced the merger of the two property title deeds related to Tharawat Wadi Ibrahim Hotel and the restaurant building to develop a hotel tower. The merged title deed has a total land area of 261 square …
This step follows the major acquisitions of neo capital in 2020
13 April 11:26 AM Dubai's neo capital implements $73m JV acquisition of property in US
UAE - Mubasher: neo capital, based in Dubai International Financial Centre (DIFC), has secured a joint venture (JV) acquisition of Harbor Landing at a total value of $73 million (AED 268 million) to promote its global asset portfolio in the US. …
Communications services will be provided through FTTH technology
12 April 05:02 PM Telecom Egypt inks protocol of cooperation with Ora Developers
Cairo – Mubasher: Telecom Egypt signed a protocol of cooperation with Ora Developers to provide integrated communications services to the latter’s real estate projects. Under the protocol, the telecom operator will extend its network and provide …
Tatweer Misr's CEO, Ahmed Shalaby
12 April 01:33 PM Tatweer Misr launches EGP 10bn educational area in Mostakbal City
By: Abdullah Bedeir Cairo – Mubasher: Tatweer Misr aims to establish an educational area in its integrated urban community in Mostakbal City over an area of 90 feddans with an investment of EGP 10 billion. Upon completion in 10 years, the area …
Sumou’s number of shares will increase by 12.5 million
8 April 04:45 PM Saudi CMA approves for Sumou SAR 125m capital hike
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) gave the green light for Sumou Real Estate Company’s request to increase the capital by SAR 125 million from the retained earnings balance. Sumou aims to raise the capital to SAR 375 …
The value of the transaction represents 5.79% of the ADNTC's capital
8 April 01:07 PM ADNTC signs deal to buy AED 6m commercial real estate in Dubai
Abu Dhabi – Mubasher: Abu Dhabi National Takaful Company (ADNTC) has inked an agreement to purchase commercial real estate in the Regal Tower in Business Bay in Dubai at a total value of AED 5.798 million. The value of the transaction represents …
The new conditions will be announced in a press conference on 15 April.
6 April 11:22 AM Egypt to launch pilot phase of new construction licensing system in May
Cairo – Mubasher: Egyptian Prime Minister Mostafa Madbouly announced the approval of the new construction licensing system. The pilot phase of the new system will be launched on 1 May for a period of two months in certain cities before being …
So far, three major companies have obtained the booklet of conditions
4 April 01:41 PM Heliopolis Housing launches Heliopark development project
By: Abdullah Bedeir Cairo – Mubasher: Heliopolis Company for Housing and Development has released the booklet of conditions for the development of Heliopark project over an area of 1,695 feddans in New Cairo, the Chairman, Khaled Zakareya Emam, …
The land is dedicated for residential use
1 April 04:12 PM Heliopolis Housing sells land in New Heliopolis for EGP 2.5bn
Cairo – Mubasher: Heliopolis Company for Housing and Development announced the sale of two land plots dedicated for residential use over an area of 270 feddans in the 20th district in New Heliopolis City in a public auction for EGP 2.5 billion. …
The company's revenues decreased by 42.238% in 2020
31 March 01:44 PM Emaar The Economic City's net losses deepen in 2020
Riyadh – Mubasher: The net losses after zakat and tax of Emaar The Economic City hiked by 134.146% to SAR 1.248 billion in 2020 from SAR 533 million in 2019. The increase in net losses is driven by lower revenues and gross profit in 2020 due to a …
The group will build an administrative-commercial project in New Cairo
30 March 05:25 PM Shoura Group aims to invest EGP 1.3bn in three real estate projects
By: Abdullah Bedeir Cairo – Mubasher: Shoura Group aims to invest EGP 1.3 billion in three real estate projects, the CEO of the group’s property development arm Developer X, Ahmed Fouad, revealed. The group will start building an …
The company generated revenues of SAR 499.9m in 2020
30 March 09:52 AM Al Akaria's net losses decline 24.5% in 2020
Riyadh – Mubasher: The net losses after zakat and tax of Saudi Real Estate Company (Al Akaria) decreased by 24.517% to SAR 140.7 million in 2020 from SAR 186.4 million in 2019. The company incurred lower losses due to lower rental revenues with an …
The new project will feature 2,500 residential units
28 March 04:10 PM Amer Group to invest EGP 2.5-3bn on residential project in New Minya
By: Abdullah Bedeir Cairo – Mubasher: Amer Group Holding Co has started construction works at its residential project in New Minya City, Hosny Hany Omar, Head of the Real Estate Sector at Amer Group, said. Spanning over 60 feddans, the new project …
Minister of Housing Assem El-Gazzar
25 March 06:06 PM Egypt builds 250k housing units for residents of unsafe areas with EGP 65bn
By: Abdullah Bedeir Cairo – Mubasher: Egypt has provided 200,000 residential units for residents of unsafe areas and is building another 50,000 units scheduled for completion by the end of 2021, Minister of Housing Assem El-Gazzar said. The total …
Minister of Housing, Assem El-Gazzar
25 March 05:23 PM Egypt to inaugurate New Administrative Capital in H2-21
By: Abdullah Bedeir Cairo – Mubasher: The Egyptian Minister of Housing, Assem El-Gazzar, announced on Thursday that a number of new cities will be inaugurated during the second half (H2) of 2021, including the New Administrative Capital, West …
The company plans to build integrated residential project in Sheikh Zayed
25 March 11:30 AM Emaar Misr to build new residential project with EGP 37.8bn investment
Cairo – Mubasher: Emaar Misr for Development signed a contract with the New Urban Communities Authority (NUCA) to acquire a 500-feddan land in Sheikh Zayed to build an integrated residential project. The value of investments in the project is …
Revenues grew to $3.371 billion in 2020
25 March 10:54 AM Orascom Construction logs $97m profit, $5.4bn backlog in 2020; dividends proposed
Cairo – Mubasher: Orascom Construction Plc reported consolidated net profits of $97.1 million in 2020, down by 26% year-on-year (YoY) from $131.1 million, including minority shareholders’ rights. The net profits attributable to the owners of the …
The signing ceremony - (Photo Credit: Press Release)
23 March 03:05 PM Living Yards Developments, EFS Misr sign MoU
Cairo – Mubasher: Living Yards Developments Egypt recently signed a memorandum of understanding (MoU) with EFS Misr Facilities Service. “This up-and-coming partnership culminates Living Yards’ latest remarkable successes in its New Administrative …
REIF achieved an initial closing at a total value of SAR 2.8 billion
22 March 12:43 PM Jadwa Investment launches real estate investment fund
Riyadh – Mubasher: Jadwa Investment announced on Monday the launch of its Real Estate Investment Fund (REIF) in partnership with Tatweer Holding Group, Riyad Bank and Bank Albilad. “The objective of the fund is to provide investors with a stable …
A total of 67% of overall transactions were for the secondary and ready properties
21 March 12:14 PM Dubai's real estate market sees 14% higher number of sales transactions in February
UAE - Mubasher: Dubai recorded 3,787 sales transactions worth AED 7.43 billion in the real estate market in February 2021, up 13.8% in terms of volume and 8.9% in terms of value from January 2021. The total number of sales transactions in Dubai's …
The deadline for submitting offers is on 16 June
21 March 10:54 AM Heliopolis Housing delays releasing RFP for Heliopark development project
Cairo – Mubasher: Heliopolis Company for Housing and Development postponed the release of the  request for proposals (RFP) related to the development of Heliopark project over an area of 1,695 feddans in New Cairo to 4 April instead of 22 March. …
The company aims to deliver 3,500 units during 2021
17 March 02:17 PM Porto Group Holding set to launch new JV in near future
Cairo – Mubasher: Porto Group Holding is set to establish a new joint venture (JV) in partnership with Prime Group Egypt, UAE’s Asmak Co. in the coming period. The real estate developer is also working on 15 projects inside Egypt and abroad, …
The shareholders will consider not to distribute cash dividends
17 March 12:35 PM Emaar Development’s OGM considers withholding dividend distribution
Dubai – Mubasher: The shareholders of Emaar Development, a subsidiary of Emaar Properties, will consider not to distribute cash dividends. Withholding cash dividend distribution, proposed by the company’s board, will be discussed during the …
The real estate developer targets EGP 3 billion in presales this year
16 March 01:58 PM Porto Holding eyes EGP 1.3bn investments in 2021
By: Abdullah Bedeir Cairo – Mubasher: Porto Group Holding is planning to invest EGP 1.3 billion in its projects in 2021, the Deputy Chairman, Ayman Mokhtar Khalifa, revealed. The real estate developer also targets EGP 3 billion in presales during …