By: Abdullah Bedeir Cairo – Mubasher: The Egyptian Ministry of Housing and the New Urban Communities Authority (NUCA) have estimated the cost of developing the New Administrative Capital's R5 residential district at EGP 80 billion. The R5 …
Cairo – Mubasher: The board of directors of Six of October Development and Investment (SODIC) announced the appointment of Osama Abdel Moneim Mahmoud Saleh as the non-executive chairman. The appointment will be effective as of 1 April 2020, the …
Mubasher: Al Massaleh Real Estate reported lower losses by 27% on an annual basis over the fiscal year (FY) ended on 31 December 2019. The losses amounted to KWD 1.69 million (about $5.39 million) by 2019 year-end, compared to KWD 2.31 million …
Mubasher: The losses of Taameer Real Estate Investment decreased by 19.9% annually during the fiscal year (FY) 2019 to reach KWD 1.08 million (around $3.48 million) when compared to KWD 1.35 million (about $4.34 million). In the fourth quarter …
Mubasher: United Real Estate Company (URC) has signed a credit facility agreement with a local bank for KWD 7 million ($22.4 million). The loan will finance the company’s commitments and will be due on 15 March 2023, according to a statement to …
By: Abdullah Bedeir Cairo – Mubasher: The Egyptian Ministry of Housing has estimated the cost of slum development plan at EGP 396.2 billion. The plan includes developing unsafe and unplanned areas and markets, according to a document reviewed by …
Mubasher: Boursa Kuwait has resumed trading the stock of Ajwan Gulf Real Estate as of Sunday, 29 March 2020. The decision comes after the Kuwaiti firm had paid the annual subscription fees for 2020, according to an official statement. It is …
Mubasher: Kuwait Remal Real Estate incurred higher losses by 68.5% on an annual basis during the fiscal year (FY) 2019. Losses for the period amounted to KWD 2.23 million ($7.19 million) by 2019 year-end, compared to KWD 1.32 million ($8.02 …
Cairo – Mubasher: The Egyptian minister of housing Assem El-Gazzar announced the completion of 166,000 housing units as part of the national project to develop 298 slums areas. A total of 75,000 housing units are currently being set up to improve …
Cairo – Mubasher: A new $500 million funding package from the World Bank will finance existing low-income housing programmes by the Egyptian government, Egyptian Minister of Housing, Utilities, and Urban Communities, Assem El-Gazzar, said in an …
By: Islam Fadl Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) issued a decision requiring mortgage, financial leasing, and factoring companies to extend the repayment period of loans to retail and corporate customers for six …
Dubai – Mubasher: Property Finder, an online property portal that helps buyers and renters in the MENA region find a home, reported a surge in real estate transactions in Dubai during the early months of 2020, ahead of concerns regarding the …
Mubasher: Aqar Real Estate Investments Company received KWD 2.2 million worth of credit facilities from a local bank to finance the company's operating activities. The loan is granted at an interest rate of 1.5% above the discount rate announced …
Cairo – Mubasher: Egypt has completed the concrete structure works of the first tower out of total 20 towers being established at the New Administrative Capital’s $3 billion central business district (CBD). The 80-metre C03 tower includes …
Mubasher: Investcorp announced that its European real estate business has acquired The Bridge, a single let office and research and development (R&D) asset in Brussels, from a wholly-owned subsidiary of the Coca-Cola Company for EUR 88 million …
Mubasher: Al Enmaa Real Estate Company reported a decrease in profits by 71% in the first quarter (Q1) ended on 31 January 2020 due to lower operating profit. The profits for the period registered KWD 281,208 ($914,800), compared to KWD 967,818 …
UAE – Mubasher: Aldar Properties has signed a strategic agreement with the Authority of Social Contribution (Ma'an) to invest AED 2 million in the GCC’s first social impact bond by Ma'an. As part of the agreement, Aldar and Ma'an will cooperate in …
Mubasher: Tamdeen Real Estate reported an increase in net profits by 40.2% during the fiscal year (FY) 2019. The profits amounted to KWD 7.62 million by 2019 year-end, compared to KWD 5.43 million, according to a disclosure to the Kuwaiti bourse …
Mubasher: The net profit of the National Real Estate Company (NREC) increased by 5.7% on an annual basis to KWD 11.4 million ($37.22 million) in 2019, compared to KWD 10.82 million ($(35.19 million) in 2018. The growth in last year’s profits is …
Dubai – Mubasher: Emaar Properties confirmed the news about the temporary suspension of bookings in three of its hotels amid rising concerns over the spread of the novel coronavirus (COVID-19). The company’s subsidiary Emaar Hospitality Group …
Mubasher: Salhia Real Estate’s ordinary general meeting (OGM) consented to the proposed dividend distribution of 25 fils per share or 25% of the share’s nominal value for the fiscal year 2019. During its meeting, the OGM further approved last …
Cairo – Mubasher: The board of directors of Madinet Nasr Housing and Development (MNHD) approved a request from an investor to conduct due diligence process on its subsidiary El Nasr for Utilities and Installation Company. This came after an …
Cairo – Mubasher: Cityscape Egypt, originally set to be held from 18 to 21 March, has been postponed as the government decided to halt all large public gatherings amid rising concerns over the spread of the new coronavirus (COVID-19), the leading …
Cairo – Mubasher: Sol Global Holding owned by Mansour Amer sold nearly its entire stake in Porto Group Holding. The transaction included the sale of 50.15 million shares or 5% of the company’s share capital for a value of EGP 28.136 million, …
Mubasher: The financial statements of Arkan Al Kuwait Real Estate indicated higher annual profits by 3% over the first quarter ended on 31 January 2020 to KWD 312,918 (approx. $1.03 million) when compared to KWD 304,527 (approx. $998,770). The …
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