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23 January 04:55 PM

Real estate

The ISDF has developed over 180,000 units
56 minutes ago Egypt spends EGP 23.5bn to develop unsafe slums
By: Abdullah Bedeir Cairo – Mubasher: The total amount spent on unsafe informal settlements from 2016 until January 2020 reached EGP 23.5 billion, executive director of Egypt’s Informal Settlements Development Fund (ISDF) Khaled Siddiq told …
Macroeconomics
The facilities will be due on 2 June 2022
56 minutes ago United Real Estate pens KWD 10m loan deal with AUB Kuwait
Mubasher: United Real Estate has renewed a credit facilities agreement with Ahli United Bank – Kuwait (AUB Kuwait) at a value of KWD 9.966 million.   The loan will be due on 2 June 2022 and will be used in financing the Kuwaiti firm’s investments …
Companies Investments
Azad development will feature 350 units in New Cairo
3 hours ago TAMEER targets EGP 3.5bn sales from 2 new projects
Cairo – Mubasher: Egypt-based Development and Engineering Consultants Co (TAMEER) is looking to develop new residential and commercial projects in Cairo, the company’s managing director Antoine El-Khoury told Thomson Reuters Projects News. The …
Real estate
The debt covered an investment in Kuwait
4 hours ago Ream Real Estate to reschedule KWD 6m debt with Warba Bank
Mubasher: Ream Real Estate Company announced that it will reschedule its existing debt with Warba Bank at a value of KWD 5.95 million. The debt covers one of the company’s investments in Kuwait, according to a bourse statement on Thursday.    The …
Banking and Finance
The company suffered a loss of KWD 5.1 million in Q4-19
09:35 AM Al Imtiaz Investment records KWD 19.7m profit in 2019; dividends proposed
Mubasher: The profits of Al Imtiaz Investment Group slid by 1.5% year-on-year (YoY) during the fiscal year ended on 31 December 2019 to reach KWD 19.72 million ($65.07 million) when compared to KWD 20.02 million ($66.08 million). The lower annual …
Board of Directors
The project is slated for delivery in 2023
22 January 09:19 PM Namaa for Development launches EGP 2bn project in New Administrative Capital
By: Abdullah Bedeir Cairo – Mubasher: Namaa For Development & Real Estate Investment has launched EGP 2 billion project in the New Administrative Capital. Named ‘Capital One’, the project is planned to be situated on 60,000 square metres with a …
Companies Investments
The decision will be effective on 31 January
22 January 01:22 PM Dalqan Real Estate’s general manger resigns
Mubasher: Dalqan Real Estate announced that its board of directors has approved the resignation of the company’s general manager, Saud Abdullah Saud Al Mutairi, which he submitted on 16 January 2020. The decision shall be effective starting from …
Board of Directors
Roads and entrances to the city will be developed at a cost of EGP 455 million
22 January 01:00 PM Egypt executes EGP 1.5bn New Borg El-Arab development plan
Cairo – Mubasher: The Egyptian Ministry of Housing, Utilities, and Urban Communities has approved the master plan for New Borg El-Arab city to be developed as a comprehensive urban community. At a combined cost of EGP 1.5 billion, roads and …
Real estate
The two entities inked an MoU
21 January 07:14 PM SRC buys SAR 250m mortgage portfolio from Bank Aljazira
Riyadh – Mubasher: The Saudi Real Estate Refinance Company (SRC), a subsidiary of the Saudi Public Investment Fund (PIF), on Tuesday signed an agreement with Bank Aljazira to buy a SAR 250 million mortgage portfolio, the Saudi Press Agency …
Banking and Finance
The facility will be used for a loan repayment
21 January 06:41 PM Palm Hills signs EGP 505m facility agreement with AUB Egypt
Cairo – Mubasher: Palm Hills Development Company has signed an EGP 505 million short-term facility agreement with Ahli United Bank (AUB) Egypt, according to a bourse statement released on Tuesday. The company announced that it will use the …
Banking and Finance
A total of 17,000 residential units were built in partnership with the private sector
21 January 03:30 PM Egypt's gov’t builds 437k residential units in 2019
Cairo – Mubasher: The Egyptian government established 437,000 residential units over the course of 2019, according to data revealed by the cabinet’s Media Center on Tuesday. A total of 17,000 residential units were built in partnership with the …
Real estate
A real estate planning committee was set up in Dubai in 2019
21 January 02:18 PM Dubai property market likely to recover in 2020 - Seven Tides
UAE – Mubasher: The real estate market in Dubai is expected to thrive in 2020, driven by Expo 2020, new government initiatives, and flexible repayment plans, according to Seven Tides, a leading company in developing a residential, hospitality and …
Real estate
Total direct support to the project amounted to EGP 4.6 billion
21 January 01:34 PM Egypt's housing ministry spends EGP 60bn on social housing units
Cairo – Mubasher: Egypt has spent EGP 60 billion so far out of total EGP 195 billion needed for the establishment of 1 million social housing units, the country’s housing minister Assem El-Gazzar said. Total direct subsidies to the project …
Real estate
The two real estate developments are expected to generate sales of about EGP 10 billion
21 January 12:30 PM DM Development to launch New Cairo, North Coast projects at EGP 3bn in FY21/22
By: Fahd Omran Cairo – Mubasher: DM Development is looking to launch two property projects in the North Coast and New Cairo by the beginning of fiscal year 2021/2022. With total investments of EGP 3 billion, the North Coast project and the New …
Companies Investments
The transaction’s impact will reflect on the annual financials
21 January 11:12 AM Sanam Real Estate inks deals to buy KWD 2.7m medical property
Mubasher: Sanam Real Estate has signed the final contracts to purchase a medical property in Kuwait at a value of KWD 2.7 million, with a 9.04% return on investment (RoI). The contracts were registered in the Real Estate Registration Department of …
Real estate
Mabanee submitted the best offers to "J3" investment opportunity
20 January 05:03 PM Three Kuwaiti listed firms win investment opportunity in Jaber Al Ahmad city
Mubasher: Mabanee Co, among a consortium of Kuwaiti companies, received a letter of notification on Monday from the Public Authority for Housing Welfare awarding the investment opportunity “J3” in Jaber Al Ahmad Residential City. As …
Real estate
Talaat Moustafa Group submitted a request to purchase a 500-feddan land plot
20 January 04:06 PM Talaat Moustafa Group likely to finalise talks over west Assiut land in month
By: Abdullah Bedeir Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) is in negotiations with the Ministry of Housing’s New Urban Communities Authority (NUCA) to purchase a land plot, the company’s CEO and managing director Hisham …
Real estate
The transaction’s impact will reflect on the annual financials
20 January 01:49 PM Arkan Al Kuwait purchases property at KWD 6.2m
Mubasher: Arkan Al Kuwait Real Estate has signed the final contracts to buy a commercial property worth KWD 6.16 million, with an 8.4% return.   The property was registered at the Land Registry of the Ministry of Justice, according to a bourse …
Financial Results
Appointing Kesisoglu came as Property Finer's MENA expansion plans
19 January 12:14 PM Property Finder hires Facebook, Google’s tech expert as new president
UAE – Mubasher: Property Finder, a UAE-born start-up which helps buyers and renters to find a home, has appointed the technology leader, Ari Kesisoglu, as the new president. The appointment of Kesisoglu, who previously led various positions in …
Corporate Actions
Mulkia Investment will distribute SAR 10.2 million to the REIT unitholders
16 January 10:18 AM Mulkia Gulf REIT to distribute SAR 0.17/unit
Riyadh – Mubasher: Mulkia Investment Company announced the distribution of SAR 10.2 million in cash dividends to Mulkia Gulf Real Estate REIT Fund unitholders for the fourth quarter (Q4) of 2019. The amount of profit distributed per unit stands at …
Cash Dividends
The winning bidder will acquire a 10% stake in the company
15 January 11:16 AM Heliopolis Housing extends deadline for bid submissions
Cairo – Mubasher: Heliopolis Company for Housing and Development (HHD) announced extending the deadline for submitting bids to acquire a 10% stake in the company with management rights to 21 February. Any other developments regarding this matter …
Event
The transaction will not have any impact on the firm’s financials
14 January 04:39 PM Kuwait Business Town sells investment property at KWD 25.5m
Mubasher: The board of Kuwait Business Town Real Estate Company approved the selling of an investment property to one of the company's subsidiaries at a value of KWD 25.501 million, without achieving a profit nor a loss. The transaction will not …
Financial Results
“5A” features built-up areas spanning over 35,000 square metres
14 January 04:18 PM The Waterway launches EGP 4bn ‘5A’ business area in New Cairo
Cairo – Mubasher: The Waterway has launched ‘5A’ integrated business area, comprising administrative, commercial, and entertainment services, in Cairo’s Tagamou El-Khames with investments totalling EGP 4 billion. Spanning over 35,000 square …
Companies Investments
Al Enmaa’s profits increased by 94.6% in 9M-19
14 January 11:12 AM Al Enmaa Real Estate turns profitable FY19 financials
Mubasher: Al Enmaa Real Estate Company reported a positive change in its financials for fiscal year ended on 31 October 2019, against losses incurred in 2018. The company’s annual profits reached KWD 1.704 million ($5.63 million) in fiscal year …
Financial Results
The distribution amount represents 1.9% of the REIT fund unit’s original price
13 January 05:01 PM Jadwa REIT Saudi to distribute SAR 0.19/unit
Riyadh – Mubasher: Jadwa Investment Company announces the distribution of SAR 30.02 million cash dividend to Jadwa REIT Saudi Fund’s unitholders for the fourth quarter (Q4) of 2019. SAR 0.19 will be distributed per unit to 158 million units, …
Real estate