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20 June 10:18 AM

Real estate

An amount of EGP 22 billion has been spent since June 2018
19 June 11:50 AM New Alamein awards EGP 240bn contracts in first phase
Cairo – Mubasher: Total value of contracts of New Alamein City’s first phase reached EGP 240 billion, chairman of New Alamein Government Office, Osama Abdul Ghany, said.   An amount of EGP 22 billion has been spent since June 2018, excluding the …
Real estate
Zada will be officially launched on 29 June 2019
19 June 09:18 AM DAMAC launches new upscale project in Dubai’s Business Bay
Dubai – Mubasher: DAMAC Properties has launched its new project, ‘Zada’, in Dubai’s Business Bay area at a price of only AED 699,999 a month. Zada will be officially launched on 29 June 2019, according to a press release. DAMAC also gives …
The talks were held at the headquarters of Nakheel in Dubai
19 June 09:00 AM UAE’s Nakheel boosts real estate collaboration with Vietnam
UAE –​ Mubasher: Vice President of the Socialist Republic of Vietnam Dang Thi Ngoc Thinh and her government delegation have been in talks with Ali Rashid Lootah, chairman of Nakheel, to reinforce their long term collaboration in the field of real …
Companies Investments
EGP 12 billion will be spend to develop informal settlements by the end of FY19/20
18 June 05:05 PM Egypt to inaugurate 8 developed slums in months – Official
By: Abdullah Bedeir Cairo – Mubasher: Informal Settlements Development Fund (ISDF) has completed developing eight informal settlements to be inaugurated within the coming months, ISDF’s executive director, Khaled Siddiq, told Mubasher. The …
Macroeconomics
The new project is expected to be inaugurated in August
18 June 04:23 PM Saudi Alhokair’s unit injects EGP 1.2bn in Mall of Tanta
By: Ahmed Allam Cairo – Mubahser: Marakez, a subsidiary of Saudi Arabia’s Fawaz Abdulaziz Alhokair, has injected investments worth EGP 1.2 billion in Mall of Tanta, the real estate developer’s vice chairman, Ahmed Badrawi, said.   Located in the …
Companies Investments
The land plots are located in Sheraton Area in Cairo
18 June 11:07 AM Heliopolis Housing sells over EGP 66m assets
Cairo – Egypt: Heliopolis Company for Housing and Development has sold land plots at a total value of EGP 66.7 million during the auction held on Monday, 17 June 2019. The selling of these assets, located in Sheraton Area in Cairo, comes as part …
Companies Investments
The value of lands is estimated to be between EGP 1.6 billion and EGP 2.4 billion
18 June 10:59 AM Heliopolis Housing seeks to sell 3% of land portfolio
By: Islam Fadl Cairo – Mubasher: Heliopolis Company for Housing and Development plans to sell 2% to 3% of its land portfolio in three different areas. Total value of land portfolio in the three areas reached EGP 80 billion ($4.7 billion), the real …
Companies Investments
Al Akaria’s assembly has approved the financials of FY18
18 June 10:25 AM Al Akaria not to distribute dividends for FY18
Riyadh – Mubasher: The general assembly of the Saudi Real Estate Company (Al Akaria) has approved the board’s recommendation of not distributing cash dividend for the full-year 2018. The assembly has also approved the financials of the year ended …
Emicool shall maintain its legal action against Union Properties for the remaining financial dues
18 June 09:00 AM Union Properties to pay dues to Emicool
Dubai – Mubasher: Dubai-based real estate development company Union Properties has committed to pay its accumulated dues to Emirates District Cooling (Emicool), a subsidiary of Dubai Investments, as of 1 January 2018 to date through fixed day …
Real estate
Capital of six large-cap companies increased to EGP 14.5 billion after listing
17 June 12:55 PM EGX-listed real estate firms’ market cap hits EGP 80bn
Cairo – Mubasher: The number of real estate companies listed on the Egyptian Exchange (EGX) reached 36 with a combined market capitalisation of EGP 80 billion, EGX chairman, Mohamed Farid, said.  Return on real estate stocks reached 18% with …
Real estate
Following the settlement, Mashaer will generate a profit of SAR 16.655 million
17 June 11:49 AM Aayan to log $1m profit from Mashaer Holding’s settlement in Saudi Arabia
Mubasher: Aayan Leasing and Investment announced that its latest settlement in Saudi Arabia with its affiliated company Mashaer Holding Co will deliver around KWD 333,000 ($1.1 million) in profits. The expected profit from the recently announced …
Real estate
The Address Residences Dubai Opera consists of two high-rise towers with serviced apartments
17 June 09:44 AM Abanos wins Emaar’s 5-star Address Residences contract
Dubai – Mubasher: Abanos, a leading interior fit-out and joinery company based in the UAE, has been awarded the contract by Emaar Properties for the anticipated 5-star Address Residences in Downtown, Dubai. The Address Residences Dubai Opera …
Real estate
All the construction work of at the new capital's is set for completion in H1-20
17 June 08:50 AM Egypt completes 70% of New Administrative Capital’s infrastructure
By: Abdullah Bedeir Cairo – Mubasher: The official spokesman of Egypt’s New Administrative Capital has revealed the completion of around 60% to 70% of facilities and infrastructure works at the first phase of the new capital. The water facilities …
Real estate
Azizi Aliyah consists of 346 residences
16 June 04:52 PM Azizi Developments completes Azizi Aliyah’s construction work
UAE – Mubasher: Azizi Developments has finished construction works of its AED 470 million Azizi Aliyah project in Dubai Healthcare City. Launched in October 2016, Azizi Aliyah comprises 16 floors, the UAE-based property developer said in a …
The real estate sector has contributed to increasing the domestic product
16 June 01:58 PM Egypt’s parliament considers granting residence to foreigners buying property
By: Abdullah Bedeir Cairo – Mubasher: Egypt’s government has finished a draft law to grant residence to foreigners in return for purchasing a property, the country’s prime minister said on Sunday. The bill has been submitted to the Egyptian …
Macroeconomics
EGP 18bn were spent for informal settlements development
15 June 06:40 PM Egypt to allocate $720m to informal settlements development
By: Abdullah Bedeir Cairo – Mubasher: An amount of EGP 12 billion ($720 million) will be spent by the end of the fiscal year 2019/2020 to resume efforts for the development of informal settlements, executive director of Informal Settlements …
Real estate
The number of transactions soared 31% MoM
15 June 05:23 PM Kuwait’s real estate deals generate $1.26bn in April
Mubasher: The value of real estate transactions in Kuwait surged a 33% month-on-month to KWD 385 million ($1.26 billion) in April on the back of the sales of commercial, residential, and investment properties. The number of transactions soared 31% …
Real estate
The transaction generated over $1m profit
14 June 03:07 PM Dar Al Thuraya sells KWD 1.98m property
Mubasher: Dar Al Thuraya Real Estate Company has achieved KWD 315,000 (KWD 1.036 million) profit through selling one of its building. The building was sold in consideration of KWD 1.98 million ($6.51 million), the company said in a bourse …
Companies Investments
MotorCity is situated on 38 million square feet
13 June 09:59 PM Emicool, Union Properties reach agreement on Motor City’s dispute
Dubai – Mubasher: Emirates District Cooling (Emicool) and Union Properties have successfully reached an agreement regarding the disruption of air conditioning services at the public facilities of Motor City. The Real Estate Regulatory Agency …
Real estate
A project by Al Enmaa Real Estate
13 June 01:56 PM Al Enmaa Real Estate records KWD 1.4m profits in 6M
Mubasher: Al Enmaa Real Estate achieved a surge of 147.7% in profits during the first six months that ended 30 April 2019 compared to the corresponding period a year ago. Earnings grew to KWD 1.38 million ($4.57 million) in the first half ended in …
Financial Results
The Egyptian firm will offer a 22% stake of its shares on the EGX
13 June 01:56 PM Egypt’s gov’t approves handing management of Heliopolis Housing to investor
Cairo – Mubasher: Egypt’s public enterprise ministry and the Holding Company for Construction and Development have initially approved handing the management of Heliopolis Company for Housing and Development to a qualified investor specialised in …
This is the third hotel to open under the Vida Hotels and Resorts brand of Emaar Hospitality in Dubai
13 June 10:51 AM Emaar Hospitality unveils new upscale lifestyle hotel in Dubai
Dubai - Mubasher: Emaar Hospitality Group, the hospitality and leisure business unit of Emaar Properties, on Thursday unveiled its new upscale lifestyle hotel Vida Emirates Hills in Dubai. This is the third hotel to open under the Vida Hotels and …
Real estate
The First Group appointed Shuaa Capital to arrange the anticipated transaction
13 June 09:21 AM Shuaa Capital to arrange $135m sukuk issue for First Group
UAE – Mubasher: The First Group, a leading real estate developer and investor based in Dubai, is planning to issue $135 million in sukuk, a company spokeswoman told Reuters. The group has appointed Shuaa Capital to arrange the anticipated …
The new project spans over an area of 3.95 million square metres
12 June 05:33 PM New Garden City to be complete by December 2020
By: Abdullah Bedeir Cairo – Mubasher: Egypt’s housing ministry is currently establishing New Garden City in the New Administrative Capital’s fifth residential (R5) district. Spanning over an area of 3.95 million square metres, the new project will …
Macroeconomics
The six-month Expo 2020 will be hosted by Dubai from 20 October 2020 through 10 April 2021
12 June 03:20 PM Dubai Expo 2020 to boost real estate business in UAE – Analysis
By: Mahmoud Gamal Dubai – Mubasher: The real estate companies operating in the UAE are facing major challenges that have slowed down their profits and revenue in the first quarter of 2019, economists told Mubasher. Net profit of the real estate …
Real estate