Real estate

The project will feature 350 commercial, administrative, and medical units

27 January 05:54 PM UC Developments plans EGP 5bn projects in New Capital, New Alamein in 2021

By: Abdullah Bedeir Cairo – Mubasher: UC Developments is planning to invest EGP 700 million in a new project in the New Administrative Capital, the CEO Sameh Awad revealed. Spanning over an area of 3,000 square metres, the project will feature 350 …

The total number of established residential units in the city reached 36,343

26 January 01:35 PM Egypt allocates 48 land plots for malls in New Sohag with EGP 360m investment

Cairo – Mubasher: The Head of the New Sohag City Development Authority, Ragab Salman, said that 48 land plots are being allocated for investors for the establishment of shopping malls with investment of EGP 360 million as well as sports …

The company logged EGP 40.22 million in net profits in nine months

25 January 03:58 PM Giza General Contracting awarded EGP 600m contract in New Mansoura City

Cairo – Mubasher: Giza General Contracting and Real Estate Investment Co has been awarded a contract to build 55 residential buildings in New Mansoura City. The buildings will be established in the second phase of Janna luxury housing project at …

Mortgage loans with declining interest rate of 8% are offered under the CBE's initiative

25 January 03:29 PM City Edge Developments inks EGP 1bn cooperation protocol with CIB

Cairo – Mubasher: City Edge Developments signed a protocol of cooperation worth EGP 1 billion with the Commercial International Bank - Egypt (CIB) as part of the real estate mortgage initiative launched by the Central Bank of Egypt (CBE). The …

Real estate prices inched up by 0.1% in Q4 on a quarterly basis.

21 January 10:34 AM Saudi real estate price index down 0.2% in Q4

Riyadh – Mubasher: Saudi Arabia’s real estate price index levelled down by 0.2% year-on-year (YoY) in the fourth quarter (Q4) of 2020. This drop was attributed to lower prices of commercial real estate by 1.9%, according to data from the General …

MNHD is currently developing 10,000 units at five projects in Greater Cairo

20 January 11:49 AM MNHD generates EGP 7bn in pre-sales during 2020

Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) announced that its pre-sales (contracted sales and reservations) for 2020 registered a record EGP 7.011 billion, up by 11.3% year-on-year (YoY) from EGP 6.3 billion. The growth in …

Financial Results

The project has 478 apartments and 12 retail spaces

19 January 03:16 PM Deyaar hands over Bella Rose Project in Dubai

Dubai – Mubasher: Deyaar Development has begun handing over the Bella Rose residential project, the company's second project in Dubai Science Park. The project has 478 apartments and 12 retail spaces to serve the residents and the surrounding …

Gardenia City is built over 513 feddans

18 January 06:00 PM NBE, Banque Misr launch Gardenia City with EGP 26bn investments

Cairo – Mubasher: The National Bank of Egypt (NBE) and Banque Misr announced the launch of Gardenia City with investments of EGP 26 billion. A consortium comprised of Al Ahly Sabbour Development and Founders, a subsidiary of Hyde Park, will be …

Banking and Finance

The resort is expected to be one of the largest leisure tourism destinations in Saudi Arabia.

17 January 04:43 PM Emaar to support development of Rixos Emerald Shores resort project

Riyadh – Mubasher: Emaar The Economic City has signed a framework cooperation agreement with the Tourism Development Fund, FTG Development Company, Albilad Investment Company, and Ekofine Holding BV to establish a SAR 1.8 billion closed and …

Talaat Moustafa Group flagship Madinaty development

17 January 12:16 PM Talaat Moustafa Group reveals new project with EGP 500bn investments

Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) said that its subsidiary the Arab Company for Projects and Urban Development is finalising procedures to sign a contract with the New Urban Communities Authority (NUCA) to obtain 5,000 …

The FPF event will see the attendance of more than 37 government and private bodies.

17 January 11:19 AM Third edition of Future Projects Forum to kick off in March

Riyadh – Mubasher: Saudi Contractors Authority (SCA) announced that the 2021 edition of the Future Projects Forum (FPF) will take place virtually from 22-24 March, state-run Saudi Press Agency (SPA) reported on Sunday. The FPF event is one of …

Talaat Moustafa Group recorded net profits of EGP 1.569 billion in nine months

14 January 05:44 PM Talaat Moustafa Group's unit gets approval to develop 5k feddans in Capital Gardens City

Cairo – Mubasher: The Egyptian cabinet approved a request from the Ministry of Housing, Utilities, and Urban Communities to enter into agreement with a subsidiary of Talaat Moustafa Group Holding (TMG Holding). The company will develop 5,000 …

The land plots are planned to have a density of 150 people per feddan.

13 January 03:48 PM Heliopolis Housing launches auction to sell 270-feddan land plots in New Heliopolis City

By: Abdullah Bedeir Cairo – Mubasher: Heliopolis Company for Housing and Development, a subsidiary of Holding company for Construction and Development (HCCD), launched a sealed-envelope auction to sell two vacant land plots, spanning over a …

The project will include 100 residential plots

13 January 11:44 AM Ithmaar Holding partners with Naseej to develop BHD 40m residential project

Mubasher: The Bahrain-based Ithmaar Holding has reached an agreement with Naseej to establish a BHD 40 million residential project in the northern governorate area of Barbar. Spanning over around 150,000 square metres, the project will include 100 …

Seven Palm has attracted $125.5 million investments

11 January 12:46 PM UAE's Seven Tides registers $152m sales in Golf Views, Seven Palm

UAE - Mubasher: The UAE-headquartered property developer Seven Tides has achieved total annual sales of $152 million in its two developments, Golf Views Seven City and Seven Palm, in 2020. Located on The Palm Jumeirah, Seven Palm has attracted …

The real estate developer has reached a new Islamic loan agreement

11 January 11:51 AM Sharjah's Arada sees 35% higher sales in 2020; secures new loans

UAE - Mubasher: Sharjah-based property developer Arada recorded a 35% year-on-year (YoY) rise in the value of real estate sales to AED 1.75 billion in 2020. The strong sales performance of Arada is attributed to a large number of project handovers …

Companies Investments

The iconic tower is set to be the tallest in Africa at about 400 metres

10 January 01:38 PM New capital’s iconic tower reaches its 53rd floor

Cairo – Mubasher: The Egyptian Minister of Housing, Assem El-Gazzar, said that 53 floors of the iconic tower in the Central Business District (CBD) in the New Administrative Capital have been established so far. The iconic tower is set to be the …

A European fund buying the Sky View tower for AED 750 million

6 January 11:19 AM Emaar Properties announces sale of Sky View hotel

Dubai – Mubasher: Emaar Properties announced the disposal of the entire stake of the subsidiary ASV Group Limited, owner of Sky View hotel, 169 Keys, and its operations. The real estate developer signed the hotel management agreement and will keep …

Companies Investments

The St. Regis Cairo Hote has a construction area of more than 197,000 square metres

6 January 10:20 AM Qatari Diar inaugurates St. Regis Cairo Hotel

Cairo – Mubasher: The Qatari Diar Company on Tuesday inaugurated the St. Regis Cairo Hotel in the presence of the Qatari Minister of Finance, Ali Sherif Al-Emadi, the US Secretary of Treasury, Steven Mnuchin, and the Egyptian Minister of Finance, …

The Social Development Bank will provide interest-free financings with a two-year grace period.

5 January 01:00 PM REGA, Social Development Bank launch real estate excellence programme

Riyadh – Mubasher: The Saudi Real Estate General Authority (REGA) and the Social Development Bank (SDB) launched on Tuesday the real estate excellence programme with the aim to finance and support small real estate entities, Saudi Press Agency …

Banking and Finance

Photo Archive

5 January 12:22 PM Sumou Holding acquires Jeddah’s Lamar Towers Project

Riyadh – Mubasher: Sumou Holding Company has acquired Lamar Towers Project in Jeddah city after receiving a go-ahead from the Off-Plan Sales or Rent Programme (WAFI). The acquisition aims to protect the project’s rights and obligations, including …

Mergers and Acquisitions

The country invested EGP 13.2 billion in the housing sector

5 January 12:12 PM Egypt builds EGP 63bn housing, infrastructure projects in Upper Egypt since 2014

Cairo – Mubasher: The Egyptian Ministry of Housing, Utilities, and Urban Communities has been implementing developmental projects at a cost of EGP 63 billion in Upper Egypt since the President Abdel Fattah El-Sisi took office in 2014. The country …

The surge in the number of sales reflects the company's strong performance

3 January 10:36 AM Reportage Properties sees 125% higher sales in 2020

UAE - Mubasher: The UAE developer Reportage Properties has achieved AED 812 million sales in 2020, up 125% from AED 362 million in 2019, according to a recent press release. The surge in the number of sales reflects the company's strong …

Photo Archive

31 December 2020 04:26 PM Sumou pens swap agreement in real estate projects

Riyadh – Mubasher: Sumou Real Estate Company and Sumou Holding Company signed a swap agreement on 30 December 2020. Under the agreement, Sumou Real Estate increased its additional contributions in Al-Dhahiya El-Ghrbiya Company in Makkah city by …

Companies Investments

The decision allows owners of illegally-constructed buildings to settle with the state

31 December 2020 04:11 PM Egypt extends deadline for settling construction violations until March-end

Cairo – Mubasher: The Egyptian cabinet decided to extend the deadline for settling building violations for a three-month period ending on 31 March 2021. If the settlement is made in January, applicants have to pay 30% of the value of the …