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21 April 05:21 PM

Real estate

The revival of the tourism sector is also another large contributor to employment
28 minutes ago Growth towards new cities in Egypt is inevitable – JLL
Cairo – Mubasher: The Egyptian government has pumped approximately EGP 200.7 billion worth of investment in the implementation of projects in the new cities being established across the country, while the private sector has invested nearly EGP 400 …
Real estate
The deal is expected to be sealed with the government ahead of end-April
2 hours ago El-Attal Holding seeks gov’t partnership to expand outside Cairo
By: Abdullah Bedeir Cairo – Mubasher: El-Attal Holding is currently in talks with the Egyptian government to build social housing units outside Cairo, the company’s chairman said. The real estate firm is negotiating with state-run entities to …
Macroeconomics
Porto Group and Amer Group announced split-up in 2015
2 hours ago Amer Group, Porto Group unveil projects’ progress after split-up
Cairo – Mubasher: Porto Group Holding and Amer Group Holding Co have mentioned the latest updates pertaining to their projects after split-up in 2015. The two firms’ subsidiaries reached 11 in 2015 and 2016, while they totaled 12 and 13 in 2017 …
Corporate Actions
TMG Holding reported EGP 1.77 billion in consolidated profits for FY18
3 hours ago TMG Holding seeks to amend five-star hotel deal with Egoth
Cairo – Mubasher: Talaat Mostafa Group Holding (TMG Holding) is looking at amending its agreement with the Egyptian General Co. for Tourism & Hotels (Egoth) through one of its subsidiaries. Upon the deal, the Cairo-based real estate firm will …
Real estate
Rents and property prices have decreased the most in Q1-19
11:47 AM Over 20,000 units likely to enter Dubai market in 2019
Dubai – Mubasher: The real estate sector in Dubai has witnessed more than 20,000 units entering the market during 2018, head of consulting at Chestertons MENA Ivana Vucinic said, according to TimeOut Dubai. The new units have resulted in a …
Sector Reports
The new schools have 166 classrooms
10:55 AM El Sherouk City Authority builds 4 schools
Cairo – Mubasher: El Sherouk City Authority is currently building four new schools in El Sherouk City, the authority chairman said. The new schools have 166 classrooms, Abdel Raouf El Gheity added in a statement, noting that the authority is keen …
Real estate
The project features a wide range of two- and three-bedroom townhouses
10:22 AM RAK Properties awards AED 500m contract for Al Ali Construction
Abu Dhabi – Mubasher: Ras Al Khaimah Properties (RAK Properties) has awarded an AED 500 million contract for the construction, infrastructure and landscape work of Marbella Villas Project to Al Ali Construction & Development. Located in the …
Real estate
UPP posted a profit of AED 62.3 million in 2018
09:37 AM UPP’s shareholders approve 10% share buyback
Dubai – Mubasher: Union Properties (UPP) on Sunday announced that its general assembly has approved purchasing only 10% of the company’s paid-up share capital, according to a filing to the Dubai Financial Market (DFM). UPP will re-sell those …
Corporate Actions
"The popularity of apartments is increasing"
18 April 11:22 PM Affordable housing market remains solid in Riyadh, Jeddah
Riyadh – Mubasher: The demand for lower- and middle-income housing is still strong in two major Saudi cities despite the sluggish growth in the real estate market, according to a report released by audit, tax, and advisory services provider KPMG …
Companies Investments
The auction was held on Monday, 8 April
18 April 03:01 PM Kuwait’s MoF sells KWD 6.7m assets
Mubasher: Kuwait’s Ministry of Finance (MoF) has raised around KWD 6.7 million ($22.1 million) from the sale of residential, commercial, and industrial assets owned by the nation. The auction, held on Monday, 8 April, was the ministry’s first one …
Real estate
The company achieved a net profit of EGP 25 million from the deal.
18 April 02:40 PM Real Estate Egyptian Consortium sells 2 assets for EGP 45m
Cairo – Mubasher: Real Estate Egyptian Consortium (AREH) on Thursday announced that it has sold two administrative assets in an a tower located in El-Batal Ahmed Abd El Aziz, Mohandeseen to Banque Misr at a combined value of EGP 45 million.  The …
Companies Investments
This is Investcorp’s third real estate investment in Germany
18 April 02:34 PM Investcorp expands in Europe via new property asset in Germany
Mubasher: Bahrain-based Investcorp announced a new expansion in Europe through its real estate investment team in London which has acquired Lyoner Stern, a multi-let office building in Frankfurt, Germany. The new takeover transaction is …
Real estate
The company has already started offering plots for sale
18 April 12:33 PM Heliopolis Co for Housing to offer 44 land plots in auction
Cairo – Mubasher: Heliopolis Company for Housing and Development (HELI) will offer 44 land plots in Sheraton in an auction on 2 May, the managing director of the Cairo-based real estate firm said. The 44 plots will be located on the main streets, …
Companies Investments
Foreigners were previously allowed 99-year leasehold arrangements
18 April 11:41 AM Abu Dhabi’s foreign ownership rules to boost real estate sector – Aldar
Abu Dhabi – Mubasher: Aldar Properties welcomed the Abu Dhabi government’s decision allowing all foreigners to own the freehold of land and properties they purchase in investment zones, which was previously limited to UAE and GCC citizens, the …
Real estate
Al Mudon attributed the rise in 2018 losses to lower investments in JV
18 April 10:14 AM Al Mudon deepens losses in 2018
Mubasher: Al Mudon International Real Estate reported a 48.9% year-on-year rise in losses during the fourth quarter of 2018. Al Mudon International’s losses amounted to KWD 495,420 ($1.63 million) in Q4-18, compared to KWD 332,830 ($1.1 million) …
Financial Results
Foreigners own all the rights of real estate properties within their investment zones
17 April 06:16 PM UAE President amends foreign property ownership rules in Abu Dhabi
Abu Dhabi – Mubasher: UAE President and ruler of Abu Dhabi Sheikh Khalifa bin Zayed Al Nahyan has issued a law amending some provisions of the real estate law in Abu Dhabi.  The new amended law allows UAE citizens, including natural or legal …
Real estate
CEO of Talaat Moustafa Group Holding, Hisham Talat Moustafa
17 April 05:58 PM Talaat Moustafa: No slowdown in Egypt’s property market
Cairo – Mubasher: The CEO and managing director of Talaat Moustafa Group Holding, Hisham Talat Moustafa, said that the real estate market in Egypt is not witnessing a slowdown in the current time. Talaat Moustafa Group has launched various real …
Real estate
Lea offered land plots starting at AED 990,000
17 April 03:45 PM Aldar’s latest project LEA nets over AED 400m sales at Cityscape 2019
Abu Dhabi – Mubasher: Aldar Properties on Wednesday announced that it sold out its latest development, Lea, on the northern shores of Yas Island during Cityscape Abu Dhabi, bringing in AED 400 million ($108.9 million) in sales, according to a …
Real estate
Construction progress in Bloom Heights reached 30%
17 April 12:53 PM Bloom Holding to complete 2 Dubai projects by mid-2020
UAE – Mubasher: Bloom Holding is expected to complete Bloom Heights and Bloom Towers in Dubai by mid-2020, Al Bayan newspaper reported, citing the company’s CEO, Sameh Muhtadi, as saying. Construction progress in Bloom Heights and Bloom Towers …
Real estate
The UAE has the highest return on real estate investment
17 April 12:08 PM Azizi Developments to deliver 3,500 units in 2019 – CEO
UAE – Mubasher: Azizi Developments plans to deliver 3,500 units of its projects in 2019, Alkhaleej newspaper reported, citing the CEO of the UAE-based real estate firm as saying. The real estate developer has about 190 projects in the pipeline in …
Real estate
The company would finance these projects through its resources
16 April 10:09 PM El-Attal Holding to launch EGP 11bn housing projects in 3 yrs – Chairman
By: Abdullah Bedeir Cairo – Mubasher: El-Attal Holding is planning to invest EGP 11 billion in three residential projects within the coming three years in the New Administrative Capital (NAC), New El Alamein, and Ain Sokhna, the company’s chairman …
Companies Investments
Muntazahat posted a decline of 32.1% in FY18 profits
16 April 05:33 PM Kuwait Resorts to pay 5% bonus shares for FY18
Mubasher: The ordinary general meeting (OGM) of Kuwait Resorts (Muntazahat) has approved the board’s recommendation of distributing 5% of the capital as bonus shares for fiscal year 2018. Muntazahat will distribute 5-for-100 shares to the entitles …
Board of Directors
Cityscape 2019 kicked off on Tuesday, 16 April
16 April 05:16 PM ADCP inks MoA with Social Care & Minors Affairs Foundation
UAE – Mubasher: Abu Dhabi Commercial Properties (ADCP) on Tuesday announced that it has signed a memorandum of agreement (MoA) with Social Care & Minors Affairs Foundation on the sidelines of Cityscape Abu Dhabi 2019. The deal was signed at stand …
Real estate
Occupancy levels in the residential and retail sectors remained largely unchanged in Q1-19
16 April 01:16 PM Gov't initiatives to boost Abu Dhabi real estat market - JLL
UAE – Mubasher: Abu Dhabi’s real estate market saw subdued conditions and relatively unchanged performance across most sectors during the first three months of 2019, JLL said in a report released on Tuesday at Cityscape Abu Dhabi 2019.     The GCC …
Sector Reports
NREC’s net debt to equity decreased from 0.8 to 0.5
16 April 12:46 PM NREC to distribute 10% bonus shares for FY18, elects board
Mubasher: The ordinary general meeting (OGM) of the National Real Estate Company (NREC) approved to distribute 10% of the capital as bonus shares for the fiscal year ended on 31 December 2018. The Boursa Kuwait-listed company on Tuesday, 16 April, …
Board of Directors