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28 November 06:34 PM Nexus endorses UAE economy through launch of Nexus Mortgage Brokers
UAE – Mubasher: The GCC-based financial advisor Nexus Group has launched a fully licensed mortgage entity, dubbed Nexus Mortgage Brokers, to enhance Nexus’s core insurance and financial advisory business. The new financial arm aims to capitalise …
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28 November 10:06 AM Maple Invest acquires 15.6% of Damac's share capital
Dubai – Mubasher: Maple Invest Co has acquired 15.6% of the issued and paid-up share capital in Damac Properties during the offer period by purchasing 943.9 million shares in Damac at a price of AED 1.4 per share. Damac has received from Maple …
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25 November 11:15 AM Dubai’s real estate sales transactions exceed AED13bn in October
UAE – Mubasher: Dubai has recorded 5,352 real estate sales transactions valued at AED 13.12 billion in October 2021, marking the highest October on record for eight years, the Dubai media office reported. These figures were published in the 20th …
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24 November 11:23 AM ENBD REIT records $164m net asset value in H1
UAE – Mubasher: ENBD REIT, a real estate investment trust managed by Emirates NBD Asset Management Limited, has recorded $164 million net asset value (NAV) as of 30 September 2021, down from $180 million at the year ended 31 March 2021. The …
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22 November 09:37 AM Union Properties records lower profits in 9M
Dubai – Mubasher: Union Properties reported a decline in net profits to AED 1.369 million during the first nine months of 2021, compared to AED 348.779 million in the year-ago period, according to the company's unaudited consolidated financials …
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21 November 12:59 PM Heliopolis Housing’s shareholders approve FY20/21 dividends
Cairo – Mubasher: The shareholders of Heliopolis Company for Housing and Development gave the green light for distributing a cash dividend of EGP 0.10 per share for fiscal year (FY) 2020/2021. The real estate developer will pay the dividend amount …
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18 November 03:16 PM Coldwell Banker targets EGP 20bn third-party contractual sales in 2023
By: Abdullah Bedeir Cairo – Mubasher: Coldwell Banker Egypt plans to achieve EGP 20 billion worth of third-party contractual sales during 2023, CEO, Karim Zain, told Mubasher. The real estate firm intends to exceed EGP 10 billion in third-party …
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15 November 01:48 PM Hassan Allam’s subsidiary to develop Tagali Al Aazam site
Cairo – Mubasher: Hassan Allam Construction (HAC), a subsidiary of Hassan Allam Holding, has been awarded a project in Saint Catherine city in South Sinai to develop the Tagali Al Aazam site, according to an official announcement on Monday. HAC …
The revenues surged to EGP 1.01 billion in the January-September period
14 November 05:56 PM Porto Group Holding turns profitable in nine months
Cairo – Mubasher: Porto Group Holding turned to consolidated net profits of EGP 90.97 million in the first nine months of 2021, versus net losses of EGP 8.62 million in the corresponding period a year earlier, including minority shareholders' …
The project includes a total of 108 diverse units with various areas
14 November 05:28 PM Golden House launches EGP 600m project in New Cairo
Cairo – Mubasher: Golden House Real Estate Investment Company has launched the Rio Complex project in New Cairo, with a medical-administrative activity at an investment cost of EGP 600 million. Built on an area of 1,600 square metres (sqm), the …
The company's revenues hiked by 63%
14 November 04:19 PM Emaar Development's profits surge 75% in 9M
Dubai – Mubasher: The net profits attributable to the owners of Emaar Development climbed by 75% to AED 2.383 billion during the first nine months of 2021 from AED 1.358 billion in the same period of 2020, according to the company's unaudited …
Madaar plans to launch the Azha project in Ain Sokhna with investments of EGP 15 billion
14 November 03:55 PM Madaar Development targets EGP 22bn investments in Egypt
By: Abdullah Bedeir  Cairo – Mubasher: Madaar Development Company plans to invest EGP 22 billion in three or four projects in the coming period, CEO Gasser Bahgat revealed.  During a press conference, the CEO noted that the company will launch a …
The company generated revenues of AED 19.331 billion
14 November 03:55 PM Emaar Properties' net profits rise 25% in 9M
Dubai – Mubasher: The unaudited interim consolidated financials of Emaar Properties recorded a 25% year-on-year (YoY) increase in net profits attributable to the owners to AED 2.577 billion in the January-September period of 2021, compared to …
The revenues hiked to EGP 1.62 billion in the January-September period
14 November 02:05 PM Amer Group's profit skyrockets 1,783% in nine months
Cairo – Mubasher: Amer Group Holding Co reported consolidated net profits of EGP 187.92 million in the first nine months of 2021, a leap of 1,783% year-on-year (YoY) from EGP 9.98 million, including minority shareholders' rights.  The company …
El-Mikawi was the Managing Director of Al Futtaim Group Real Estate
14 November 11:30 AM El-Mikawi named Chairman of Amer Group
Cairo – Mubasher: The board of directors of Amer Group Holding Co approved the resignation of Mansour Amer from his position as the Non-Executive Chairman.  The board also decided to appoint Mohamed El-Mikawi as the new Non-Executive Chairman, …
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11 November 05:44 PM Al Akaria incurs higher net losses in Q3, 9M
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) suffered net losses after Zakat and tax worth SAR 23.9 million during the third quarter (Q3) of 2021, widening by 198.7% year-on-year (YoY) from SAR 8 million. Sales increased by 6.6% to SAR …
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11 November 01:26 PM Jabal Omar incurs losses in Q3, 9M
Riyadh – Mubasher: Jabal Omar Development Company logged net losses after Zakat and tax worth SAR 270.04 million during the third quarter (Q3) of 2021, an increase of 13.9% from SAR 236.95 million in Q3-20. Sales meanwhile jumped by 2,134% to SAR …
The green housing units are set to be established in five new cities
10 November 04:33 PM Social Housing Fund aims to build 25k green housing units by end-2023
Cairo – Mubasher: The Social Housing and Mortgage Finance Fund (SHMFF) aims to build 25,000 green housing units in five new cities by the end of 2023, the fund's Executive Director, Mai Abdel Hamid, said.  The green housing units are set to be …
The completed property sales accounted for AED 20.63 billion of the total value
10 November 04:21 PM Dubai's residential transactions hit AED 34.11bn in Q3-21
UAE – Mubasher: The total value of residential transactions in Dubai rose by 10% quarter-on-quarter (QoQ) to AED 34.11 billion during the third quarter (Q3) of 2021 from AED 31.02 billion in the second quarter (Q2) of 2020. The findings have …
The revenues increased to AED 3.191 billion
8 November 04:09 PM Emaar Malls reports 83% profit leap in nine months
Dubai – Mubasher: Emaar Malls achieved net profits of AED 1.070 billion during the first nine months of 2021, up by 83% year-on-year (YoY) from AED 586 million.  The revenues increased to AED 3.191 billion in the January-September period of 2021, …
The property developer achieved sales of SAR 158.34 million
7 November 05:11 PM Alandalus Property's 9M profit hikes 547%
Riyadh – Mubasher: Alandalus Property Company recorded a surge of 547% in net profits after Zakat and tax to SAR 57.55 million in the first nine months of 2021, compared to SAR 8.89 million in the year-ago period.  Earnings per share amounted to …
The company's revenues increased to AED 591.16 million
3 November 04:37 PM Arkan's net losses deepen in 9M
Abu Dhabi - Mubasher: Arkan Building Materials Company recorded net losses of AED 29.19 million during the first nine months of 2021, up from AED 3.71 million in the year-ago period. The company's revenues increased to AED 591.16 million in the …
The company generated revenues of AED 6.32 billion
3 November 09:44 AM Aldar sees 28% rise in net profits in 9M
Abu Dhabi – Mubasher: The net profits attributable to the owners of Aldar Properties increased by 28% year-on-year (YoY) to AED 1.536 billion during the Janaury-September period of 2021 from AED 1.209 billion, as shown by the company's interim …
The value of the transaction amounts to KWD 2.1 million
2 November 05:16 PM Al Arabiya Real Estate to sell entire stake in Egypt's Sharm Dreams
Mubasher: Al Arabiya Real Estate, listed on Boursa Kuwait, has reached an agreement to sell its entire stake in Egypt's Sharm Dreams for Real Estate Development Co, amounting to 5.47 million shares, for KWD 2.1 million (EGP 110 million).  A total …
The revenues soared to EGP 7.62 billion
2 November 11:04 AM Emaar Misr for Development's 9M profit surges 138%
Cairo – Mubasher: Emaar Misr for Development reported consolidated net profits of EGP 2.81 billion in the first nine months of 2021, up by 138% year-on-year (YoY) from EGP 1.183 billion, including minority shareholders' rights.  The revenues …