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30 January 01:22 PM Orascom Development Egypt witnesses highest sales in 2022 unaudited results
Cairo – Mubasher: Orascom Development Egypt (ODE) reported an annual hike of 20.70% in net sales to EGP 11.10 billion in 2022, according to the preliminary unaudited key performance indicators (KPIs). During the fourth quarter (Q4) of 2022, the …
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24 January 01:35 PM Orascom Construction to distribute interim dividend of $0.18/shr
Cairo – Mubasher: The board of Orascom Construction Plc approved an interim dividend of USD 0.18 per share to the company’s shareholders for fiscal year (FY) ended on 31 December 2021, according to an official statement on Tuesday. The company …
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23 January 02:13 PM Palm Hills proposes capital cut; approves EGP 150m deal with Incolease
Cairo – Mubasher: Palm Hills Developments’ board approved unanimously submitting a proposal to the extraordinary general meeting (EGM) for an EGP 120 million issued and paid-up capital cut through the cancellation of 60 million treasury stocks at …
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23 January 11:06 AM SODIC’s unit inks EGP 2.75bn facility with AAIB
Cairo – Mubasher: Al Yosr for Projects and Real Estate Development, a fully-owned subsidiary of Six of October Development and Investment (SODIC), signed a medium-term facility of EGP 2.75 billion with the Arab African International Bank (AAIB). …
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22 January 10:39 AM Giza Contracting wins project in New Sohag City
Cairo - Mubasher: Giza General Contracting and Real Estate Investment Company has been awarded a new project with a total value of EGP 97.63 million. The company will implement facility works in the Universities Area in New Sohag City, according …
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22 January 10:17 AM Magnom Properties, Forbes to build Forbes International Tower in Egypt’s new capital
Cairo – Mubasher: Magnom Properties and Forbes announced their plans to build an innovative, environmentally responsive tower set in the heart of the rising New Administrative Capital (NAC) in Egypt. The partnership, which marks the first time …
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17 January 12:09 PM Egyptians for Housing to exit Odin Capital Group
Cairo – Mubasher: Egyptians for Housing and Development Company approved unanimously selling its entire stake of 284.47 million shares in Odin Capital Group for Financial Investments. The decision was made by the real estate developer’s ordinary …
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17 January 10:20 AM Tatweer Misr records EGP 8.1bn contractual sales in 2022
Cairo – Mubasher: Tatweer Misr has generated contractual sales worth EGP 8.10 billion during 2022 for 1,650 residential units. The real estate developer delivered 1,100 residential units in two projects in Galala City and North Coast. It added …
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16 January 03:31 PM Inertia Egypt secures EGP 850m bridge loan from 2 banks
Cairo – Mubasher: Inertia Egypt announced signing a bridge loan contract worth EGP 850 million with Banque Misr and Banque Du Caire to finance the company’s main project in North Coast, extending over 5.80 million square metres. Inertia Egypt CEO …
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15 January 02:35 PM Nile Property Expo to launch in London, US in 2023
Cairo – Mubasher: The Nile Property Expo intends to enter new markets for the first time in 2023 such as London and New Jersey in the US.  The announcement was made by Basem Kalila, Chairman of the Board of Directors of Expo Republic, the company …
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15 January 01:13 PM ERG Developments eyes expansion in 2023
Cairo – Mubasher: ERG Developments plans to expand in new projects in East Cairo and the New Administrative Capital (NAC) during the current year. During a recent press conference, the company said it is currently studying a 100-acre land plot in …
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15 January 11:53 AM Egyptians for Housing denies rumours about acquisition offer by Saudi firm
Cairo – Mubasher: Egyptians for Housing and Development Company has denied rumours about an acquisition offer by a Saudi Arabian firm on 25% of the company’s shares.  The EGX-listed company stressed it will announce any acquisition offers it …
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9 January 03:31 PM London's Chestertons launches in Egypt
Cairo – Mubasher: Chestertons International, one of the world's leading property consultancies, announced its affiliation agreement with one of the leading Egyptian real estate consultancies, Gemini for Real Estate Brokerage. Besides launching …
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4 January 03:29 PM Thousands of state employees to move to new capital by March
Cairo – Mubasher: Around 30,000 public employees will be gradually relocated to the New Administrative Capital (NAC) by the beginning of March 2023, said Khaled Abbas, Managing Director and Board Chairman of the Administrative Capital for Urban …
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3 January 09:31 AM EFG Hermes, Misr Italia Properties announce 2nd securitisation issue worth EGP 986m
Cairo - Mubasher: EFG Hermes and Misr Italia Properties announced the successful conclusion of the latter’s second securitised bond issuance worth EGP 986 million, which comes as part of a wider EGP 2.50 billion securitisation programme. The bond …
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2 January 11:51 AM Talaat Moustafa Group's sales cross EGP 33bn in FY22
Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) announced achieving unprecedented new net sales of EGP 33.20 billion during fiscal year (FY) 2022, beating its own market sales record of 2021 and crossing the upper limit of its annual …
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26 December 2022 11:24 AM Waha Investment cuts stake in CIRA for EGP 170.7m
Cairo – Mubasher: Waha Investment Management Company has lowered its stake in Cairo for Investment and Real Estate Development (CIRA) to 2.81% from 5.03% for a total value of EGP 170.71 million. Waha Investment has sold 12.93 million shares in …
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25 December 2022 01:31 PM United Housing receives EGP 318m via finance lease mechanism
Cairo – Mubasher: United Company for Housing and Development has implemented the finance lease contract with Corporate Leasing Company Egypt (CORPLEASE). Under this contract, United Housing obtained EGP 318 million through the finance lease …
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22 December 2022 01:25 PM Wadi Degla Developments to invest EGP 2bn next year
By: Abdullah Bedair Cairo – Mubasher: Raymond Ahdy, the Deputy CEO of Wadi Degla Developments, said his company plans to invest EGP 2 billion during 2023, compared to EGP 1 billion this year. Total investments of the real estate developer in the …
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20 December 2022 01:58 PM Three Egyptian state-run institutions, Allianz launch real estate fund
Cairo – Mubasher: Banque Misr, in partnership with Banque du Caire, Misr Insurance Holding Company (MIHC), and Allianz, launched a real estate investment fund with a target capital of EGP 500 million. The fund, named Misr Real Estate Investment 1, …
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7 December 2022 11:22 AM Shareholder buys over 265K shares in Arab for Development
Cairo – Mubasher: Shareholder Omar Abdel Aziz Attia Baraka has increased his ownership in Arab for Development and Real Estate Investment (ADRI) to 10.09% from 9.64% for a value totalling EGP 408,437. The shareholder bought 265,188 shares in Arab …
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7 December 2022 11:00 AM Urbnlanes plans to raise investments in Egypt to EGP 24bn
Cairo – Mubasher: Urbnlanes Development, a subsidiary of Emeel Abdalla Investments, plans to increase its investments in Egypt to EGP 24 billion during 2023. So far, Urbnlanes’ investments in Egypt amount to EGP 11 billion distributed on 3 …
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6 December 2022 10:44 AM The Land Developers targets EGP 500m investment in Red Sea project
By: Abdullah Bedair Cairo - Mubasher: The Land Developers (TLD) plans to invest EGP 500 million in a residential project in Red Sea Governorate’s Sahl Hasheesh. The project spans 10.70 feddans (45,000 square metres) and includes 85 villas and 60 …
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5 December 2022 04:32 PM Alinma Investment reduces stake in El-Ebour for Real Estate
Cairo - Mubasher: Alinma Investment Co has cut its stake in El-Ebour Co. for Real Estate Investment to 9.30% from 10.27% for a total value of EGP 1.59 million. Alinma has sold 169,599 shares in El-Ebour Real Estate at a share price averaging EGP …
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5 December 2022 11:00 AM Marseilia’s shareholders approve stock split
Cairo - Mubasher: The extraordinary general meeting (EGM) of Marseilia Almasreia Alkhalegeya Real Estate Investment unanimously approved splitting the share’s nominal value to EGP 0.50 from EGP 1 during a meeting on 4 December 2022. This brings …