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18 January 11:14 AM

Real Estate

The winning bidder will acquire a 10% stake in the company
15 January 11:16 AM Heliopolis Housing extends deadline for bid submissions
Cairo – Mubasher: Heliopolis Company for Housing and Development (HHD) announced extending the deadline for submitting bids to acquire a 10% stake in the company with management rights to 21 February. Any other developments regarding this matter …
Event
“5A” features built-up areas spanning over 35,000 square metres
14 January 04:18 PM The Waterway launches EGP 4bn ‘5A’ business area in New Cairo
Cairo – Mubasher: The Waterway has launched ‘5A’ integrated business area, comprising administrative, commercial, and entertainment services, in Cairo’s Tagamou El-Khames with investments totalling EGP 4 billion. Spanning over 35,000 square …
Companies Investments
The company plans to invest a total of EGP 308.99 million in 2020
13 January 01:48 PM Al Shams Housing targets EGP 187m profit in 2020
Cairo – Mubasher: The board of Al Shams Housing and Urbanization has approved the company’s budget plan for 2020. The company seeks to achieve profits of EGP 187.45 million in 2020, up from a target of about EGP 150.36 million for the fiscal …
Financial Results
Amer Group's net profits reached EGP 39.3 million in nine months
12 January 05:01 PM Amer Group denies issuing EGP 500m bonds
Cairo – Mubasher: Amer Group Holding Co denied news reports regarding the issuance of bonds worth EGP 500 million to provide liquidity. News stating that the real estate developer considers issuing bonds worth EGP 500 million to provide liquidity …
Real estate
Housing minister, Assem El Gazzar
9 January 04:23 PM Egypt’s NUCA plans to pump EGP 44bn investments in 6M
Cairo – Mubasher: Egypt’s New Urban Communities Authority (NUCA) has spent EGP 33 billion on different projects during the last six months including developments in new cities and slums, along with road projects. Egyptian housing ministry is …
Macroeconomics
MNHD is developing over 10,000 real estate units at the moment
9 January 01:42 PM MNHD logs EGP 6.3bn contractual sales in 2019
Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) reported contracts and sales bookings worth EGP 6.3 billion during 2019, higher by 15% when compared to EGP 5.49 billion in 2018. This rise is attributed to the demand for the company’s …
Financial Results
Talaat Moustafa maintains the “Optimistic” outlook for 2020
5 January 05:47 PM Talaat Moustafa logs EGP 20.4bn sales in 2019, maintains 2020 outlook
Cairo – Mubasher: Talaat Moustafa Group Holding has achieved property sales of EGP 20.4 billion during 2019 when compared to EGP 21.3 billion in 2018. The sales included EGP 5.4 billion worth of income from non-residential units which recorded a …
Zahraa Maadi agreed to buy the land for a total value of EGP 481.36 million
2 January 12:22 PM Zahraa Maadi pays EGP 72m in advance for land in New Heliopolis
Cairo – Mubasher: Zahraa Maadi Investment and Development has agreed to make an advance payment of EGP 72 million to purchase a land plot from Heliopolis Company for Housing and Development. The down payment represents 15% of the value of the …
Real estate
The southern ring road of 22 kilometres long has four lanes
31 December 2019 05:35 PM Egypt to execute new roads at EGP 5.37bn in Sixth of October
Cairo – Mubasher: New Roads with a total length of 93 kilometres will be established in the 6th of October city at a cost of EGP 5.37 billion, including 18 industrial works and nine pedestrian bridges, Egypt's minister of housing, Assem El-Gazzar, …
Macroeconomics
The company is currently conducting a study to develop the Island
31 December 2019 03:15 PM Orascom Development Egypt retakes possession of Amoun Island
Cairo – Mubasher: Orascom Development Egypt announced that it has retaken possession of Amoun Island in Aswan in cooperation with the Egyptian General Company for Tourism and Hotels (EGOTH). The company is currently conducting a study to develop …
Real estate
A total 25 roads have been built at a cost of EGP 8 billion
31 December 2019 00:40 PM Egypt sees major housing, public utility projects in 2019
Cairo – Mubasher: Egypt has witnessed several achievements in public utilities and housing sectors during 2019. Roads At a cost of EGP 8 billion, 25 roads with a combined length of 732 kilometres have been built during the year, according to a …
Real estate
National Housing logged a net profit of EGP 967,188 in Q1-19
29 December 2019 02:11 PM National Housing approves EGP 605m offer to sell Le Méridien Heliopolis
Cairo – Mubasher: The National Company for Housing for Professional Syndicates announced that its extraordinary general meeting (EGM) approved an offer submitted by IMEX International to the National Bank of Egypt (NBE) to purchase Le Méridien …
Real estate
Six unplanned areas are set to be developed
29 December 2019 01:24 PM Egypt to invest EGP 200m in developing South Sinai slums
Cairo – Mubasher: A number of unplanned areas in the Egyptian govenorate of South Sinai are set to be developed at a total estimated cost of EGP 200 million, the Informal Settlements Development Fund’s (ISDF) executive director Khaled Seddiq said. …
Real estate
The project is SODIC’s first non-residential project in East Cairo
29 December 2019 00:44 PM SODIC’s unit inks EGP 1bn funding deal with CIB
Cairo – Mubasher: Six of October Development and Investment (SODIC) announced that its subsidiary SOREAL has signed a medium-term credit facility agreement with the Commercial International Bank – Egypt (CIB). The EGP 1 billion funding will be …
Banking and Finance
The company’s authorised capital will be increased to EGP 1.5 billion
26 December 2019 11:52 AM Heliopolis Housing’s shareholders approve cash dividends, bonus issue
Cairo – Mubasher: Heliopolis Company for Housing and Development announced that its ordinary general meeting (OGM) approved a cash dividend distribution of EGP 44.5 million. The first dividend distribution amounts to EGP 5 million, while the …
General Assembly
A total of 53 slums were developed in FY18/19
25 December 2019 03:21 PM Investments in Decent Life Phase I hit EGP 944m in FY18/19
Cairo – Mubasher: Egypt injected EGP 944 million into the first phase of “Hayat Karima” (A Decent Life) initiative during fiscal year 2018/2019, assistant minister of planning Gamil Helmy said. A total of 53 slums, accommodating about 171,000 …
Real estate
SODIC launched the first phase of the 500-feddan “VYE” project
25 December 2019 01:23 PM SODIC, NUCA sign escrow agreement with Banque Misr
Cairo – Mubasher: Six of October Development and Investment (SODIC) and the New Urban Communities Authority (NUCA) signed an escrow agreement with Banque Misr over a 500-feddan project in New Sheikh Zayed City. The new contract is the beginning …
Banking and Finance
The Pearl Mall will be established over an area of around 3,000 sqm
24 December 2019 04:37 PM Dolmen Developments plans to invest EGP 1bn in New Administrative Capital
By: Abdullah Bedeir Cairo – Mubasher: Dolmen Developments is looking to build three administrative-commercial projects with total investments of more than EGP 1 billion in the New Administrative Capital. The real estate developer has obtained …
Companies Investments
The new section features various buildings
24 December 2019 04:16 PM Bayut offers new guides for popular towers across the UAE
UAE - Mubasher: Dubai-based property website Bayut has launched a new section for Building Guides including full details about the property types, amenities available, service charges, and the average cost for renting and buying in popular towers …
Real estate
VYE project with all its phases is likely to generate sales of EGP 43 billion
23 December 2019 11:12 AM SODIC’s VYE Phase I generates EGP 1bn sales in 2 days
Cairo – Mubasher: Six of October Development and Investment (SODIC) has offered the first phase of the 500-feddan “VYE” project in New Sheikh Zayed City for sale. Sales in the first phase have registered EGP 1 billion in just two days, the company …
Companies Investments
City Edge Developments is 60% owned by the New Urban Communities Authority
19 December 2019 05:07 PM City Edge Developments inks MoUs on services in New Alamein City
Cairo – Mubasher: City Edge Developments signed three memorandums of understanding (MoU) with Contrack Watts, a subsidiary of Orascom Construction; French multinational electric utility company ENGIE; Majid Al Futtaim; and The Village Beirut. The …
Real estate
The EGP 305 million bond includes three tranches
19 December 2019 00:28 PM MNHD closes 1st securitised bond with CIB, EFG Hermes
Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) announced the completion of the first securitisation bond, backed by MNHD’s receivables portfolio of EGP 370 million. The issuance is in line with the real estate developer’s strategy …
Companies Investments
The facility will be used to repay a syndicated loan
18 December 2019 11:50 AM Palm Hills approves EGP 1.1bn facility from CIB
Cairo – Mubasher: The board of directors of Palm Hills Development Co approved the offer presented by the Commercial International Bank – Egypt (CIB) for a medium-term facility worth EGP 1.099 billion. The facility will be used to repay a …
Real estate
El Saf Investment Zone in Egypt
17 December 2019 04:47 PM Egypt offers 225 projects in El Saf Investment Zone
Cairo – Mubasher: The Egyptian Ministry of Investment and International Cooperation as well as the General Authority for Investments (GAFI) announced the establishment and offering of 225 projects in El Saf Investment Zone. The sizes of the …
The project is situated over 77 feddans
17 December 2019 04:13 PM Porto Group launches EGP 4.5bn residential project in West Assiut
By: Abdullah Bedeir Cairo – Mubasher: Porto Group Holding has launched Porto Assiut in Nasser City, located in West Assiut, with total investments of EGP 4.5 billion. Situated over 77 feddans (about 324,000 square metres), the project is expected …
Real estate