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21 February 04:07 PM DAL Developments to open 1st project in Egypt early March
Cairo – Mubsher: DAL Developments, the real estate arm of Daltex Corporation, plans to launch its first project in Egypt in Sheikh Zayed City in early March 2024 with a total building area of 20,000 square meters. The Five-Fifty-Five project is …
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21 February 09:50 AM Saudi-Egyptian alliance inks development agreement for $1bn projects
Mubasher: The Egyptian government, represented by the Arab Organization for Industrialization (AOI), signed a memorandum of understanding (MoU) with a Saudi-Egyptian alliance. The alliance is represented by the companies Alupco, Olayan Group, Okta …
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19 February 03:48 PM Emaar Alex, SIA Business Development ink EGP 4bn agreement for La Baia project
Cairo – Mubasher: Emaar Alex Developments penned an EGP 4 billion agreement with SIA Business Development for the sale and marketing of the La Baia Sidi Abdel Rahman project. The agreement aims to boost the two companies’ presence in the Egyptian …
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14 February 10:47 AM Orascom Development Egypt’s sales leap to EGP 19.5bn in 2023
Cairo – Mubasher: Orascom Development Egypt (ODE) surpassed all its previous records in real estate sales to reach EGP 19.50 billion in 2023, marking an annual surge of 74.90% from EGP 11.10 billion. The EGX-listed firm highlighted that …
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7 February 11:49 AM SODIC posts 164% higher consolidated profits in 2023
Cairo – Mubasher: Six of October Development and Investment (SODIC) registered net profits after tax and non-controlling interest valued at EGP 1.37 billion in 2023, an annual leap of 164% from EGP 520.05 million. Total revenues amounted to EGP …
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1 February 10:23 AM El Ebour Real Estate plans to create unit in UAE
Cairo - Mubasher: The board members of El Ebour Real Estate Investment approved, on 30 January 2024, establishing a new subsidiary in the UAE. The EGX-listed firm highlighted that it has been taking the required procedures implemented in the UAE, …
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29 January 03:52 PM Madinet Masr’s contractual sales jump to EGP 34.9bn in 2023
Cairo – Mubasher: Madinet Masr Housing and Development recorded an increase in total contractual sales to EGP 34.95 billion as of 31 December 2023, versus EGP 11.20 billion in 2022. This positive performance is backed by the company’s expansion …
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23 January 11:44 AM Heliopolis Company eyes EGP 39.7bn returns from new development project
Cairo – Mubasher: Heliopolis Company for Housing and Development signed a participation contract to develop 865 acres under deficit and excess in New Heliopolis City. The EGX-listed firm penned the deal with the Middle East Real Estate and Tourism …
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26 December 2023 04:37 PM Madinet Masr unveils 73 partnerships at EGP 7bn monetary value
Cairo – Mubasher: Madinet Masr Housing and Development announced strategic partnerships with 73 companies at a total monetary value of EGP 7 billion in 2023, according to a press release. The total amount is divided into EGP 5.30 billion for …
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30 November 2023 04:32 PM Madinet Masr unveils EGP 1.7bn investment
Cairo – Mubasher: Madinet Masr Housing and Development extended its memorandum of understanding (MoU), which was signed in 2022 with El Hazek Construction at a value of EGP 1.5 billion, to reach EGP 1.70 billion. The listed firm plans to establish …
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30 November 2023 11:19 AM Orascom Construction’s 9M-23 consolidated profit leap 98.6%; backlog hit $7bn
Cairo – Mubasher: The consolidated net profits attributable to shareholders of Orascom Construction hit $114.80 million in the first nine months (9M) of 2023, an annual hike of 98.60% from $57.80 million. Revenues amounted to $2.36 billion in …
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22 November 2023 11:32 AM Pioneers Properties logs higher consolidated profits in 9M-23; contracted sales exceed EGP 14bn
Cairo – Mubasher: Pioneers Properties for Urban Development achieved EGP 238.35 million in consolidated net profit after tax during the first nine months (9M) of 2023. The recorded net profits were higher year-on-year (YoY) than EGP 159.84 …
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19 November 2023 02:24 PM Palm Hills logs higher consolidated profits at EGP 1.12bn in 9M-23
Cairo – Mubasher: Palm Hills Developments Company witnessed higher consolidated net profits after tax at EGP 1.12 billion in the first nine months (9M) of 2023. The 9M-23 net profits were compared with EGP 910.86 million in 9M-22, including …
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19 November 2023 11:37 AM TMG reports EGP 19.14bn real estate sales in 9M-23; profits jump 34%
Cairo – Mubasher: The consolidated net profits after tax and non-controlling interest of Talaat Moustafa Group Holding Company (TMG Holding) reached EGP 2.68 billion in the first nine months (9M) of 2023. The recorded net profits hiked by 34% …
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16 November 2023 04:32 PM Emaar Misr achieves EGP 4.98bn consolidated profits in 9M-23
Cairo – Mubasher: The consolidated net profits after tax of Emaar Misr for Development increased year-on-year (YoY) to EGP 4.98 billion in the first nine months (9M) of 2023 from EGP 4.89 billion. The company posted revenues amounting to EGP 10.58 …
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16 November 2023 03:35 PM Arab Developers delivers growth in 9M-23 financials
Cairo – Mubasher: Arab Developers Holding recorded an annual hike in consolidated net profit after tax to EGP 89.53 million during the first nine months (9M) of 2023, versus EGP 18.51 million. Revenues increased to EGP 872.41 million in 9M-23 from …
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14 November 2023 11:13 AM Orascom Development Egypt’s 9M-23 profits jump 33%; new sales cross EGP 13bn
Cairo – Mubasher: Orascom Development Egypt (ODE) logged net profits valued at EGP 2.03 billion in the first nine months (9M) of 2023, an annual leap of 32.90% from EGP 1.53 billion. The company registered higher profits despite being affected by …
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12 November 2023 04:39 PM Madinet Masr registers EGP 1.35bn consolidated profits in 9M-23
Cairo – Mubasher: Madinet Masr Housing and Development generated EGP 1.35 billion in consolidated net profit after tax and non-controlling interest during the first nine months (9M) of 2023, a hike of 153.12% from EGP 534.20 million a year …
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30 October 2023 02:37 PM SODIC delivers positive performance in 9M-23; gross contracted sales hit EGP 19.8bn
Cairo – Mubasher: The consolidated net profits attributable to the shareholders of the Six of October Development and Investment (SODIC) hit EGP 547.57 million in the first nine months (9M) of 2023. The generated net profits were up year-on-year …
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12 October 2023 02:51 PM EGX-listed Madinet Masr comments on Saudi PIF acquisition news
Cairo – Mubasher: Madinet Masr for Housing and Development Company stated that its management did not receive any letters regarding an acquisition by the Saudi sovereign fund, according to a bourse filing. The Egyptian Exchange (EGX) listed …
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12 October 2023 11:53 AM Egypt, Saudi Arabia, UAE, dominate MENA’s $3trn construction projects – JLL
Mubasher: The aggregated estimated value of the construction development pipeline in the MENA region has surpassed $3 trillion with Egypt, Saudi Arabia, and the UAE acquiring more than 60% of it, according to JLL’s Construction Market Intelligence …
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10 October 2023 09:12 AM Heliopolis Company unveils EGP 15bn sale deal
Cairo – Mubasher: The ordinary general meeting (OGM) of Heliopolis Company for Housing and Development greenlighted the sale of Heliopark land at a value of EGP 15 billion. The cash amount will be paid in one payment upon contracting, deducing EGP …
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5 October 2023 01:55 PM Madinet Masr eyes EGP 20bn sales in 2023
Cairo – Mubasher: Madinet Masr Housing and Development has achieved an increase in its contracted sales during the third quarter (Q3) of 2023, surpassing the total sales of any previous year since the company’s establishment. The EGX-listed firm …
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3 October 2023 03:27 PM Palm Hills unveils development project with EGP 85bn estimated sales
Cairo – Mubasher: Palm Hills Developments Company acquired 374 feddan from the New Urban Communities Authority (NUCA) adjacent to the company’s flagship district Palm Hills October, according to a bourse disclosure. The development project will …
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3 October 2023 10:41 AM Golden Pyramids Plaza records $12m standalone profits in H1-23
Cairo – Mubasher: Golden Pyramids Plaza recorded a year-on-year (YoY) drop in standalone net profit to $12.04 million during the first half (H1) of 2023, compared to $31.79 million. The EGX-listed firm posted revenues amounting to $45.77 billion …