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City Edge is developing several projects in Sheikh Zayed, New Alamein, and New Mansoura
12 August 03:59 PM City Edge, Suez Canal Bank sign mortgage funding protocol
Cairo – Mubasher: City Edge Developments signed a protocol of cooperation with Suez Canal Bank as part of the Central Bank of Egypt (CBE) initiative for providing various mortgage financing plans. The first plan includes a mortgage finance for …
The company’s revenues slid to EGP 1.07 billion
12 August 11:14 AM SODIC’s profit sinks 80% in H1-20
Cairo – Mubasher: Six of October Development and Investment (SODIC) reported an 80% year-on-year (YoY) drop in its net profits to EGP 69.3 million in the first half (H1) of 2020 from EGP 337.9 million. The company’s revenues slid to EGP 1.07 …
Amer Group Holding reported net profits of EGP 27.608 million in six months
10 August 11:46 AM Amer Group reveals developments on New Minya land allocation
Cairo – Mubasher: The New Minya City Authority approved a change to the land allocation request submitted by Amer Group Holding Co’s 60%-owned subsidiary Amer Tourism Development. Amer Tourism Development obtained an approval to change the area of …
El-Gouna - Orascom Development’s flagship town
6 August 10:58 AM Orascom Development Egypt sells land in El-Gouna for EGP 105m
Cairo – Mubasher: Orascom Development Egypt (ODE) signed a land sale agreement with Mangroovy for Hotels. Under the deal, Mangroovy for Hotels will purchase a land plot in El-Gouna over an area of 40,654 square metres for EGP 104.8 million ($6.6 …
Orascom was eyeing a stake in Bawabet Al Sharq Al Qahira Al Guedida
5 August 12:30 PM Orascom Investment announces end of talks with Qatari Diar
Cairo – Mubasher: Orascom Investment Holding (OIH) announced the end of negotiations with Qatari Diar Real Estate Investment Company and Bawabet Al Sharq Misr For Real Estate Development. Orascom was eyeing the acquisition of a stake in Bawabet Al …
Minister of Housing - Assem El-Gazzar
4 August 04:28 PM Egypt builds transformer substation in New Mansoura City
Cairo – Mubasher: Egypt is currently building a transformer substation at a capacity of 500 megavolt ampere (MVA) in New Mansoura City. The first phase of the project, located in the southern area of the city, will have a capacity of 300 MVA to …
The first phase of the project includes 34 buildings for ministries
30 July 02:57 PM Egyptian cabinet denies 25% rise in sale prices at New Administrative Capital
Cairo - Mubasher: The Egyptian cabinet denied rumors circulated on a 25% increase in the land sale prices at the New Administrative Capital, according to a press release on Thursday. The cabinet confirmed that the sale prices at the New …
Emaar Misr obtained approval to build the investment zone
29 July 03:56 PM Egypt’s cabinet approves building investment zone in Uptown Cairo
Cairo – Mubasher: The Egyptian cabinet approved a request for the establishment of a specialised investment zone over 64 feddans in Uptown Cairo in Zahraa El-Mokattam. Emaar Misr for Development obtained approval to build the investment zone over …
The implementation period has been extended by 11 months
28 July 02:08 PM Heliopolis Housing approves SODIC's payment reschedule request
Cairo – Mubasher: The board of directors of Heliopolis Company for Housing and Development approved a request submitted by Six of October Development and Investment (SODIC) to reschedule the payments related to the co-development contract for 655 …
The funding will help low-income earners find affordable housing
22 July 05:51 PM Egypt’s cabinet approves $500m social housing finance deal
Cairo – Mubasher: The Egyptian cabinet approved a draft presidential decree on a funding agreement with the International Bank for Reconstruction and Development (IBRD). The agreement includes an additional funding of $500 million to the …
Proceeds will be used to finance the development of new urban areas
22 July 11:14 AM NUCA closes Egypt's largest local currency bond issuance – NBE
Cairo – Mubasher: The National Bank of Egypt (NBE) announced the closure of a EGP 10 billion securitised bond issuance backed by a portfolio owned by the New Urban Communities Authority (NUCA). This is the fourth bond issuance of El Taamir …
The mixed-use development is the real estate developer’s largest project in East Cairo
21 July 01:39 PM SODIC awards EGP 1.2bn contracts to develop SODIC East
Cairo – Mubasher: Six of October Development and Investment (SODIC) has awarded more than EGP 1.2 billion worth of construction contracts to develop its SODIC East project since 2018, SODIC’s managing director Magued Sherif said. “All launched …
The land plot was sold for EGP 17,500 per sqm
21 July 11:47 AM Zahraa Maadi sells land plot for EGP 15.7m
Cairo – Mubasher: Zahraa Maadi Investment and Development announced the sale of a land plot dedicated for residential purposes in Zahraa Maadi neighbourhood in a public auction. Spanning over an area of 898.75 square metres (sqm), the land plot …
The project features 18,000 residential units
14 July 10:44 AM Tahya Misr Fund spends EGP 1bn on El-Asmarat project
Cairo – Mubasher: Egypt’s Tahya Misr Fund has contributed EGP 1 billion to develop the social housing project in El-Mokattam area, El-Asmarat, for more than 80,000 residents of slums. The project features 429 buildings comprising 18,000 …
Establishing new residential buildings will be banned in some areas in Cairo
12 July 05:08 PM Egypt spends EGP 280bn on improving living conditions in Cairo – El-Sisi
Cairo – Mubasher: Egypt has spent EGP 280 billion on improving living conditions in Cairo during the last six years, President Abdel Fattah El-Sisi said. During the inauguration of a national project on Sunday, El-Sisi added that establishing new …
Egypt has 13 governorates free from unsafe and unplanned areas
12 July 02:12 PM Egypt builds 1m residential units with EGP 200bn
Cairo – Mubasher: Egypt has built about 1 million residential units at a combined value of EGP 200 billion, the country’s housing minister Assem El-Gazzar said on Sunday. The government established 610,000 social housing units and 140,000 …
The service station is projected to be operational in 12 months
12 July 01:41 PM MNHD, Total Egypt sign land rental deal in SARAI
Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) announced signing a rental agreement for a land in its SARAI project with Total Egypt. The land plot spans over 3,000 square metres (sqm) and will be part of a 7,000 sqm development, …
The third phase of the housing project includes thousands of residential units
12 July 11:14 AM Sisi inaugurates El-Asmarat Phase III
Cairo – Mubasher: The Egyptian President Abdel Fattah El-Sisi is set to inaugurate several national projects on Sunday, including the third phase of El-Asmarat housing project. The third phase of the housing project includes thousands of …
MNHD reported net profits of EGP 380 million in Q1-20
8 July 01:31 PM MNHD’s pre-sales surge to EGP 3.8bn in H1-20
Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) announced that its pre-sales (contracted sales and reservations) for the first half (H1) of 2020 registered EGP 3.78 billion, up by 83% year-on-year (YoY) from EGP 2.06 billion. The …
The securitised bonds will be issued for two of the top real estate companies
28 June 11:02 AM Qasatli, EFG Hermes ink EGP 1.8bn securitised bond issuance deal
Cairo – Mubasher: Mortgage finance firm Qasatli signed an agreement to issue five-year securitised bonds worth EGP 1.8 billion with the Egyptian Financial Group Hermes Holding (EFG Hermes). The securitised bonds will be issued for two of the top …
The syndicated credit facility will partially finance the investment cost of Hacienda Bay
25 June 12:00 PM Palm Hills borrows EGP 365m from AAIB, Banque Misr
Cairo – Mubasher: Palm Hills Developments Co. has signed a medium-term loan agreement worth EGP 365 million with Arab African International Bank (AAIB) and Banque Misr. The syndicated credit facility will partially finance the investment cost of …
Amer Group reported net profits of EGP 10.65 million in Q1-20
24 June 01:26 PM Amer Group awaits approval for 45-feddan land allocation in New Minya
Cairo – Mubasher: Amer Group Holding Co announced that its subsidiary has not received the New Urban Communities Authority’s (NUCA) official approval for the allocation of 45 feddans in New Minya. The matter is still subject to regulatory …
The iconic tower is set to be the highest in Africa
23 June 02:12 PM New capital’s iconic tower now stands at 188 metres
Cairo – Mubasher: The Egyptian Ministry of Housing announced that the iconic tower in the new administrative capital currently stands at 188 metres, the same height of Cairo Tower. Construction is still underway as the tower, located in the …
Khaled Zakaria El Adly Imam has been appointed as the chairman
9 June 12:35 PM Housing Heliopolis’ board reformed
Cairo – Mubasher: The board of directors of the Holding Company for Construction and Development (HCCD) decided to reform the board of directors of its subsidiary Heliopolis Company for Housing and Development (HHD). The new board will serve a …
8 June 03:13 PM AAIB to invest EGP 2bn in Landmark Sabour’s 1-NINETY
Cairo – Mubasher: Arab African International Bank (AAIB) will invest EGP 2 billion in the establishment of a new administrative building at Landmark Sabbour’s 1-NINETY in New Cairo.  The new building will be established over about 52,000 square …