Real Estate

The two schools will be established with a total investment of EGP 650 million

21 October 05:55 PM Al Ahly Sabbour, LVNG ink MoU to develop two int’l schools

By: Abdullah Bedeir Cairo – Mubasher: Egypt’s real estate developer Al Ahly Sabbour signed a memorandum of understanding (MoU) with New Giza for School Management (LVNG Learning Environments) to develop two international schools in the City of …

Amer Group logged net profits of EGP 27.608 million in six months

21 October 12:31 PM Amer Group's unit inks land development deal in New Administrative Capital

Cairo – Mubasher: Amer Group Holding Co announced that its subsidiary Amer Tourism Development signed a contract for the development of a land plot covering an area of one feddan and 1,000 square metres (sqm) allocated for Giza Tourism Development …

Egypt is leading the region by holding the first virtual, high tech real estate hub

18 October 05:13 PM MENA’s first virtual real estate exhibition to kick off in Cairo on Tuesday

Cairo – Mubasher: Expo One, an exhibition and event organiser, announced that V Estate Expo, the first virtual real estate exhibition in Egypt and the MENA region, will be launched on Tuesday, 20 October, in collaboration with Grand Technology. …

Event

Talaat Moustafa Group's residential flagship project, Madinaty

18 October 01:29 PM Talaat Moustafa considers development of 5K feddans in Capital Gardens City

Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) is considering the development of 5,000 feddans in Capital Gardens City. In response to reports of its talks with the New Urban Communities Authority (NUCA) over the project, the …

Companies Investments

The loan will finance the establishment of Porto Heliopolis

15 October 01:30 PM Amer Group's unit pens EGP 450m funding deal with Ahli United Bank

Cairo – Mubasher: Delmar for Touristic Development, a 99.9%-owned subsidiary of Amer Group Holding Co, signed a funding agreement worth EGP 450 million with Ahli United Bank. The loan will finance the establishment of Porto Heliopolis which will …

Companies Investments

The loan will finance Porto October’s 1.38 million sqm project

15 October 12:28 PM Porto Group inks EGP 500m Musharakah deal with Banque Misr

Cairo – Mubasher: Porto Group Holding signed a funding agreement to guarantee a loan for its subsidiary Porto October. The EGP 500 million long-term Musharakah agreement was signed with Banque Misr – Islamic Banking Sector, the company said in a …

The land will be offered at an estimated price of 3,725 per sqm

14 October 05:15 PM NUCA offers land plot for entertainment investment in New Damietta

Cairo – Mubasher: Mohamed Ragab, Head of the New Damietta City Development Authority, said that the New Urban Communities Authority (NUCA) approved a proposal for offering 1,990 square metres (sqm) in New Damietta for the establishment of an …

The deadline for receiving reconciliation requests is 31 October

14 October 01:56 PM Gharbiya receives EGP 638m reconciliation requests on building violations

Cairo – Mubasher: Egypt’s Gharbiya governorate has received about 91,120 requests for reconciliation on construction violations valued at EGP 638 million, the Middle East News Agency (MENA) reported on Wednesday. The Governor of Gharbiya, Tarek …

Heliopolis Housing owns a real estate asset portfolio worth EGP 100 billion

12 October 04:11 PM HCCD reveals strategic plan of Heliopolis Housing

Cairo – Mubasher: Egypt’s state-run Holding company for Construction and Development (HCCD) has set a five-year strategic plan to enhance the position of Heliopolis Company for Housing and Development to be placed among the largest real estate …

MNHD logged net profits of EGP 482 million in six months

7 October 11:08 AM Local, foreign alliances offer to buy MNHD's land plots

Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) has received offers from local and foreign strategic investment alliances to sell some of its land plots over areas exceeding 1.9 million square metres. MNHD affirmed that Emaar Misr …

EDNC includes 90,000 square metres of commercial and retail space

4 October 12:53 PM SODIC awards EGP 1.7bn contracts to develop EDNC

Cairo – Mubasher: Six of October Development and Investment (SODIC) has awarded over EGP 1.7 billion in construction contracts for the development of Eastown District New Cairo (EDNC), the commercial component of Eastown located directly on Road …

Companies Investments

The project features about 2,400 residential units

30 September 01:48 PM ARDIC invests EGP 2bn in residential project in Al Mostakbal City

By: Abdullah Bedeir Cairo – Mubasher: ARDIC Developments has invested about EGP 2 billion in its urban project in Al Mostakbal City out of total investments of EGP 5 billion, the Chairman, Mahmoud Hegazy, said. Spanning over 70 feddans, the …

FRA raised the limit of mortgage finance granted to each investor

28 September 01:38 PM FRA reveals EGP 2.38bn mortgage finance companies operating in Egypt

Cairo – Mubasher: The number of mortgage finance and refinance companies in Egypt reached 14 firms with a total issued capital of EGP 2.384 billion at the end of the second quarter (Q2) of 2020, the Chairman of the Financial Regulatory Authority …

About 1.4 million people have submitted reconciliation requests

24 September 04:23 PM Egypt extends payment period of building violation reconciliation fees

Cairo – Mubasher: The Egyptian Prime Minister, Mostafa Madbouly, announced an extension of the period for paying building violation reconciliation fees for a month until the end of October. About 1.4 million people have submitted requests for …

Bo Islands project is located at the heart of Sidi Abdelrahman Bay

24 September 01:41 PM NBE approves EGP 300m bridge loan for Maxim Real Estate Investment

Cairo – Mubaser: The National Bank of Egypt (NBE) approved the provision of a bridge loan worth EGP 300 million to Maxim Real Estate Investment (MREI) to finance Bo Islands project on the North Coast. The syndicated loan has been arranged by a …

Haitham Abdel Azeem, CEO of Ora Developers

23 September 03:37 PM Ora Developers in talks with banks over EGP 2bn loan

By: Abdullah Bedeir Cairo – Mubasher: Ora Developers is currently in negotiations with three to four banks over a EGP 2 billion loan, the CEO, Haitham Abdel Azeem, said. After the completion of negotiations, the company will inject EGP 1.5 billion …

The first phase is expected generate sales of EGP 6 billion.

22 September 03:58 PM Ora Developers awards EGP 5bn contracts to develop ZED East

By: Abdullah Bedeir Cairo – Mubasher: Ora Developers has awarded EGP 5 billion worth of contracts for the development of the first phase of ZED East in New Cairo, the Chairman and CEO, Naguib Sawiris, said. Orascom, Alrowad Group, and Redcon …

Companies Investments

Amer Group Holding Co achieved net profits of EGP 27.608 million in six months

22 September 01:58 PM Amer Group cancels plan to build project in New Sohag City

Cairo – Mubasher: Amer Group Holding Co cancelled a plan to purchase a land plot in New Sohag City for building an urban project. The company took its decision after conducting financial and marketing studies to consider the feasibility of the …

SODIC sold 1,500 units in the Villette Project

20 September 05:13 PM SODIC's unit inks EGP 2.57bn facility deal with AAIB

Cairo - Mubasher: Six of October Development and Investment (SODIC) announced that its subsidiary SOREAL For Real Estate Investment signed a medium-term facility package worth EGP 2.57 billion with the Arab African International Bank (AAIB). The …

Banking and Finance

The project is located on an area of nearly 128 acres

20 September 03:56 PM City Edge Developments launches Mazarine Islands Phase II

Cairo – Mubasher: City Edge Developments has launched the second phase of Mazarine Islands in New Alamein after the first phase was sold out completely. The project, developed by the New Urban Communities Authority (NUCA) and marketed by City Edge …

The facility will enable the company to promote the sale of its “ready to move” units

7 September 05:31 PM Palm Hills signs EGP 1bn facility deal with NBE

Cairo – Mubasher: Palm Hills Developments (PHD) signed a facility agreement worth EGP 1 billion with the National Bank of Egypt (NBE) through utilising receivables from the sale of “ready to move” units. The facility will enable the company to …

Banking and Finance

Jura El-Galala

7 September 04:56 PM New Jersey Developments launches EGP 1bn Jura El-Galala project

By: Abdullah Bedeir Cairo – Mubasher: New Jersey Developments has launched Jura El-Galala project in Ain Sokhna with investments of EGP 1 billion. Spanning over an area of 10 feddans, the project is comprised of a ground floor and four storeys …

The Egyptian President Abdel Fattah El-Sisi

3 September 03:50 PM El-Sisi allocates land in Matrouh for wastewater project

Cairo – Mubasher: The Egyptian President Abdel Fattah El-Sisi issued a decree for the allocation of a state-owned land plot in Matrouh for building a wastewater plant and an administrative building, the Middle East News Agency (MENA) reported on …

PHD achieved net profits of EGP 276.585 million in six months

1 September 02:19 PM Palm Hills approves EGP 1bn securitisation issuance

Cairo – Mubasher: The board of directors of Palm Hills Developments (PHD) approved a securitisation issuance worth about EGP 1 billion. The transaction will be conducted by the Egyptian Securitization Company, PHD said in a bourse filing on …

Banking and Finance

Revenues slid to EGP 2.008 billion in the six-month period

1 September 01:48 PM Palm Hills sees 39% profit decline in H1-20 on lower revenue

Cairo – Mubasher: The consolidated net profits of Palm Hills Developments (PHD) fell by 38.7% year-on-year (YoY) to EGP 276.585 million in the first half (H1) of 2020 from EGP 451.47 million, including minority shareholders’ rights. The company’s …