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Real Estate

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3 March 05:37 PM Madinet Masr offers to develop 3 lands with Heliopolis Company
Cairo – Mubasher: Heliopolis Company for Housing and Development has received a technical and financial offer for the development of three plots of land in New Heliopolis City in partnership with Madinet Masr Housing and Development. The three …
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3 March 01:29 PM Emaar Misr records EGP 6.8bn consolidated profit in 2023
Cairo – Mubasher: Emaar Misr for Development logged a consolidated net profit after tax of EGP 6.81 billion in 2023, versus EGP 6.56 billion a year earlier. Consolidated revenues grew to EGP 15.09 billion last year from EGP 14.73 billion in 2022, …
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3 March 12:52 PM TMG Holding’s ICON finalises acquisition of 7 historic hotels in Egypt
Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) announced completing all procedures for the acquisition of a 51% stake in the management rights of Legacy Hospitality and Touristic Projects, which owns seven historic hotels in …
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29 February 04:38 PM Saudi Sumou, Egypt’s Hassan Allam pen development agreement
Mubasher: Saudi Sumou Holding and Hassan Allam inked a development agreement for key investment opportunities in the real estate sector, according to a press release. ADEER International Egypt, a subsidiary of ADEER Holding and Sumou Holding, …
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29 February 01:24 PM ElSaeed Contracting reports EGP 119m consolidated net profit in 2023; dividends proposed
Cairo – Mubasher: ElSaeed Contracting and Real Estate Investment Company posted a consolidated net profit after income tax of EGP 119.08 million in 2023 from EGP 104.01 million last year. Operations revenue increased to EGP 2.69 billion last year …
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28 February 02:52 PM Palm Hills Developments logs EGP 1.6bn profits in 2023; acquisition deal approved
Cairo – Mubasher: The net consolidated profit after income tax and non-controlling equities of Palm Hills Developments Company registered EGP 1.58 billion in 2023, up from EGP 1.25 billion a year earlier. Revenues jumped to EGP 17.46 billion last …
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28 February 01:35 PM TMG Holding’s consolidated profits soar 44% YoY in 2023; board nods to dividends
Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) posted a 44% year-on-year (YoY) surge in consolidated net profits after taxes and non-controlling interests to EGP 3.31 billion in 2023 from EGP 2.30 billion. The company’s …
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26 February 03:34 PM Pioneers Properties launches 1st phase of EGP 20bn IVOIRE East project
Cairo – Mubasher: Pioneers Properties for Urban Development has launched the first phase of its IVOIRE East project in New Cairo. Located on 438,000 square meters, IVOIRE East has an estimated investment cost of EGP 22 billion, according to a …
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26 February 11:09 AM Madinet Masr’s consolidated profits soar 189% YoY in 2023; dividends proposed
Cairo – Mubasher: Madinet Masr Housing and Development recorded a 188.85% year-on-year (YoY) surge in the consolidated net profit after tax and non-controlling interest to EGP 2.12 billion in 2023 from EGP 736.73 million. The company’s revenues …
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25 February 01:44 PM TMG Holding partners with ADQ, Modon Properties to develop $24bn Ras El-Hekma project
Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) has entered into an agreement with Abu Dhabi-based investment and holding firm ADQ and Modon Properties to collaborate on the development of the $24 billion Ras El-Hekma …
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25 February 10:10 AM Abu Dhabi-based ADQ to invest $35bn in Egypt’s Ras El-Hekma
Mubasher: Abu Dhabi-based investment and holding firm ADQ signed an agreement to invest $35 billion in Egypt’s Ras El-Hekma, according to a recent press release. Under the joint deal, ADQ will acquire the development rights for Ras El-Hekma in …
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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% …