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15 July 09:52 AM Madinet Masr, Heliopolis Housing to develop mega project in New Heliopolis
Cairo – Mubasher: Madinet Masr Housing and Development has announced the signing of a co-development project in New Heliopolis City with Heliopolis Housing and Development Company, known as Misr Al-Gadida for Housing and Development. The project …
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8 July 12:29 PM Madinet Masr pens MoU for construction of EGP 1bn Sarai project
Cairo – Mubasher: Madinet Masr Housing and Development has signed a memorandum of understanding (MoU) with Aboelwafa Contracting and Real Estate Investment Company to execute the construction work of the Sarai project. The MoU covers the …
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7 July 10:08 AM Orascom Development’s unit finalises deal with Egyptian authorities for Makadi Bay land
Cairo – Mubasher: Orascom Development Egypt (ODE) announced that its subsidiary, Makadi Heights for Tourism Development, has concluded an agreement with the Tourism Development Authority for an additional grace period of 8.50 years for its …
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4 July 03:51 PM Egypt's construction industry to expand 8% annually until 2029 – JLL
Cairo – Mubasher: Egypt's construction industry, the largest in Africa and third largest in the MENA region, is projected to grow at a compound annual growth rate (CAGR) of more than 8% until 2029, according to JLL’s construction market …
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3 July 10:32 AM TMG Holding launches EGP 1trn SouthMed project on Egypt’s North Coast
Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding), in partnership with the Egyptian government, has launched SouthMed, its first project on Egypt’s North Coast, with total investments of EGP 1 trillion ($21 billion) over an …
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2 July 01:22 PM Orascom Development Egypt unveils EGP 1.4bn sale deal
Cairo – Mubasher: Orascom Development Egypt (ODE) sold 145,266 square metres of land in El Gouna at a value of EGP 1.54 billion, according to a press release. The land sale, executed at 15 times its book value of EGP 101 million, marks the most …
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2 July 10:28 AM TMG Holding’s unit partners with Schindler to localise lift industry in Egypt
Cairo – Mubasher: Atrium for Contracting, a subsidiary of Talaat Moustafa Group Holding Company (TMG Holding), has signed a framework cooperation agreement with global lift manufacturer Schindler Group, to localise the industry in Egypt. Under the …
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30 June 11:39 AM Schneider Electric, Al Ahly Sabbour ink development deal
Cairo – Mubasher: Schneider Electric, Al Ahly Sabbour, and Gebal for Sustainability Solutions penned a deal to launch sustainable community development projects in Sidi Heneish village in Marsa Matrouh Governorate. The three parties highlighted a …
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27 June 12:54 PM UK’s IHG, Arkan Palm partner to launch 1st Holiday Inn Express hotel in Egypt
Cairo – Mubasher: UK-based IHG Hotels and Resorts has signed a management agreement with leading developer Arkan Palm for Real Estate Investment to launch the first Holiday Inn Express hotel in Egypt. Named Holiday Inn Express West Cairo 205, the …
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13 June 12:51 PM FRA greenlights Emaar Misr’s capital raise to acquire 2 development firms
Cairo – Mubasher: The Financial Supervisory Authority (FRA) of Emaar Misr for Development approved the company’s request to raise its issued capital by EGP 3.19 billion. The EGX-listed firm will acquire Albro North Coast for Developments and …
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12 June 09:57 AM SODIC inks deal With Marriott International for two Egypt hotels
Cairo – Mubasher: Six of October Development and Investment (SODIC) has signed an agreement with Marriott International to bring the latter's Tribute Portfolio brand to two upcoming hotels. The first property, with 170 rooms, will be located …
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11 June 09:33 AM Attal Properties, Arab Contractors launch EGP 25bn development project
Cairo – Mubasher:  Attal Properties has partnered with Arab Contractors Company to launch its premier project in "The 101" with total investments of around EGP 25 billion, according to a press release. The scheme, which spans more than 424,000 …
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10 June 12:28 PM Pioneers Properties’ consolidated profit skyrockets 1,051% YoY in Q1-24
Cairo – Mubasher: The consolidated net profit of Pioneers Properties for Urban Development soared by around 1,051% year-on-year (YoY) to EGP 1.17 billion in the first quarter (Q1) of 2024 from EGP 102.12 million in Q1-23. Consolidated operational …
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9 June 02:15 PM Madinet Masr, CIRA Education introduce Project Kayan in Taj City
Cairo – Mubasher: Madinet Masr Housing and Development has announced Project Kayan in collaboration with Lemania Swiss International School (LSIS), managed by CIRA Education’s subsidiary Eduhive, and Klub Kayan, operated by Blue Ribbon in Taj …
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9 June 11:05 AM TMG Holding achieves EGP 122bn sales in 5M-24
Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) has achieved total sales of EGP 122 billion in the first five months (5M) of 2024, up from EGP 45 billion in the same period the year before. The surge in sales include EGP …
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30 May 04:44 PM EFIC’s standalone profit jumps to EGP 158m in Q1-24
Cairo – Mubasher: Egyptian Financial and Industrial Company (EFIC) reported a standalone net profit of EGP 158.20 million in the first quarter (Q1) of 2024, up from EGP 87.26 million in the equivalent period of 2023. Sales leapt to EGP 779.63 …
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30 May 04:25 PM ElSaeed Contracting’s consolidated profit grows to EGP 61m in Q1-24
Cairo – Mubasher: The consolidated net profit of ElSaeed Contracting and Real Estate Investment Company rose to EGP 61.03 million in the first quarter (Q1) of 2024 from EGP 54.67 million in the same period a year earlier. Operaring revenues …
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30 May 01:10 PM TMG Holding’s consolidated profit leaps to EGP 4.1bn in Q1-24
Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) logged a consolidated net profit of EGP 4.13 billion during the first quarter (Q1) of 2024, a surge from EGP 700.13 million in the same quarter a year earlier. Consolidated …
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30 May 12:09 PM Arab Developers Holding swings to consolidated loss in Q1-24
Cairo – Mubasher: Arab Developers Holding turned to a consolidated net loss of EGP 36.66 million in the first quarter (Q1) of 2024, compared to a net profit of EGP 15.18 million in the same period a year earlier. Consolidated revenues declined to …
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29 May 10:29 AM Palm Hills registers 298% higher consolidated profits in Q1-24
Cairo – Mubasher: Palm Hills Developments Company recorded consolidated net profits after tax and non-controlling interest worth EGP 1 billion in the first quarter (Q1) of 2024, an annual jump of 298% from EGP 252.67 million. The revenues hiked by …
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28 May 03:57 PM Dubai Industrial City boosts regional presence via AED 410m land capacity expansion
Dubai – Mubasher: Dubai Industrial City, part of Tecom Group, has officially launched 13.90 million sq.ft of additional land capacity within its ecosystem, according to a press release. The additional land capacity was acquired through a AED 410 …
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27 May 11:49 AM Il Cazar Developments unveils EGP 30bn Safia project in Ras El-Hekma
Cairo – Mubasher: Il Cazar Developments has launched the Safia project in the Ras El-Hekma area of Egypt’s North Coast, with investments totalling EGP 30 billion. Safia, a residential and hotel development, will span 180 acres, according to a …
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27 May 11:14 AM Plaza Premium Group announces $100m expansion plans in Middle East
Mubasher: Plaza Premium Group (PPG) has invested $100 million to expand its presence in the Middle East with a major focus on Saudi Arabia. This investment aims to anchor the group’s role as a connector between the Middle East and popular global …
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26 May 03:43 PM Madinet Masr’s consolidated profit soars 287% YoY in Q1-24; contracted sales near EGP 15bn
Cairo – Mubasher: Madinet Masr Housing and Development logged a consolidated net profit after tax and non-controlling interest of EGP 1.17 billion in the first quarter (Q1) of 2024, a 287.53% year-on-year (YoY) surge from EGP 304.36 million. …
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22 May 11:41 AM Remco’s consolidated losses deepen to EGP 1.8bn in 2023
Cairo – Mubasher: The consolidated net losses after tax of Remco for Tourism Villages Construction hiked to EGP 1.83 billion in 2023 from EGP 283.53 million at the end of December 2022 Revenues amounted to EGP 744.26 million last year, higher than …