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13 December 05:43 AM

Real Estate

The investment cost of building Salam City is estimated at EGP 68 billion
12 December 01:52 PM Sisi allocates land for New Port Said City
Cairo – Mubasher: The Egyptian President Abdel Fattah El-Sisi has issued a presidential decree no 589 of 2019 to reallocate a land plot covering an area of 22,153 feddans (93.06 million square metres) in Port Said and North Sinai to the New Urban …
Real estate
The deadline for receiving offers is 12 January 2020
12 December 12:05 PM Egypt offers 147 industrial units in Benha
Cairo – Mubasher: The Egyptian Ministry of Investment and International Cooperation announced offering fully-finished 147 industrial units in the investment zone in Benha.  Units will be offered in collaboration with the Micro, Small and Medium …
Macroeconomics
Credit Agricole’s market share reaches 1.22% in Egypt
11 December 03:47 PM Credit Agricole Egypt to join CBE’s mortgage initiative
By: Islam Fadl Cairo – Mubasher: Credit Agricole Egypt aims to take part in the Central Bank of Egypt’s (CBE) new mortgage initiative during 2020, the bank’s managing director Pierre Finas said. The bank also plans to expand into corporate and …
Central Banks
MNHD logged a net profit of EGP 630.98 million in nine months
11 December 12:55 PM MNHD approves EGP 150m credit facility from United Bank
Cairo – Mubasher: The board of directors of Madinet Nasr Housing and Development (MNHD) approved the development of a land inside Taj City under partnership scheme. The real estate developer has also approved a credit facility worth EGP 150 …
Real estate
Sawiris set the mastering plan for Andermatt
11 December 11:08 AM Except for El Gouna, all projects came by coincidence – Samih Sawiris in RiseUp
By: Ingy ElSafy Cairo -Mubasher: On the final day of the RiseUp Summit 2019, the Egyptian tycoon Samih Sawiris was hosted to talk to the attendees about different topics and events, whether by speaking out on personal or business matters. The …
Global Economy
Land plots in the diplomatic district are sold at $400 per metre
11 December 10:46 AM Chinese, Saudi embassies request to move to Egypt’s new capital
By: Islam Fadl Cairo – Mubasher: About 60 embassies have submitted requests to the Egyptian Ministry of Foreign Affairs to obtain land plots in the diplomatic district in the New Administrative Capital, the official spokesman for the project …
Real estate
Iconic Tower
10 December 06:05 PM New capital’s business district expected to be delivered by mid-2021
Cairo – Mubasher: Finishing work of towers at the central business district in Egypt’s New Administrative Capital is set to begin in January 2020, assistant to the housing minister Khaled Abbas said. Delivery of these towers is expected to start …
Real estate
The project will feature residential buildings and a shopping mall
10 December 03:42 PM Heliopolis Housing plans EGP 4bn urban project in New Heliopolis
By: Abdullah Bedeir Cairo – Mubasher: Heliopolis Company for Housing and Development is planning to build an integrated urban project over an area of 75 feddans in New Heliopolis City, an informed source told Mubasher. Total investments of the …
Companies Investments
Zahraa Maadi logged a net profit of EGP 110.2 million in nine months
10 December 10:21 AM Heliopolis Housing approves to sell 34-feddan land to Zahraa Maadi
Cairo – Mubasher: Zahraa Maadi Investment and Development announced that it has received approval of Heliopolis Company for Housing and Development to purchase a land plot in New Heliopolis City. The real estate developer will obtain a …
Real estate
The loan will be used to resume the construction works of seven new faculties
9 December 11:55 AM Cairo Investment borrows EGP 130m from QNB Al Ahli
Cairo – Mubasher: Cairo For Investment and Real Estate Development signed a credit facility agreement worth EGP 130 million with Qatar National Bank Al Ahli (QNB Al Ahli). The loan will be used to resume the construction works of seven new …
Banking and Finance
CSCEC is building 20 towers in the new capital
9 December 11:19 AM DP World Sokhna inks deal to be Egypt’s hub for Chinese construction materials
Dubai – Mubasher: DP World Sokhna signed a trilateral partnership agreement with China State Construction Engineering Corporation (CSCEC) and China Ocean Shipping Company Limited (COSCO). Under the deal, DP World Sokhna aims to be a hub for all …
Real estate
The new hotel is set to be inaugurated by 2024
8 December 06:11 PM DM Developments invests EGP 400m in new Hilton hotel in Sokhna
Cairo – Mubasher: Dar Misr Developments announced investing EGP 400 million to build the first ‘DoubleTree’ hotel in Ain Sokhna in partnership with Hilton Group. DM Developments’ investment will be used to finance the construction of the hotel in …
Companies Investments
This move is part of the real estate developer’s efforts to diversify its financing sources
8 December 11:21 AM Talaat Moustafa’s unit gears up to issue EGP 2bn sukuk
Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) announced that its subsidiary, Arab Company for Projects and Urban Development, is finalising the required procedures to issue sukuk worth EGP 2 billion in the coming period.   This …
Real estate
City Centre Almaza has created about 40,000 direct and indirect jobs
5 December 04:14 PM Sahar Nasr inaugurates City Centre Almaza with $580m investments
By: Abdullah Bedeir Cairo – Mubasher: The Egyptian minister of investment and international cooperation Sahar Nasr and the UAE’s minister of climate change and environment Thani Al Zeyoudi on Thursday inaugurated City Centre Almaza with …
Real estate
Majid Al Futtaim created about 7,500 direct jobs in Egypt
5 December 03:38 PM Majid Al Futtaim eyes raising investments in Egypt to EGP 44bn
By: Abdullah Bedeir Cairo – Mubasher: Majid Al Futtaim aims to increase its investments in Egypt to EGP 44 billion, the company’s CEO Alain G. Bejjani said. Egypt has received EGP 26 billion in investments from the UAE-based leading integrated …
Companies Investments
The details of the offer will be disclosed after signing the contract
5 December 11:54 AM Heliopolis Housing approves in principle Zahraa Maadi’s purchase offer
Cairo – Mubasher: Heliopolis Company for Housing and Development has approved in principle the offer submitted by Zahraa Maadi Investment and Development to purchase a 34-feddan land in New Heliopolis. The details of the offer will be disclosed …
Companies Investments
A total of 478 units in the first phase are currently being established
5 December 11:33 AM Castle Development invests EGP 1.1bn in Landmark Phase I & II
Cairo – Mubasher: Castle Development announced the allocation of EGP 100 million to finance 15% of the construction of the first phase of its first project in the New Administrative Capital, Castle Landmark, by the end of 2019. Work is underway in …
Real estate
The company aims to obtain the land plot to build a comprehensive urban project
5 December 11:09 AM Heliopolis Housing receives purchase offer for 250-feddan land
By: Abdullah Bedeir Cairo – Mubasher: A real estate company has submitted a request to Heliopolis Company for Housing and Development to buy a 250-feddan land plot in New Heliopolis, a source told Mubasher. The company aims to obtain the land plot …
Companies Investments
The funding will be offered at an interest rate of 10%
5 December 10:59 AM Egypt launches EGP 50bn middle income mortgage funding initiative
Cairo – Mubasher: The Egyptian government approved the launch of a new initiative to support the finance of middle-income housing with EGP 50 billion, the governor of the Central Bank of Egypt (CBE), Tarek Amer, said. The funding will be offered …
Banking and Finance
The plot is subject to pricing
4 December 12:35 PM Porto Group to buy 30-feddan land in New Sohag
By: Abdullah Bedeir Cairo – Mubasher: Porto Group Holding has submitted an offer to buy a 30-feddan plot of land near Sohag University, head of the New Sohag Development Authority, Ragab Salman, told Mubasher. Porto Group is planning to launch an …
Companies Investments
The new project is situated over 135 feddans on the coastal road
3 December 05:46 PM Palm Hills Alexandria Phase II launched with EGP 5.1bn investments
Cairo – Mubasher: Palm Hills Development Co announced the launch of the second phase of Palm Hills Alexandria with investments of EGP 5.1 billion. Situated over 135 feddans on the coastal road, the project features residential units, commercial …
Real estate
Zahraa Maadi is in negotiations with Heliopolis Housing to obtain a 34-feddan land plot
3 December 11:45 AM Zahraa Maadi plans to build urban project in New Heliopolis
Cairo – Mubasher: The board of directors of Zahraa Maadi Investment and Development decided to submit a request to Heliopolis Company for Housing and Development to purchase a 34-feddan land plot in New Heliopolis. The company plans to build a …
Companies Investments
The distributions amount to EGP 0.50 per share
3 December 11:21 AM Zahraa Maadi’s shareholders approve EGP 66m dividends
Cairo – Mubasher: The ordinary general meeting (OGM) of Zahraa Maadi Investment and Development approved distributing cash dividends from the retained earnings registered in the financial statements for the period ended in December 2018. The OGM …
Cash Dividends
Delta Landmark project will offer 5,000 job opportunities
3 December 10:47 AM Egypt gov't invests EGP 2bn in Menoufia’s 1st logistic zone
Cairo – Mubasher: Egypt’s supply and internal trading minister, Ali Meselhy, has laid the cornerstone for the first logistic zone in Menoufia governorate at a total investment value of EGP 2 billion. Spanning an area of 54,600 square metres, the …
The new capital is located east of Cairo at a total area of over 170,000 feddans
2 December 04:35 PM ACUD offers 471 feddans for agricultural investment
Cairo – Mubasher: Administrative Capital For Urban Development (ACUD) has offered 471 feddans to local and international companies operating in sustainable development of agricultural nurseries. The company invited companies to submit their …
Real estate