Real Estate

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21 November 12:59 PM Heliopolis Housing’s shareholders approve FY20/21 dividends

Cairo – Mubasher: The shareholders of Heliopolis Company for Housing and Development gave the green light for distributing a cash dividend of EGP 0.10 per share for fiscal year (FY) 2020/2021. The real estate developer will pay the dividend amount …

Photo Archive

18 November 03:16 PM Coldwell Banker targets EGP 20bn third-party contractual sales in 2023

By: Abdullah Bedeir Cairo – Mubasher: Coldwell Banker Egypt plans to achieve EGP 20 billion worth of third-party contractual sales during 2023, CEO, Karim Zain, told Mubasher. The real estate firm intends to exceed EGP 10 billion in third-party …

Photo Gallery

15 November 01:48 PM Hassan Allam’s subsidiary to develop Tagali Al Aazam site

Cairo – Mubasher: Hassan Allam Construction (HAC), a subsidiary of Hassan Allam Holding, has been awarded a project in Saint Catherine city in South Sinai to develop the Tagali Al Aazam site, according to an official announcement on Monday. HAC …

The revenues surged to EGP 1.01 billion in the January-September period

14 November 05:56 PM Porto Group Holding turns profitable in nine months

Cairo – Mubasher: Porto Group Holding turned to consolidated net profits of EGP 90.97 million in the first nine months of 2021, versus net losses of EGP 8.62 million in the corresponding period a year earlier, including minority shareholders' …

Financial Results

The project includes a total of 108 diverse units with various areas

14 November 05:28 PM Golden House launches EGP 600m project in New Cairo

Cairo – Mubasher: Golden House Real Estate Investment Company has launched the Rio Complex project in New Cairo, with a medical-administrative activity at an investment cost of EGP 600 million. Built on an area of 1,600 square metres (sqm), the …

Madaar plans to launch the Azha project in Ain Sokhna with investments of EGP 15 billion

14 November 03:55 PM Madaar Development targets EGP 22bn investments in Egypt

By: Abdullah Bedeir Cairo – Mubasher: Madaar Development Company plans to invest EGP 22 billion in three or four projects in the coming period, CEO Gasser Bahgat revealed. During a press conference, the CEO noted that the company will launch a …

Companies Investments

The revenues hiked to EGP 1.62 billion in the January-September period

14 November 02:05 PM Amer Group's profit skyrockets 1,783% in nine months

Cairo – Mubasher: Amer Group Holding Co reported consolidated net profits of EGP 187.92 million in the first nine months of 2021, a leap of 1,783% year-on-year (YoY) from EGP 9.98 million, including minority shareholders' rights. The company …

El-Mikawi was the Managing Director of Al Futtaim Group Real Estate

14 November 11:30 AM El-Mikawi named Chairman of Amer Group

Cairo – Mubasher: The board of directors of Amer Group Holding Co approved the resignation of Mansour Amer from his position as the Non-Executive Chairman. The board also decided to appoint Mohamed El-Mikawi as the new Non-Executive Chairman, …

The green housing units are set to be established in five new cities

10 November 04:33 PM Social Housing Fund aims to build 25k green housing units by end-2023

Cairo – Mubasher: The Social Housing and Mortgage Finance Fund (SHMFF) aims to build 25,000 green housing units in five new cities by the end of 2023, the fund's Executive Director, Mai Abdel Hamid, said. The green housing units are set to be …

The value of the transaction amounts to KWD 2.1 million

2 November 05:16 PM Al Arabiya Real Estate to sell entire stake in Egypt's Sharm Dreams

Mubasher: Al Arabiya Real Estate, listed on Boursa Kuwait, has reached an agreement to sell its entire stake in Egypt's Sharm Dreams for Real Estate Development Co, amounting to 5.47 million shares, for KWD 2.1 million (EGP 110 million). A total …

The revenues soared to EGP 7.62 billion

2 November 11:04 AM Emaar Misr for Development's 9M profit surges 138%

Cairo – Mubasher: Emaar Misr for Development reported consolidated net profits of EGP 2.81 billion in the first nine months of 2021, up by 138% year-on-year (YoY) from EGP 1.183 billion, including minority shareholders' rights. The revenues …

The project will be equally owned by Zahraa Maadi and Leopard Contracting

1 November 12:51 PM Zahraa Maadi expects EGP 3.3bn sales from New Heliopolis project

Cairo – Mubasher: The board of directors of Zahraa Maadi Investment and Development has awarded the development and construction of an integrated residential complex over a 34-feddan land plot in New Heliopolis City to Leopard Construction. The …

Egypt has managed to increase the populated area to 12%

31 October 02:06 PM Egypt to issue presidential decree for Ras El-Hikma City soon

By: Abdullah Bedeir Cairo – Mubasher: A new presidential decree is expected to be issued in the near future for the establishment of Ras El-Hikma City, set to be the second planned city in the North Coast after New Alamein City, the Deputy …

ITC mall is scheduled to be operational in the fourth quarter of 2022

28 October 04:10 PM Dahab Development launches ITC project with EGP 500m investments

Cairo – Mubasher: Dahab Development has launched the Iconic Trinity Complex (ITC) project, its first project in the New Administrative Capital (NAC), With investments of up to EGP 500 million. ITC spans over 8,000 square metres (sqm) in the …

The integrated urban project is scheduled to be delivered by 2025

28 October 03:43 PM TIJ Contracting to start construction on EGP 12bn project in Mostakbal City

Cairo – Mubasher: TIJ Contracting will start construction works on the Montenapoleone project, owned by Reportage Properties, in April with total investments of EGP 12 billion. Montenapoleone will be established over 111 acres in Mostakbal City in …

Companies Investments

The company also decided to dismiss the Deputy Chairman and Managing Director

27 October 01:02 PM Marseilia approves moving to main market, developing new land plot

Cairo – Mubasher: The board of directors of Marseilia Almasreia Alkhalegeya Real Estate Investment agreed to enter into partnership with the Northern Military Region to develop a land plot in Alexandria. The board also decided to begin procedures …

The acquisition will widen MNHD's product range

26 October 01:37 PM MNHD clarifies reasons behind MINKA's acquisition

Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) announced more details about the acquisition of MINKA Developments from the Sallam family. The company said that MINKA's projects are located inside Taj City's land plot and that the …

Mergers and Acquisitions

The first phase of the development includes 430 units

26 October 11:33 AM Qatari Diar starts working on EGP 1bn first phase of CityGate project in Egypt

Mubasher: Qatari Diar has started working on the first phase of its CityGate project in New Cairo with a value of EGP 1 billion. During a ceremony on Monday, the Qatari real estate firm's Bawabat Al-Sharq New Cairo Real Estate Investment signed a …

The works will be implemented at Taj City

26 October 10:41 AM Nasr Company for Civil Works awarded EGP 166m contract by MNHD

Cairo – Mubasher: Nasr Company for Civil Works has been awarded a contract by Madinet Nasr Housing and Development (MNHD) to implement the facility works at Taj City. The estimated value of these works amounts to EGP 166.2 million, the company …

El-Dahan has extensive experience in real estate development

25 October 05:42 PM City Edge Developments names new CEO

Cairo – Mubasher: The board of directors of City Edge Developments announced the appointment of Mohamed El-Dahan as its new CEO. El-Dahan has extensive experience in real estate development, including nearly 15 years at Emaar Properties, serving …

New City Developments is investing EGP 2.5 billion in the mixed-use project

25 October 05:29 PM New City Developments partners with El Hazek to provide housing solutions for Eco West

Cairo – Mubasher: New City Developments (NCD) announced its partnership with El Hazek Construction to provide high-quality construction work for Eco West, located in the 6th of October City. The partnership deal was signed by the CEO of NCD, Ramy …

The project is expected to generate EGP 4 billion in sales

18 October 01:15 PM Emerald Development to build EGP 2bn commercial project

Cairo – Mubasher: Emerald Development & Projects Management plans to establish a new project in Corniche El-Maadi with an expected investment of EGP 2 billion, CEO Hashem El-Sayed revealed. The project, which will feature commercial, …

The mixed-use project spans an area of 2,500 square metres

14 October 01:28 PM Genoa Development launches EGP 456m project in new capital

Cairo – Mubasher: Genoa Development has launched its first project in the New Administrative Capital named Seventy Seven Business Complex in the Downtown area with an investment of EGP 456 million. The project, which spans an area of 2,500 square …

Companies Investments

The facility will be used to finance SODIC West

14 October 12:02 PM SODIC pens EGP 1.57bn syndicated facility with two banks

Cairo – Mubasher: Six of October Development and Investment (SODIC) signed a long-term syndicated facility worth EGP 1.57 billion with Arab African International Bank (AAIB) and Banque Misr (BM) to finance the company’s West Cairo development …

Banking and Finance

El Gouna posted net real estate sales of EGP 3.05 billion

12 October 11:22 AM Orascom Development posts EGP 6.2bn real estate sales in nine months

Cairo – Mubasher: Orascom Development Egypt (ODE) achieved new real estate sales of EGP 2.2 billion in the third quarter (Q3) of 2021, a 50.3% year-on-year (YoY) increase from EGP 1.5 billion in Q3-20, the company's preliminary unaudited key …