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21 January 08:17 PM

Real Estate

The facility will be used for a loan repayment
2 hours ago Palm Hills signs EGP 505m facility agreement with AUB Egypt
Cairo – Mubasher: Palm Hills Development Company has signed an EGP 505 million short-term facility agreement with Ahli United Bank (AUB) Egypt, according to a bourse statement released on Tuesday. The company announced that it will use the …
Banking and Finance
A total of 17,000 residential units were built in partnership with the private sector
5 hours ago Egypt's gov’t builds 437k residential units in 2019
Cairo – Mubasher: The Egyptian government established 437,000 residential units over the course of 2019, according to data revealed by the cabinet’s Media Center on Tuesday. A total of 17,000 residential units were built in partnership with the …
Macroeconomics
Total direct support to the project amounted to EGP 4.6 billion
01:34 PM Egypt's housing ministry spends EGP 60bn on social housing units
Cairo – Mubasher: Egypt has spent EGP 60 billion so far out of total EGP 195 billion needed for the establishment of 1 million social housing units, the country’s housing minister Assem El-Gazzar said. Total direct subsidies to the project …
Real estate
The two real estate developments are expected to generate sales of about EGP 10 billion
12:30 PM DM Development to launch New Cairo, North Coast projects at EGP 3bn in FY21/22
By: Fahd Omran Cairo – Mubasher: DM Development is looking to launch two property projects in the North Coast and New Cairo by the beginning of fiscal year 2021/2022. With total investments of EGP 3 billion, the North Coast project and the New …
Real estate
Talaat Moustafa Group submitted a request to purchase a 500-feddan land plot
20 January 04:06 PM Talaat Moustafa Group likely to finalise talks over west Assiut land in month
By: Abdullah Bedeir Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) is in negotiations with the Ministry of Housing’s New Urban Communities Authority (NUCA) to purchase a land plot, the company’s CEO and managing director Hisham …
Real estate
The winning bidder will acquire a 10% stake in the company
15 January 11:16 AM Heliopolis Housing extends deadline for bid submissions
Cairo – Mubasher: Heliopolis Company for Housing and Development (HHD) announced extending the deadline for submitting bids to acquire a 10% stake in the company with management rights to 21 February. Any other developments regarding this matter …
Event
“5A” features built-up areas spanning over 35,000 square metres
14 January 04:18 PM The Waterway launches EGP 4bn ‘5A’ business area in New Cairo
Cairo – Mubasher: The Waterway has launched ‘5A’ integrated business area, comprising administrative, commercial, and entertainment services, in Cairo’s Tagamou El-Khames with investments totalling EGP 4 billion. Spanning over 35,000 square …
Real estate
The company plans to invest a total of EGP 308.99 million in 2020
13 January 01:48 PM Al Shams Housing targets EGP 187m profit in 2020
Cairo – Mubasher: The board of Al Shams Housing and Urbanization has approved the company’s budget plan for 2020. The company seeks to achieve profits of EGP 187.45 million in 2020, up from a target of about EGP 150.36 million for the fiscal …
Financial Results
Amer Group's net profits reached EGP 39.3 million in nine months
12 January 05:01 PM Amer Group denies issuing EGP 500m bonds
Cairo – Mubasher: Amer Group Holding Co denied news reports regarding the issuance of bonds worth EGP 500 million to provide liquidity. News stating that the real estate developer considers issuing bonds worth EGP 500 million to provide liquidity …
Bonds
Housing minister, Assem El Gazzar
9 January 04:23 PM Egypt’s NUCA plans to pump EGP 44bn investments in 6M
Cairo – Mubasher: Egypt’s New Urban Communities Authority (NUCA) has spent EGP 33 billion on different projects during the last six months including developments in new cities and slums, along with road projects. Egyptian housing ministry is …
Macroeconomics
MNHD is developing over 10,000 real estate units at the moment
9 January 01:42 PM MNHD logs EGP 6.3bn contractual sales in 2019
Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) reported contracts and sales bookings worth EGP 6.3 billion during 2019, higher by 15% when compared to EGP 5.49 billion in 2018. This rise is attributed to the demand for the company’s …
Real estate
Talaat Moustafa maintains the “Optimistic” outlook for 2020
5 January 05:47 PM Talaat Moustafa logs EGP 20.4bn sales in 2019, maintains 2020 outlook
Cairo – Mubasher: Talaat Moustafa Group Holding has achieved property sales of EGP 20.4 billion during 2019 when compared to EGP 21.3 billion in 2018. The sales included EGP 5.4 billion worth of income from non-residential units which recorded a …
Companies Investments
Zahraa Maadi agreed to buy the land for a total value of EGP 481.36 million
2 January 12:22 PM Zahraa Maadi pays EGP 72m in advance for land in New Heliopolis
Cairo – Mubasher: Zahraa Maadi Investment and Development has agreed to make an advance payment of EGP 72 million to purchase a land plot from Heliopolis Company for Housing and Development. The down payment represents 15% of the value of the …
Companies Investments
The southern ring road of 22 kilometres long has four lanes
31 December 2019 05:35 PM Egypt to execute new roads at EGP 5.37bn in Sixth of October
Cairo – Mubasher: New Roads with a total length of 93 kilometres will be established in the 6th of October city at a cost of EGP 5.37 billion, including 18 industrial works and nine pedestrian bridges, Egypt's minister of housing, Assem El-Gazzar, …
Real estate
The company is currently conducting a study to develop the Island
31 December 2019 03:15 PM Orascom Development Egypt retakes possession of Amoun Island
Cairo – Mubasher: Orascom Development Egypt announced that it has retaken possession of Amoun Island in Aswan in cooperation with the Egyptian General Company for Tourism and Hotels (EGOTH). The company is currently conducting a study to develop …
Companies Investments
A total 25 roads have been built at a cost of EGP 8 billion
31 December 2019 00:40 PM Egypt sees major housing, public utility projects in 2019
Cairo – Mubasher: Egypt has witnessed several achievements in public utilities and housing sectors during 2019. Roads At a cost of EGP 8 billion, 25 roads with a combined length of 732 kilometres have been built during the year, according to a …
National Housing logged a net profit of EGP 967,188 in Q1-19
29 December 2019 02:11 PM National Housing approves EGP 605m offer to sell Le Méridien Heliopolis
Cairo – Mubasher: The National Company for Housing for Professional Syndicates announced that its extraordinary general meeting (EGM) approved an offer submitted by IMEX International to the National Bank of Egypt (NBE) to purchase Le Méridien …
Real estate
Six unplanned areas are set to be developed
29 December 2019 01:24 PM Egypt to invest EGP 200m in developing South Sinai slums
Cairo – Mubasher: A number of unplanned areas in the Egyptian govenorate of South Sinai are set to be developed at a total estimated cost of EGP 200 million, the Informal Settlements Development Fund’s (ISDF) executive director Khaled Seddiq said. …
Macroeconomics
The project is SODIC’s first non-residential project in East Cairo
29 December 2019 00:44 PM SODIC’s unit inks EGP 1bn funding deal with CIB
Cairo – Mubasher: Six of October Development and Investment (SODIC) announced that its subsidiary SOREAL has signed a medium-term credit facility agreement with the Commercial International Bank – Egypt (CIB). The EGP 1 billion funding will be …
Real estate
The company’s authorised capital will be increased to EGP 1.5 billion
26 December 2019 11:52 AM Heliopolis Housing’s shareholders approve cash dividends, bonus issue
Cairo – Mubasher: Heliopolis Company for Housing and Development announced that its ordinary general meeting (OGM) approved a cash dividend distribution of EGP 44.5 million. The first dividend distribution amounts to EGP 5 million, while the …
General Assembly
A total of 53 slums were developed in FY18/19
25 December 2019 03:21 PM Investments in Decent Life Phase I hit EGP 944m in FY18/19
Cairo – Mubasher: Egypt injected EGP 944 million into the first phase of “Hayat Karima” (A Decent Life) initiative during fiscal year 2018/2019, assistant minister of planning Gamil Helmy said. A total of 53 slums, accommodating about 171,000 …
SODIC launched the first phase of the 500-feddan “VYE” project
25 December 2019 01:23 PM SODIC, NUCA sign escrow agreement with Banque Misr
Cairo – Mubasher: Six of October Development and Investment (SODIC) and the New Urban Communities Authority (NUCA) signed an escrow agreement with Banque Misr over a 500-feddan project in New Sheikh Zayed City. The new contract is the beginning …
Real estate
The Pearl Mall will be established over an area of around 3,000 sqm
24 December 2019 04:37 PM Dolmen Developments plans to invest EGP 1bn in New Administrative Capital
By: Abdullah Bedeir Cairo – Mubasher: Dolmen Developments is looking to build three administrative-commercial projects with total investments of more than EGP 1 billion in the New Administrative Capital. The real estate developer has obtained …
The new section features various buildings
24 December 2019 04:16 PM Bayut offers new guides for popular towers across the UAE
UAE - Mubasher: Dubai-based property website Bayut has launched a new section for Building Guides including full details about the property types, amenities available, service charges, and the average cost for renting and buying in popular towers …
Real estate
VYE project with all its phases is likely to generate sales of EGP 43 billion
23 December 2019 11:12 AM SODIC’s VYE Phase I generates EGP 1bn sales in 2 days
Cairo – Mubasher: Six of October Development and Investment (SODIC) has offered the first phase of the 500-feddan “VYE” project in New Sheikh Zayed City for sale. Sales in the first phase have registered EGP 1 billion in just two days, the company …
Real estate