Real Estate

Cairo – Mubasher: Abu Soma Development Company, the developer of Somabay, and REDCON Construction teamed up to implement a series of major construction projects in the Red Sea region at an investment of EGP 1.70 billion. The memorandum of …

Cairo – Mubasher: IMKAN Misr has signed agreements with Forward Construction and Global Energy for Alburouj project at a combined investment value exceeding EGP 2 billion, according to a press release. With a total investment of approximately EGP …

Cairo – Mubasher: Orascom Construction posted consolidated net profits after tax valued at $70.70 million in the first half (H1) of 2024, an annual drop of 46.80% from $132.90 million. Revenues reached $1.47 billion in H1-24, down 5.50% …

Cairo – Mubasher: Orascom Development Egypt has sold a commercial building to Seoudi Supermarket within the O West commercial strip at a value of EGP 332 million. the transaction aims to integrate the first supermarket in the destination, which …

Cairo – Mubasher: Madinet Masr Housing and Development signed a memorandum of understanding (MoU) with Smart Construction and Development (SCAD) for the Sarai multi-purpose project in New Cairo with a contractual value of EGP 650 million. This …

Cairo – Mubasher: Mardev Developments has signed a partnership agreement with Hilton to launch Hilton Garden Inn Cairo New Zayed, according to a press release. Zohdy Zahran, Chairman of Mardev Development stated that Hilton Garden Inn Cairo New …

Cairo – Mubasher: Palm Hills Developments Company posted consolidated net profits after tax and minority interest worth EGP 1.70 billion in the first half (H1) of 2024, an annual hike of 180% from EGP 608 million. Revenues reached EGP 10.93 …

UAE – Mubasher: Dubai-based Meteora Developers has acquired the DIFC-based property crowdfunding platform Maisour in a multimillion-dollar deal, according to a press release. The transaction aims to reshape the UAE's real estate investment …

Cairo – Mubasher: CI Capital Holding for Financial Investments registered consolidated net profits amounting to EGP 1.31 billion in the first half (H1) of 2024, versus EGP 532 million in H1-23. Total revenues reached EGP 4.99 billion in H1-24, …

Cairo – Mubasher: Emaar Misr for Development posted consolidated net profits amounting to EGP 7.64 billion in the first half (H1) of 2024, versus EGP 3.48 billion in H1-23. Net revenues reached EGP 5.60 billion in H1-24, down year-on-year (YoY) …

Cairo – Mubasher: The consolidated net profits after taxes and non-controlling interest of Talaat Moustafa Group Holding Company (TMG Holding) jumped by 308% to EGP 6.36 billion in the first half (H1) of 2024 from EGP 1.55 billion in H1-23. …

Cairo – Mubasher: The consolidated net profits of Amer Group Holding Company fell to EGP 13.88 million in the first half (H1) of 2024 from EGP 26.92 billion in H1-23, according to the financial results. Net revenues amounted to EGP 523.33 million …

Cairo – Mubasher: Orascom Development Egypt posted consolidated net profits valued at EGP 942.76 million in the first half (H1) of 2024, lower than EGP 1 billion in H1-23. Net revenues amounted to EGP 10.21 billion in H1-24, up 64.90% year-on-year …

Cairo – Mubasher: The consolidated net profits of Madinet Masr Housing and Development hiked by 149.40% to EGP 1.45 billion in the first half (H1) of 2024, compared to EGP 584.70 million in H1-23. Revenues amounted to EGP 4.30 billion in H1-24, …

Cairo – Mubasher: Zahraa Maadi Investment and Development recorded consolidated net profits after tax valued at EGP 250.88 million in the first half (H1) of 2024, an annual leap from EGP 117.03 million. Revenues hit EGP 338.96 million in H1-24, up …

Cairo – Mubasher: Palm Hills Developments Company has established a company in Saudi Arabia and appointed Majed Sharif as its CEO. The EGX-listed firm announced the news in a bourse disclosure on 4 August 2024. In the first quarter (Q1) of 2024, …

UAE – Mubasher: Emirates Water and Electricity Company (EWEC) has received four proposals for its Saadiyat Island reverse osmosis desalination project in Abu Dhabi.  Bids were submitted by Acciona Agua, Engie, GS Inima Environmental, and a …

Cairo – Mubasher: Zahraa Maadi Investment and Development has provided preliminary approval for a co-development project with Madinet Masr Housing and Development in New Heliopolis City. The project is situated on 41.90 acres and will fit …

Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) reported a 550% year-on-year (YoY) jump in sales to EGP 390 billion ($8.10 billion) during the first seven months (7M) of 2024 from EGP 60 billion. The significant increase in …

Cairo – Mubasher: Six of October Development and Investment (SODIC) logged a consolidated net profit of EGP 629.56 million in the first half (H1) of 2024, up from EGP 341.71 million in H1-23. Total real estate revenues rose to EGP 3.51 billion in …

Cairo – Mubasher: Beltone Mortgage, a subsidiary of Beltone Holding, has captured a 22.25% market share in the Egyptian market during the first half (H1) of 2024. In H1-24, the company provided real estate financing totalling EGP 2.60 billion to …

Cairo – Mubasher: JD Holding, a joint-venture (JV) between Jebal Real Estate Development and Abu Dhabi National Investment Company, has signed a strategic partnership agreement with several Emirati businessmen, in collaboration with FAB Group and …

Cairo – Mubasher: Marriott International and Reliance Ventures, the hospitality investment arm of Reliance Egypt, have signed an agreement to open a Moxy Hotel in Downtown Cairo. Scheduled to open in 2029, Moxy Cairo Downtown will introduce the …