Latest in Real Estate Highlight
Latest in Real Estate
Egyptian PM asserts importance of setting property management system
Egyptian Minister of Communications and Information Technology said that the property management system aims to rationally manage Egypt’s real estate
Government determined to upgrade informal settlements in Al-Salam City: Madbouly
Prime Minister visits housing project in Al-Salam City, which will provide 4,800 housing units
Upper Egypt records investments of EGP 63bn since 2014
The total cost of development projects that have been and are currently being implemented in Upper Egypt’s governorates since 2014 to the present date stands at EGP 63bn. The figure covers projects implemented by the Ministry of Housing, Utilities and Urban Communities in the time period since President Abdel Fattah Al-Sisi took office in 2014 …
Housing Ministry receives land allocation requests totalling 5,500 feddan in 2020
NUCA issues 124 ministerial approvals for property projects, 7 masterplans for new cities
Eastern Developments introduces EGP 3bn Genova project in Sheikh Zayed
Eastern Developments intends to launch its new Genova residential project, located in Sheikh Zayed, with investments worth EGP 3bn this month. Eastern Developments Chairperson Mohamed Talaat Abu El-Nasr said that the project is spread over an area of 20 feddan, and that the project masterplan has had all approvals issued. At a press conference on …
Egypt’s real estate sector manages to absorb COVID-19 repercussions in 2020
Although 2020 was a difficult year for all economic sectors, Egypt’s real estate market has managed to absorb the repercussions of the novel coronavirus (COVID-19) pandemic.
Amlak Egypt aims to provide EGP 3bn of mortgage finance in 5 years
Slashing interest rate boosts demand for mortgage finance, says CEO Ayman Abdel Hamid
YBA designs, manages 30 projects worth EGP 30bn average across Egypt
YBA Architects designed and managed about 25-30 projects, with an average cost of EGP 30bn, during 2020, with the projects located in various new cities across Egypt.
Court affirms constitutionality of prison penalty for illegal construction perpetrators
Cabinet extends deadline for reconciliation over building violations until March
Egypt extends reconciliation over building violations until March 2021
Egypt’s Prime Minister Mostafa Madbouly has extended the period of receiving reconciliation requests over construction violations until March 2021. Once the period comes to an end, the Reconciliation Law on Building Violations will be implemented, and the immediate demolition of violations that have not been reconciled will begin. Madbouly added that the government has issued …
Government builds 103,000 housing units worth EGP 23.5bn in 2020
Egypt’s Ministry of Housing, Utilities and Urban Communities has built 103,000 housing units, worth a total of EGP 23.46bn in investments, during 2020, according to Minister Assem El Gazzar.
El Rabwa Network invests EGP 1.5bn in four schools
Company opens first administrative headquarters for Global Paradigm Schools in Mostakbal City
Al-Rehab administration denies animal poisoning allegations
Al-Rehab and Madinaty are among the largest real estate projects developed by Talaat Moustafa Group (TMG) head, Hisham Talaat Mostafa
Builderia Development signs 3 contracts for construction of flagship PARAGON project at NAC
The signing took place as part of Builderia’s progress in the first phase of the PARAGON project, as a manifestation of the commitment to honour
Egyptians for Healthcare introduces CAPITALMED Medical City in east Cairo
Egyptians for Healthcare has launched the CAPITALMED Medical City, the largest international medical entity in the Middle East.
Tatweer Misr receives Outstanding Contribution to Entrepreneurship Award
Tatweer Misr has been awarded with Entrepreneur Middle East’s Enterprise Agility Awards 2020 in recognition of its Outstanding Contribution to Entrepreneurship. The award ceremony took place in Dubai, where leading figures and companies were awarded for their contribution to different fields. Ahmed Shalaby, President and CEO of Tatweer Misr, received the award virtually due to …
Tabarak Developments delivers 100 residential units in 90 Avenue project
Tabarak Developments has delivered 100 residential units from the first phase of the 90 Avenue project, the Vibe Zone. The company will deliver more units in the upcoming weeks, bringing the total number of delivered units to 150 housing units. All units planned for delivery are ready. Ali El Shorbany, Chairperson of Tabarak Developments, said: …
Al Marasem Development invests EGP 23.5bn in New Cairo’s Fifth Square project
Company delivers Fifth Square’s first phase
SODIC, AAIB sign partnership agreement to provide e-payment solutions
SODIC has signed a partnership agreement with the Arab African International Bank (AAIB) to provide its clients with e-payments solutions accessed through the developer’s website. The agreement entails that the AAIB provides a payment gateway that allows clients an e-payment option for their home installments and any other payments against services or products offered by …
Online property exhibitions see unprecedented interest due to COVID-19: Aqarmap
Aqarmap, a real estate marketplace in Egypt, has announced its future vision regarding virtual property exhibitions. The platform has achieved great success at its Aqarmap Expo on 27 November. The exhibition has seen unprecedented demand, as more than 10,000 people attended the event and showed interest in booking real estate units online. Emad Al-msaodi, Founder …
Contact Developments introduces New Capital’s Mercury Mall worth EGP 700m
Contact Developments has announced the launch of Mercury Mall, its first project in the New Administrative Capital (NAC). Mercury is a commercial, administrative, and medical mall. Contact Developments Chairperson Ahmed Fekry said that the Mercury project joined the company’s series of developments in new cities. During a press conference on Saturday, Fekry added that the …
Developing 1m residential units can increase Egypt’s GDP by EGP 2trn annually: Hisham Talaat Moustafa
Hisham Talaat Moustafa said that talks over launching a mortgage finance initiative for under-development units are very good, but outlook must be broader
Al-Sisi directs for national construction industry promotion
The Egyptian President met, on Tuesday, Prime Minister Mostafa Madbouly, Minister of Electricity and Renewable Energy Mohamed Shaker, Minister of Petroleum and Mineral Resources Tarek El-Molla, and Minister of Trade and Industry Nevine Gamea.
Al-Sisi instructs adding 3,300 housing units to ‘Residence for all Egyptians’ project
This came during his meeting with Prime Minister Mostafa Madbouly, Minister of Local Development Mahmoud Shaarawy, Minister of Housing Assem El Gazzar, President’s Advisor for Urban Planning Amir Ahmed, and Head of the Armed Forces’ Engineering Authority Ehab El Faar.
Egypt PM orders activation of spatial data centre to control urbanisation
Madbouly also directs for establishment of spatial data unit in every governorate to monitor spatial changes
Badreldin Developments introduces new phase at Kayan compound
Compound is comprised of 1,600 units with areas starting from 60 sqm
Real estate developer New Plan negotiates to launch 2nd project in Port Said
First phase of Éclat Port Said sold out within three days
Investment Law amendments offer new incentives in Egypt’s New Capital
Total number of contracts completed in New Capital’s first phase reach 218, says ACUD spokesperson
First phase of New Cairo’s Azzar compound ready for delivery in December
Investments made in project reach EGP 1.5bn, says Reedy Group’s CEO
Ajna for properties records EGP 1bn in sales at Carnelia Sokhna development
Saleh said that the Carnelia project is located on 100 feddans in Ain Sokhna, and has been designed by an international office providing a high quality of building standards. The built-up area does not exceed 17% of its total area, with the remaining space allocated to services and entertainment venues for the project.