Latest in Real Estate Highlight
Latest in Real Estate
Egypt’s real estate performs well in times of crisis: Savills
Savills projected that some mergers, acquisitions will happen in Egypt’s real estate market in coming period
Archplan Developments sells out ‘Il Cuore Verde’ in New Capital
Built on an area of 3,400 sqm, the project was designed and developed with the idea of urban forest ecosystem, in cooperation with architect Stefano Boeri who designed Bosco Verticale towers in Milan, Italy.
E- SYSTEMATECH for digital real estate solutions launched with EGP 200m capital to enhance sector capabilities
“The new company will enhance capabilities of the real estate market on the one hand, and on the other hand supports credibility of real estate market through a digital database system capable of serving more than 1.2 million real estate marketers around the world, which crosses the Egyptian real estate product from local to global,” Elbatrawy stated.
Businessmen’s Association, RERA discuss facilitating real estate registration procedures
Vice-Chairperson of EBA Fathallah Fawzy stated that the real estate market in Egypt has suffered from difficulties in real estate registration, with the lack of activation of the in-kind registry law.
OLX Egypt announces most in-demand areas in real estate market
OLX highlighted the top five housing projects that are in demand by the customers on OLX, namely Madinaty, Hyde Park in New Cairo, Al Rehab City, Taj City, and Mountain View iCity.
Al-Borouj Misr, RWDI partner to conduct wind engineering studies for Sixty Iconic Tower in NAC
Assy said that RWDI will be responsible for conducting wind effect studies on Sixty Iconic Tower in order to ensure the quality and efficiency of the building to face any climatic conditions.
Top 10 listed firms account for 88% of real estate’s net profits over last decade: 10 Tooba
New research ‘Who Owns Cairo?’ shed light on fourth largest contributor to Egypt’s GDP, real estate
Egypt’s UC Developments signs construction, management contracts for its projects in NAC
The company has begun construction on the Uni Tower projects in cooperation with Amac Construction and Archrete
CGD Development launches Glouvre Side NAC with EGP 500m investments
The company also plans to develop new projects with investments worth EGP 700m in 2022
Arabisk Development acquires 30,000-sqm plot of land for residential project in West Cairo
The company is keen on the diversity of its land portfolio for the establishment of integrated development projects, as the company proceeds to establish integrated compounds, said Abdel Hamid Al-Wazir — Head of Arabisk Development and Chairperson of the Support and Follow-up Committee at the New Cairo Developers Association.
Adopting value engineering would circumvent building materials’ price hikes
Applying value engineering in various projects can save between 7 to 10% of the total construction cost
Egypt’s real estate projects need official unified platform to be exported: Federation of Chambers of Commerce
This is especially so since Egyptian real estate is one of the cheapest in the region.
Inertia launches new 353,000 sqm phase in Jefaira North Coast Project
The new phase spans over 353,000 sqm with total investments worth approximately EGP 3.8bn.
Urbnlanes Developments invests EGP 11bn in Egypt’s real estate market
The company also launched its next project in Egypt, East Lane, with EGP 2bn in investments
Misr Italia Properties records EGP 4.2bn in gross contracted sales in 1H 2022
The IL Bosco City – New Cairo Project’s sales exceeded EGP 1.5bn, meanwhile, the delivery of apartments in the first phase of IL Bosco – New Administrative Capital (NAC) started in July.
MAVEN Developments’s Cali Coasts accumulates more than EGP 16bn in investments
Rushdy added that the total market value of RiverWards Group’s projects is more than $500m, noting that MAVEN has exceeded the target sales for Cali Coast, which is situated 96 km from Marsa Matrouh and only 15 minutes from the city of Dabaa.
El-Batal Developments delivers 3 projects, launches 3 new projects
The company announced the delivery of the Italian-style Rock Vera Project, which is located in the Fifth Settlement near prominent medical and educational institutions and commercial malls.
Inertia signs EGP 2bn construction contracts for its projects in 2022
The company plans to deliver 1,600 units throughout the year
Lozan Urban Development launches 2nd phase of Apex Business Mall at NAC
“The second phase of the project comprises unique units in a variety of areas that meet the ambitions and desires of customers by providing a number of commercial units under the ‘franchise system’ to achieve the highest investment return for customers in its project,” said Adel Abdel Moneim — Chairperson of LUD’s Board of Directors.
Hegaz Development invests EGP 1.2bn in 1st phase of Sokhna Hills Project
Al-Zawawi explained that the project includes residential units, a hotel, a commercial mall, and an athletic area, pointing out that the total investments of the first phase amounted to EGP 1.2bn.
Banks and companies injected EGP 46.368bn in Egypt under the Real Estate Financing Initiative
The Social Housing and Mortgage Finance Support Fund revealed in a report on Sunday that the banks provided real estate financing worth EGP 44.335bn to about 411,000 customers, while the volume of funds pumped by real estate finance companies amounted to EGP 2.193bn.
Al-Qamzi Developments invests EGP 14bn in 204-feddan SeaZen project in North Coast
In a press conference Abdallah Al-Qamzi — Chairperson of Al-Qamzi Emirati Group — said that construction on the project will begin in October and that the first phase will be completed in 2025.
Eshtri Aqar platform for real estate developers sees over one million visitors
Eshtri Aqar, an online platform for Egyptian real estate developers, has seen an increase in demand during its first month of operation.
Green Modeling Contracting sets a foot in the African Market
GMC is one of few companies in construction sector that considers the environmental impact by using Green Concrete and recyclable materials
Egypt’s Cabinet controls, boosts demand for property
Besides several facilities the government has provided to property investors and developers, it has issued some regulations and controls to guarantee clients money and ensure that properties are delivered on time.
New Event Developments debuts Trave Project at NAC
Alragwy further noted that the real estate market in Egypt witnessed an unprecedented renaissance, especially with the state’s efforts to develop this vital sector in which more than 100 other industries are involved, which contributed to a remarkable recovery in light of the current global crises.
Maqam Misr launches EAST TOWER 5 project at NAC with EGP 670m in investments
Al-Saeed Shaaban — Chairperson of Maqam Misr Developments — said that EAST TOWER 5 spans 3,585 sqm. The ground floor includes commercial units and restaurants, and the first floor includes a food court area.
Prime Developments contracts with EFS for managing its NAC projects
Yacoub added that this agreement was made in order to manage the company’s projects in the NAC, which will be announced soon with joint Egyptian-Kuwaiti investments.
NCB Developments launches Verity at NAC with EGP 500m investments
Gerges Lawendy — Chairperson of NCB Developments — said that Verity is the company’s first investment in NAC, highlighting that the company’s Board of Directors has a vision in investing in the development and construction of this mega national project through a package of projects that are appropriate for the city.
State Ownership Document to attract foreign investments: Al Bostany
Document clarifies market exit procedure in some economic sectors, including real estate industry