Latest in Real Estate Highlight
Latest in Real Estate
ARCO to pump EGP 1.7bn into construction contracts in 2018
Company targets achieving 20% increase in sales this year, says executive director
Egypt real estate sector remains hotbed of economy, with great demand for New Administrative Capital
Current year will witness great foreign investment flows into Egypt’s real estate industry, say developers
Real estate sector contributed 15% of GDP in 9 months
Egypt has no legislation organising launch of international universities, says Redcon chairperson
Mortgage companies provide EGP 1.4bn in 11 months
Mortgage financing granted by mortgage companies from the beginning of the year to the end of November 2017 amounted to EGP 1.4bn, compared to EGP 1bn a year prior, according to the report issued by the Financial Regulatory Authority (FRA) in November. The FRA report said that the increase in the volume of funding amounted …
EGP 10bn investments in New Administrative Capital
First phase of staff transfer to capital sees 35,000 employees moved
3 real estate laws to be issued during current legislative session
Reconciliation on Building Violations Law will save government about EGP 150bn, says Abdel Ghani
Emaar Misr awards construction contracts worth EGP 2bn for phase one of Marassi Marina project
Construction of the Marina basin is expected to be completed by 2020
Arabian Cement Company to settle off $30.9m NBE loan by Mid-2021
Arabian Cement Company (ACC) announced that it received approval on rescheduling the $30.9m loan granted by the National Bank of Egypt (NBE), according to press statement on Wednesday. The statement said that the loan will be repaid on 15 quarterly instalments at 2m each, with a debt rate on foreign currencies of 5% above London …
Dispute over period of committing real estate developers to fix unit faults
New law article to protect customer rights stirs debate among developers
Madinet Nasr announces approval of Taj City’s master plan
Madinet Nasr Housing & Development (MNHD), Egypt’s leading urban developer, announced on Monday the Prime Minister’s approval of Tai City master plan. The master plan approval will allow MNHD to finally market and launch non-residential components, like the commercial zone and the hotel area, that will not only serve residents of Taj City, but the …
TMG posts 100% hike in 2017 sales, highest level since 2008
Sales have exceeded the company’s targeted annual budget to EGP 13.1bn
Marseilia Group, Amlak Finance sign MoU to develop project in Nasr City
Marseilia Group announced the signing of a memorandum of understanding (MoU) with the UAE based Amlak Finance PJSC to develop an urban project in Nasr City, Cairo. The MoU involves the development of a comprehensive urban project on a land plot owned by Amlak Finance PJSC in Nasr city. The agreement is between Amlak Finance’s …
Beta Egypt to inaugurate Golf Mall in October Gardens during the current year
H2 2018 may see a vigorous demand on properties, 20% hike in prices, says chairperson
Tabarak Developments to launch 3 projects in H12018
Company’s land bank about 7m sqm, contracts for the implementation of projects in the North Coast
Urban Communities Authorities investments worth EGP 15bn during 6 months
Investments of the Urban Communities Authority amounted to EGP 15bn during the first half (H1) of the current fiscal year, distributed over housing and infrastructure projects. The investments approved by the commission in the 2017/2018 plan amount to EGP 30bn and aim to increase them to EGP 40bn till the end of June 2018. According …
128% growth in properties listed on Propertyfinder website
The value of listed properties on the site exceeded EGP 193bn in 2017
Property price hikes revive participatory construction initiatives
In the last two years, a number of initiatives have been launched that offer residential units at costs less than market prices by up to 50% in several new cities, including New Cairo and Sixth of October City. The idea of the initiative is to assemble a group of customers corresponding to the number of …
Taameer Financial Leasing signs EGP 237m contract with Maadi Development and Construction
Consortium includes BM Lease and Global Lease companies, investment equally distributed to finance a project in Shorouk
41.7%, increase in value of implemented operations in building and construction sector by private sector in 2016
The Central Agency for Public Mobilisation and Statistics (CAPMAS) issued on Monday its annual bulletin of building and construction statistics for private sector companies in 2016. The statistical bulletin stated that the value of building and construction operations that have been implemented by private sector companies increased by 41.7% to reach EGP 56.4bn in 2016, …
Madinet Nasr Housing contracts, reservations surge 46% in 2017
Taj City, Sarai serve as a boost to company pre-sales book
Elmasa to inaugurate Royal Hotel in New Beni Suef within 2 years
EGP 200m investments in Royal Square, first phase delivery in 2020, says chairperson
Beta Egypt to launch first phase of Beta Greens New Cairo with EGP 5bn investments
First phase of project includes 200 units, scheduled to be delivered by 2021, says Fikri
Tatweer Misr plans to develop an integrated urban project in Sheikh Zayed
Company to start the development of its project in Mostakbal City in March, says managing director
Egypt to establish 2 monorail projects linking Sixth October, Cairo, New Administrative Capital: housing minister
Two monorails are to be established in Egypt, one to link the New Administrative Capital with East Cairo and downtown at 52 kilometres in length, and the other to link Sixth of October City with Giza at 35 kilometres in length, acting Prime Minister and Minister of Housing, Utilities, and Urban Communities Mostafa Madbouly revealed …
Elmasria markets 650 units in Beit Elmasria with targeted sales of EGP 250m
Elmasria Group for Real Estate will begin marketing 650 new units in its Beet Elmasria project in Sixth of October city, with targeted sales of EGP 250m. Omar El Kady, head of the sales department, said that the project includes about 1,350 units, 700 of which have been marketed and are being delivered and the …
Real estate companies’ offers attract high turnout at Next Move
Reduction of down payments, extension of payment periods up to 10 years
Shorouk, Madinaty, El Mostakbal hike prices by 20% in conjunction with offering housing units in New Administrative Capital
More prices hikes expected for property in El Mostakbal city as natural extension of New Administrative Capital, says Sabbour
OUD seeks to launch residential, commercial projects in New Administrative Capital
Company seeks to obtain a 100-acre plot of land in El Mostakbal City to build an integrated residential project
On its first day, thousands of visitors flock to Next Move exhibition
The opening of Next Move exhibition saw thousands of visitors pouring into the Cairo International Convention Centre to get a glimpse of the major unveilings and to capitalise on attractive payment offers in the residential sector for the middle-income housing segment, running until Saturday. Next Move Egypt features a 45-strong exhibitor list with more than …
Real estate business results reflect strong growth in first 9 months of 2017
Business results from most real estate companies for the first nine months of 2017 reflect strong growth. Some even reached new record highs in sales, including Talaat Mostafa Group, Palm Hills, Emaar Misr, and Sodic. Yet, the real estate indicator was less responsive to the profit growth, showing only a 20% increase since the beginning …