Latest in Real Estate Highlight
Latest in Real Estate
Diarna Egypt targets 50% increase in net sales next fiscal year
Land speculations is one of the major challenges facing Egypt’s real estate market
EREEX 2016 to begin Tuesday with participation of Arab, local companies
The conference held during the exhibition will discuss the challenges, opportunities, and ways of developing the real estate sector
Ministry of Housing offers 6,000 units for rent
600,000 units have been offered so far in social housing project over two years as part of the ownership system
EGP 426m invested in Beta Greens housing project
Beta Egypt for Urban Housing develops housing for middle-income citizens
Jumeirah, Sakan Developments launch EGP 15bn residential beach project
Construction is scheduled to begin in the final quarter of 2016, says Jumeirah chairperson
Deutsche Börse nabs majority support for LSE merger
The planned merger between the London Stock Exchange and the Frankfurt-based Deutsche Börse is moving closer towards reality, despite concerns raised by Brexit and stock market competitors.
Government continues work on poverty reduction, housing shortage
Recent announcements by governmental officials compound the work already done to provide Egypt’s poor with suitable housing and utilities
Deadline extended to reserve units at Beit Al-Watan, Rehab, Madinaty projects
These units are complete and come in different models, ranging from 58-162 sqm, says the minister of housing
Building material prices expected to increase: experts
Increase in US dollar exchange rate led to 22% rise in construction costs, directly affects residential unit prices, says expert
25% increase during summer for rental properties in the real estate market
Brokers are used to raise prices, especially for Gulf tourists, because of the prominent belief that they are wealthy and come to enjoy, says real estate expert
Too early to predict Brexit’s influence on Egyptian real estate market: experts
The Egyptian real estate market will not be affected by Brexit in the short term, says Badr El-Din
Egypt moves towards real estate transparency
Egypt ranks 65th in JLL’s Global Real Estate Transparency Index
UK property funds rush to suspend trading
In quick succession, three funds have called a halt to an outpour of capital, joining three others. The UK’s long-booming real estate market has become a leading source of worry for its financial system post-Brexit.
Housing Minister tasks officials to quickly offer rent units in social housing project
Madbouly instructed preparation for the launch of about 40,000 units for rent
Al Asmarat: the Tahya Misr Fund’s relocation of Al-Doweiqa
The area of Al-Doweiqa, located in southeast Cairo, is home to ashwa’yat that are prone to rockslides and other hazards. The Tahya Misr Fund is working to relocate its inhabitants to its new project Al Asmarat
SECON, Hilton Worldwide sign contract to manage 4-star hotel in New Damietta
Hassanain pointed out that the project will shed light on New Damietta city as one of the important port cities.
Egypt’s economy needs 20 years to recover: Sabbour
Bureaucracy and corruption are the main factors behind receding investment in the Egyptian economy, says the former head of the Egyptian Businessmen’s Association
Maxim launches new North Coast project worth EGP6.5bn
The first phase of the Bo Sands part of the project will be delivered by 2019
United Bank to launch ‘Egara’ financing system for real estate in regular and Islamic systems: chairperson
In the Egara system, residential units are owned by the bank until the final instalment is paid.
Social Solidarity Ministry, Majid Al Futtaim sign cooperation protocol
The protocol supports the goals and vision of both the ministry and the company to create great moments for everyone, according to the agreement
Wadi Degla develops Magawish Resort, investing up to EGP 1.6bn
The project is divided into eight phases to be implemented gradually over an eight–year period, says Wadi Degla CEO
EGP 98.9bn government spending on BE Budget amounts to EGP 1,098 per person
Spending on new cities amounts to EGP 29.8bn, where only 2% of Egyptians live, compared to 28.4bn for areas where 98% live
TV drama becomes newest advertising tool for real estate developers
Ads through TV series are much better than provocative ads, says citizen
Al Nebras targets land portfolio in Egypt of up to 70,000 acres in 2017
Al Nebras provides residential units for graduates and low-income youth on 60 sqm, says chairperson
Housing Ministry, SFD sign protocol to develop 370 homes in Minya and Sohag
The overall objective of the project is to alleviate poverty by providing temporary jobs for youth in the target villages, says Soliman
Construction projects for New Administrative Capital in full swing
All construction projects in the new capital city will be completed in two years
Wadi Degla launches Promenade Maadi at a cost of EGP 350m
The project includes 26 buildings and consists of 200 housing units, says Helmy
EGP 47.5bn total investments in property market in FY 14/15: OBG
The government must lead the efforts to incentivise social housing because private sector developers seek the higher end of the market, says the report
Majid Al Futtaim achieves $1bn in revenues in 2015, of which Egypt represents 6%
Mall of Egypt will be inaugurated in September 2016 and Almaza City Centre during 2019, says Chief Human Capital Officer
I-City project the first fruits of a successful partnership
The project consists of 18,000 housing units built on an area of 500 acres