Latest in Real Estate Highlight
Latest in Real Estate
Emaar Misr leads real estate company’ sales with contracts worth EGP 8.6bn
Emmar Misr also concluded the reconstruction of new sales contracts worth EGP8.6b in 2015, compared to EGP7.1b in 2014, which marks a 21.2% growth rate
Real estate companies in EGX move towards strengthening their financial, marketing positions
The increase in sales was a surprising development for the majority of companies that recorded a growth in sales.
Smart Village to continue expansion in 2016: Adel Danish
Daily News Egypt spoke with the chairman and CEO of the development company, Adel Danish, regarding his plans for Smart Village in 2016
Prof Estate: e-marketing pushes buying, selling in real estate market
During his speech on the second day of the CityScape Egypt conference, Olejnik said that the dependence of many countries on electronic marketing in the real estate industry helped in the activation of buying and selling
YouGov expects domestic stabilised growth in real estate over the next 12 months
The study revealed that 69% of workers and consumers in the real estate market believe that investment growth in real estate will proceed according to normal growth rates over the next 12 months
Madaar Development targets EGP 1.8bn in sales during 2016
Ongoing negotiations with CIB and other private bank to develop company’s real estate portfolio
SODIC liquidity is EGP 2bn, EGP 700 allotted for acquiring new lands
Company’s total debts to NUCA for 2016 reached EGP 360m
Toward decentralisation: Palm Hills looks to government to initiate move beyond Cairo’s bounds
Palm Hills will deliver 1,800 housing units during the current year
Real estate market in Abu Dhabi takes nosedive
Wrapping up the real estate market in 2015, the JLL report said the market gradually fell after that period due to the international decline in oil prices
Talaat Moustafa maintains top position in land portfolio ranking at 43.2m sqm
Almost all the rest of Talaat Moustafa’s land portfolio is acquired by the Rehab project
PACT has pumped EGP 325m into its White Bay project so far: company president
In negotiations with banks to offer financing, expect to settle within five or six months, says company official
UAE real estate firms shift focus to Egypt
Abu Dhabi-based Capital Group Properties (CGP) has implemented several large-scale projects in many countries worldwide, including the UAE, the United Kingdom, the Seychelles, Montenegro, and Sri Lanka
Real estate investors criticise government’s land-offering procedure
State monopoly’s on land offerings is behind price increase, says EBA chairman at CityScape conference
Increasing social housing units’ down-payment may affect turnout of applicants
Housing Ministry increased down-payment to EGP 9,000 from EGP 5,000
Government sets timeline for delivery of social housing units in response to parliament criticism
A total of 300,000 units will be delivered by the end of 2016, while sanitation coverage in urban areas is set to rise to 95% by end of June 2018
SECON begins its Riyadh project in Egypt
Launching the project for marketing during Cityscape after obtaining the ministerial permit for the project, said SECON CEO Darwish Hassanein
69% of real estate professionals confident in market growth
Investors and real estate professionals have much to be optimistic about
EGP 2.5bn syndicated loan to Majid Al Futtaim
Alex Bank and the National Bank of Abu Dhabi will act as account banks
Capital Group Properties develop ‘Alburouj’ project with investments of EGP40bn
Project includes 30,000 units, built on 1,212 acres
Arabian Cement’s financial statements impacted by foreign currency shortage
The company’s profits declined to EGP 111m during Q4 2015
1,560 units built in New Tiba city: minister of housing
A total of 5,352 new housing units are being built in the city, says Madbouly
NUCA seizes farmers’ land for construction in Beni Suef
The government’s decisions are arbitrary and serve only the investors, says NGO
7,000 social housing units in 6th of October to be delivered in 2016
Armed Forces Engineering Corps supervises 40% of units in 6th of October’s social housing project
Residential projects targeting middle class winning in Egyptian market: Aqarmap founder
As a search engine, Aqarmap allows users to search thousands of properties from real estate companies and private owners
MNHD posts EGP 91m net profit in Q4 of 2015: El-Hitamy
Company attributes revenue growth to increased business size and commitment to delivery dates: MNHD Managing Director
Mortgage Finance Fund looks into 20,600 citizens competing for 14,400 housing units
The fund rejects 8,400 applications in New Cairo and 6th of October City
Sales in Palm Hills’ new project reach EGP 491m
Despite reports stating that demand on luxurious units will slow, PHD sells 45% of its project’s units in two days
Real estate developers demand increase of joint projects
Chairman of Jones Lang LaSalle-Egypt (JLL-Egypt) Ayman Sami said the employment of the public-private partnership (PPP) system in the implementation of housing projects would help mitigate the housing crisis, especially in projects allocated for low-income citizens
Social Housing Project applicants resell awarded units
The housing units are being sold despite penalty of one-year prison sentence and fine not to exceed EGP 7,000
Real estate search engine looks to expand in region
Aqarmap to target three locations in Morocco