Latest in Real Estate Highlight
Latest in Real Estate
Cityscape exhibition hoped to raise profile of real estate sector
Participation of real estate development companies to demonstrate the durability of Egypt’s economy
Twenty-three contracting companies compete to establish 1,880 housing units in Aswan
This project includes 94 buildings to be auctioned off in 6 separate bids
Egyptians invest EGP 1.4bn in Dubai real estate last year
Demand for real estate projects in the Emirate is set to increase at a faster rate than supply during the coming year, say experts
Misr Real Estate Assets buys land worth EGP 300m from NBE and Banque Misr
By Asmaa Nabil Misr Real Estate Assets (MREA) has purchased 27.3 thousand metres of land from the National Bank of Egypt (NBE) and Banque Misr, valued at EGP 300 million. An official at Banque Misr said that MREA won the auction held last month for the two plots of land as part of plan to …
Real estate companies on involuntary Ramadan hiatus
By Hamada Ismail With Ramadan falling during the summer this year, real estate companies are on hiatus, reorganising their plans and evaluating their accomplishments. Before Ramadan, 5 real estate expos were held, extending over 24 days. However, results disappointed companies and didn’t satisfy participants, given decreased client participation and weakened sales. Sales were expected to …
Emirati real estate investment firm considers Egyptian market re-entry
By Mohamed Darwish Amlak, a real estate investment company based in the United Arab Emirates (UAE) is in the processof studying the possibility of entering the Egyptian real estate market by developing 10 acres that it owns in Nasr City. Hatem Amer, the CEO of Amlak Egypt, said that the company is still scrutinising the …
Real estate companies adapt to summer’s Ramadan
Real estate companies are extending their offers to include the holy month as growth in property continues
Real estate companies adapt as Ramadan falls in their highest season
By Hamada Ismail Real estate companies extended their promotional offers to include the month of Ramadan in an attempt to support the relative growth the sector has experienced during the last several months. The offers included extended financing periods, lowered down payments, discounts for up-front payments, and gifts such as furniture. Traders in the sector …
FJP takes a shot at fixing slums
By Mohamed Darwish Solving the problem of slums located all over Cairo is part of President Mohamed Morsy’s first-100-days presidential programme. He has stressed that housing is among the fundamental rights of Egyptians and that the state must remove obstacles to guaranteeing housing for every citizen. Dr Abolfotouh Shanan, a professor of planning and one …
Real estate market in initial recovery
Successful presidential elections have reinvigorated the real estate market but it may be temporary
Tameer Real Estate to erect new compound
Real estate company committed to development in the Fifth Settlement in New Cairo
Shorouk City to offer 100 acres for bidding, starting 2013
By Badawy Shalaby Abdelmoteleb Mamdouh, head of the El-Shorouk City administration, announced that the city will make 100 acres available for investors at the beginning of next year. The land is suitable for all commercial or educational purposes. Mamdouh said that the plots will range from 8,400 square metres to five acres. The city will …
Al-Khabir’s director forecasts revival of real estate market
By Badawy Shalaby Mohamed Saad, director of the Al-Khabir Company for Investment and Real Estate, predicted that confidence will return to the real estate market in the coming period after a period of downturn, expressing hope that the current period of political stability will lead to a full recovery. He said that the Egyptian real …
Housing projects frozen in anticipation of incoming government
Housing Ministry decided to freeze projects amidst a state of anticipation that has filled the Ministry in expectation of the incoming government
Landscapers complain of collapsed demand after the revolution
Seventy percent decrease in raw material imports in 2011
New Minya offers lands to investors
The New Minya City Administration is preparing to offer several pieces of land designated for residential, commercial and leisure purposes in a sealed-envelope public auction next month.
Egp 200m sought for malls projects
The Ziad Company for Real Estate is seeking to make EGP 200m in sales from the Haram Plaza and Pyramiza Malls in Giza. The director of the Ziad Company for Real Estate, Ziad Abul Hagag, said that his company is marketing the Ha- ram Plaza mall in Giza, a 5-floor, 800 me- ter complex. He …
84 feddan for industrial investment in Nahda
By Badawy Shalaby Engineer Mufeed Shawqy Cairo Governorate Director of Investment, confirmed that the preparation of 84 feddan in the Nahda area for investment is underway, as is the process of drawing the plot’s borders with the armed forces’ Military Factory 18 and the Qalyubia Governorate authorities. Shawqi noted that the land is des- ignated for …
Egp 200m sought for malls projects
The Ziad Company for Real Estate is seeking to make EGP 200m in sales from the Haram Plaza and Pyramiza Malls in Giza.
Islamic financing to expand
Managing Director of Taamir Mortgage Company to Daily News Egypt: The company will be ready to offer Islamic financing in the second half of the current year
Myspace rolls out redesign, targets ‘Generation Y’
WASHINGTON: Social network pioneer Myspace unveiled a redesign on Wednesday targeting the "Generation Y" younger audience as it seeks to regain ground lost to Facebook. Myspace, which Rupert Murdoch’s News Corp. bought for 580 million dollars in 2005, said its new website and products are intended to "redefine the company as a social entertainment destination …
Google giving away Google TV devices to developers
WASHINGTON: Google, in a bid to promote and improve Google TV, which seeks to merge television and the Internet, is giving away 10,000 of the devices to developers. Amanda Surya of Google TV’s developer relations team said Google gave away more than 3,000 Google TV devices at a developer’s conference being held this week by …
NM spaceport sets stage for commercial space race
UPHAM: British tycoon Richard Branson has dreamed of going to space since he was a teenager. He’ll get his wish when Virgin Galactic begins taking tourists into suborbital space from a specially designed spaceport in the New Mexico desert. Gov. Bill Richardson, a longtime space buff, remembers when astronaut Alan Shepard first reached space and …
Companies fight to keep global warming data secret
WASHINGTON – Some of the country’s largest emitters of heat-trapping gases, including businesses that publicly support efforts to curb global warming, don’t want the public knowing exactly how much they pollute. Oil producers and refiners, along with manufacturers of steel, aluminum and even home appliances, are fighting a proposal by the Environmental Protection Agency that …
Oman’s Raysut Cement to buy UAE firm
DUBAI: Raysut Cement, Oman’s largest cement producer by market value will buy the United Arab Emirates’ Pioneer Cement Industries, the company said in a statement on the Omani bourse on Thursday. Raysut’s chief financial officer said on Sunday the company was holding acquisition talks with several companies and was expecting to reach a deal within …
Change global economic model to save biodiversity
MANILA: The global economy must be radically altered to put a value on forests, reefs and other elements of nature but the financial benefits of doing so will be enormous, a UN-backed report said Wednesday. The Economics of Ecosystems and Biodiversity (TEEB) report warned that allowing nature to remain unaccounted for within the economy would …
Apple looks to iPhone, iPad for Mac inspiration
CUPERTINO: Apple’s iPhone and iPads have been such hits that the company is now looking for ways to bring some of their cachet to its laptops and desktops. Apple Inc. offered glimpses on Wednesday of an updated Mac operating system, called Mac OS X Lion. The company highlighted features that borrow from the lighter-weight iOS …
After 500 years Bolivian silver mountain risks collapse
POTOSI: The mountain holding one of the world’s greatest silver deposits is at risk of collapse after five centuries of exploitation, Bolivian officials say, calling for moves to save the historic site. "It looks like an hour glass that is slowly sinking," said Celestino Condori, president of the civil committee of Potosi, an organization dedicated …
Astronomers say they’ve found oldest galaxy so far
WASHINGTON: Astronomers believe they’ve found the oldest thing they’ve ever seen in the universe: It’s a galaxy far, far away from a time long, long ago. Hidden in a Hubble Space Telescope photo released earlier this year is a small smudge of light that European astronomers now calculate is a galaxy from 13.1 billion years …
US announces massive arms sale to Saudi Arabia
WASHINGTON: In its biggest arms deal ever, the United States announced Wednesday it will sell up to 60 billion dollars worth of warplanes, helicopters and other weapons to Saudi Arabia, partly to help it counter Iran. The plan allows for the sale of 84 F-15 fighter jets, 70 Apache attack helicopters, 72 tactical Black Hawk …