Latest in Tag: Construction Highlight
Latest in Tag: Construction
2% growth in construction sector: Gleeds Construction Consultancy
Sector growth remains despite rise in prices of cement, concrete and steel
Al-Sisi voices willingness to visit Ethiopia up to 3 times to resolve dam issue
Egypt’s water minister arrives in Sudan to attend tripartite talks held to address issues surrounding the Grand Ethiopian Renaissance Dam
Negotiations will start where they left off: Water minister
The minister has left Egypt for Sudan to attend tripartite talks on the Grand Ethiopian Renaissance Dam
CEO of Dubai’s Arabtec resigns
On 9 March, the armed forces, in cooperation with UAE’s Arabtec Construction Company announced plans to construct 1 million residential units for low-income youth.
5.14% year on year decline in construction spending: CAPMAS
Unstable economic situation in Egypt the main reason behind decrease in construction projects in 2012/2013, says agency
Correction: SODIC registers EGP 477m net loss in 2013
The Daily News Egypt reported yesterday that real estate company Sixth of October Development and Investment (SODIC) reported a net profit of 229m, however, 2013 actually ended with a net loss of EGP 447m. “The company actually made a net loss. This [229m net profit] would have been the figures if not for the take-offs,” …
Arab Contractors to complete 138 projects by June: Housing ministry
Projects involve construction of roads, bridges, housing and water and sanitation stations
Egypt’s real estate market to recover in late 2014 and 2015: Jones Lang LaSalle
The international firm attributed the recovery to positive economic moves in Q1 2014
Cabinet tackles energy, construction issues; investor disputes
Cabinet approves investor settlement and petroleum agreements, allocates money for electricity and construction
Economic improvements reflect positively on real estate: Jones Lang LaSalle
Supply for residential and retail units rose during Q4 2013, says real estate firm
SODIC registers EGP 2.7bn sales revenues in 2013
Construction company aiming to invest EGP 1bn in 2014
Orascom Construction awarded $300m contracts in Egypt and KSA
OC expected to collaborate on new projects with Emaar Misr and Palm Hills Development
Obstacles facing construction firms resolved: Abdel Nour
Construction company documents will be stamped with official government seal to facilitate their entry to the international market
Political turmoil’s affect on construction market is limited: Gleeds
Gleeds Construction Consultancy Egypt’s quarterly report highlights impact of recent political upheaval on economic sectors.
Construction sector gaining momentum
Several construction companies register profit despite Egypt’s ailing economy
Economic instability affects construction sector: report
Gleeds Construction Consultancy Egypt says devaluation of the local currency is likely to take its toll on the sector
Re-investment in Africa a ‘high priority’: Housing Ministry
Malhab said he would work hard to support and encourage the opening up of African markets to Egyptian contracting companies, whether public or private, in particular the Arab Contractors company.
High prices cripple the construction sector
Rising cost of materials and devaluing currency important factors affecting the industry
Ancient Heliopolis under threat
Caesar Augustus sent the obelisks from Heliopolis to Alexandria, from where they were moved to Rome, Paris and New York. This was the beginning of the looting of the ancient site of Heliopolis, a process that has continued to this day.
New real estate construction in 6th of October City
Wadi El Nile Company for Agricultural Development to begin real estate project on 922 acres of land
EGP 5 billion promised for Cairo Gate development
Real estate giants Emaar and Al-Futtaim join forces for lifestyle and entertainment mega-project
Egypt denies plans to strike Ethiopian dam
Allegations described as completely false
France lends Egypt €940 million to complete third metro line
By: Hend El-Behary The French Development Agency (FDA) along with the European Investment Bank have granted Egypt a soft loan of €940 million for the construction and development of phase three of the third Cairo underground line, stated the Ministry of Planning and International Cooperation (MPIC). Minister Ashraf Al-Araby of the MPIC, in the presence …
OCI Fertilisers demerger to come
Orascom for Construction Industries (OCI) announced yesterday that the General Authority of Investment and Free Zones (GAIF) approved OCI’s proposed valuation split methodology for the demerger of its construction group from its fertilisers group. GAIF approved on Saturday to split OCI’s standalone assets and liabilities on book value basis as at 31 December 2011, an …
National Holding Company invests EGP 1.3 billion in Arab Countries
By Islam Serour The National Holding Company reported Saturday the contract values for its two affiliated companies, El-Nasr Company for Contractors and the Egyptian Contractors Company, amounted to EGP 1.363 billion in Arab countries, during the 2011-2012 fiscal year. According to the Holding company’s report, El-Nasr’s contracts in Sudan are valued at EGP 288.961 million. …
Banks regain confidence in construction materials market
It is expected that banks largely invest in construction materials during the coming period
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.
Orascom Construction Q4 net falls more than expected
By Tom Pfeiffer / Reuters CAIRO: Egyptian group Orascom Construction reported a 34 percent drop in quarterly net income, missing expectations after being hit by debt restructuring and other charges. The company’s shares gained 2.6 percent as analysts welcomed its construction backlog, which continued growing at the end of a year of major economic disruption in …