Majid Al Futtaim Plans to Install 600 VOX Cinema Screens Across ME by 2020
Tuesday, 21st March 2017
Majid Al Futtaim, a leading retail and leisure pioneer in the Middle East, is allocating AED 1 bn (USD 270 mn) for installing 600 VOX cinema screens across different locations in the Arab and Middle East region by 2020, Invest-Gate reports.
PHD to develop newly acquired land, 6 October
Sunday, 22nd January 2017
Palm Hills Development PHD acquired 190 acres of land from the Egyptian Ministry of Housing located adjacent to the Company's existing developments in West Cairo, including Palm Hills Golf Views and Golf Extension
Public Transportation to be Increased, 6th of October City
Tuesday, 17th January 2017
With around 95 thousand social housing units due for delivery in the second half of the current year, the Public Transport Authority is to increase public transport lines in 6th October City, Invest-Gate reports.
Citizens to Transfer to Social Housing in New Cities Until 15th of February
Sunday, 15th January 2017
The Ministry of Housing, Utilities, and Urban Development permits applicants of its eighth offering of social housing units located in Giza, Qaliubya, Alexandria, and Sharqiya, transfers to new cities within their governorates starting today and until February 15, according to Minister of Housing, Utilities, and Urban Development Mostafa Madbouly, Invest-Gate reports.
Egyptian Government to Adjust Building Contract Prices
Sunday, 1st January 2017
The Egyptian Cabinet has approved on adjusting prices of contracts for the implementation of 75,000 social housing units in 6th of October City, Badr City, and Obour City, to be revalued at EGP 145,000 per unit.
Public Lottery Announced to Distribute 2,654 Land Plots in Badr City
Sunday, 27th November 2016
A public lottery will take place Sunday at the Arab Contractors Stadium to allocate 2,654 land plots located in Badr City as part of the scheme for allocating 16,400 land plots in eight new cities.
Land Plots in New Cities to be Offered through Lottery Starting 17 November
Sunday, 13th November 2016
Land plots for luxury housing projects in the New Cities will be offered through a series of public lotteries starting on Thursday, November 17, according to Mostafa Madbouly, Minister of Housing, Utilities, and Urban Communities..
Developers fear Government Competition in Real Estate Market -Sources
Wednesday, 9th November 2016
Small and medium-sized real estate companies are reportedly growing concerned following the Housing Ministry’s offering of units at an unsubsidized cost of EGP 198,000, which will result in taking away a huge number of a buyers from a certain class from developers.
Palm Hills Q3 Net Profit Up 59% y-o-y, Negotiating with NUCA for 6th of October City Land
Monday, 7th November 2016
Palm Hills announced its financial results for the third quarter of 2016 in a statement, reporting net profit after tax and minority interest of EGP 235 mn, up 59% year-on-year, exceeding the first two quarters of the year combined. Quarterly revenue was up 34% year-on-year to EGP 1.5 bn.
Deadline on Applications for Dar Misr Phase I and II Units Closes Today
Sunday, 30th October 2016
Today marks deadline set by the Ministry of Housing, Utilities, and Urban Communities’ for applicants seeking to reserve one of 10,616 remaining units that were previously offered in the first and second phase of the Dar Misr program, according to a statement from the ministry.
The Westown HUB- Sodic
Monday, 6th February 2017
Sixth of October Development and Investment Company (SODIC) develops, sells and leases properties in Egypt and has been an industry leader for almost twenty years and has expanded well past 6th of October City in West Cairo to include developments in East Cairo as well as the North Coast . Listed on the Egyptian stock exchange, and operates in four key segments: residential, commercial, retail and hospitality. The company sits on an undeveloped landbank of 5.5 mn square meters, which it projects would produce sales of EGP 45-50 bn. The company divides its developments geographically by SODIC West and SODIC East. SODIC West includes Allegria, Westown, Forty West, The Polygon, Westown Hub, Beverly Hills, Casa, The Courtyard Westown, The Strip and Westown Medical Centre. Under the umbrella of SODIC East is Eastown, Eastown Parks, Kattameya Plaza and Villette New Cairo. SODIC also has a development along Egypt’s North Coast dubbed Caesar.
Ideally located in the heart of Westown, the Hub boasts some of Cairo’s finest restaurants and cafés as well as diverse services and sports outlets and a- 2000- square meter indoor/outdoor dedicated children space, making it the go-to destination for the whole family. Westown Hub is comprised of almost 16,000 square meters of built up area offering over 47 different eateries and entertainment venues uniquely designed on multi tiers surrounding a lively piazza.
Four anchor stores
Large public Central Piazza 3,500 square meters
Large children’s play area 3,500 square meters
Roof decks & balconies
Dancing fountain & water features