News / Developers
Orascom Construction Records EGP 204.4 M in Net Profit in Q1
Orascom Construction announced a net profit of EGP 204.4 million in the first quarter (Q1) of 2016, in comparison to EGP 51.5 million for Q1 2015.
MNHD Registers 176% Hike in Revenue
Madinet Nasr Housing and Development’s (MNHD) announced its financial results for the first quarter (Q1) of 2016, stating a revenue of EGP 169.7 million for the period, and recording an increase of 176% in comparison to that of Q1 2015.
Porto Group Hits EGP 191M in Revenues in Q1 2016
Porto Group announced its consolidated revenue for the first quarter (Q1) of 2016, achieving a gross profit of EGP 68 million with a gross profit margin of 36%.
Palm Hills to invest EGP 2B in 2016
Palm Hills is planning to invest EGP 2 billion ($225 million) within the current year.
UAE’s CGP Announced Tender for Construction of Alburouj Project
Capital Group Properties (CGP), a real estate development company owned by Abu Dhabi Capital Group (ADCG) and Al Ain properties, has announced a tender for the construction of the first phase of its latest project Alburouj.
Palm Hills Plans to Establish a Base in Dubai
Palm Hills Development (PHD), an Egyptian real estate developer, is planning to open a company in Dubai, reported The National.
Orascom Construction to Borrow EGP 800 M from OFID
Orascom Construction Industries (OCI) is about to secure a loan worth up to EGP 800 million ($90 million) from OPEC Fund for International Development (OFID) and the European Bank for Reconstruction and Development (EBRD), according to Al Mal News. SWA to Finalize Plans for 500 Acre Project
SWA, an international landscape architecture company, will finish development plans for a 500-acre project in New Cairo in June before the project’s introduction to the market in final quarter of 2016, said Yasseen Mansour, Palm Hills Chairperson, to Daily News Egypt.
