News / Developers

Aldar, Apparel Group Seal 23 Lease Store Contracts

Aldar Properties, Abu Dhabi’s leading property development, management, and investment firm, has sealed a major deal with global fashion and lifestyle retail conglomerate Apparel Group, regarding 23 stores across three of the former’s popular retail malls in the UAE.

Misr Italia to Pump EGP 50 bn into Projects by Year-End

Chairman of Misr Italia Properties Hany Al Assal has revealed that the company plans to pump a total of EGP 50 bn into the real estate market in 2019, aiming to achieve a sales target of EGP 6 bn from its various projects in Egypt by year-end.

Emaar Misr Completes Delivery of Beyout El Kheir Phase I

Emaar Misr and Misr El Kheir Foundation have announced the delivery of the first phase of Beyout El Kheir project (Homes of Generosity) on June 18, covering Matrouh, Beheria, Aswan, and Qena provinces.

Abdul Latif Jameel Starts Work on Jeddah’s Dari Q

KSA-based residential and commercial real estate developer Abdul Latif Jameel Land has broken ground on its third Jeddah-based residential complex, Dari Q, mingling a variety of spacious apartments with a diverse range of amenities in one place

Marakez to Open Largest Mall in Delta Region Next Fall

Marakez for Real Estate Investment, a subsidiary of Saudi Arabia’s Fawaz Alhokair Group, plans to launch Gharbia Governorate’s first internationally-modeled shopping complex, Mall of Tanta, in fall 2019.

Heliopolis Housing Auctions EGP 66.7 mn Plots in Sheraton

Heliopolis Company for Housing and Development (HHD) auctioned on June 17 eight plots in Sheraton, Heliopolis, amounted at EGP 66.7 mn, as part of the company’s scheme to sell part its land portfolio to finance its investment plan and cut its debt.

ODE Sells 87% Tamweel Group Stake to Ebtikar-Led Consortia

Orascom Development Egypt (ODE), the largest subsidiary of Orascom Development Holding in Egypt, has sold its entire stake in Tamweel Group, representing 87% of the company, to a consortium led by Ebtikar for Financial Investment, at a total value of CHF 20 mn (nearly EGP 360 mn).

EMPC Intends to Acquire 55.3% Stake in Arabia Investment

State-run Egyptian Media Production City’s (EMPC) board has greenlit talks to acquire a 55.3% stake in Mövenpick Hotel Cairo-Media City of Arabia Investment and Tourist Development, a subsidiary of Arabia Group, from Arab Contractors and three other affiliates.

Royal Uncovers EGP 500 mn Capital Prime in NAC

Egypt’s Royal for Real Estate Development has uncovered establishing a mixed-use project in the New Administrative Capital (NAC), dubbed "Capital Prime," with investments worth EGP 500 mn.

ODE Signs EGP 3.8 bn Debt Rescheduling Package with Egyptian Banks

Orascom Development Egypt (ODE), the largest subsidiary of Orascom Development Holding in Egypt, has signed CHF 228.1 mn (nearly EGP 3.82 bn) debt rescheduling package, a step coming to boost the company's balance sheet and generate more flexibility in growing its projects.

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