News / Developers

SODIC Opens its First Sales Center in New Cairo

Sixth of October Development and Investment Company (SODIC) has announced opening doors of its very first sales center in New Cairo, directly located on 90 Street, "coming closer to SODIC’s growing client base in east Cairo"

Asteco Introduces Direct Debit Payment Service for UAE Tenants

UAE's property services company Asteco has launched a digital payment service that allows its tenants to pay their rent through direct debit, in a bid to increase efficiency, enhance the ease of doing business, and help customers save time

Porto Group Inks Deal to Develop New Urban Project in Mostakbal City

Egypt's real estate developer Porto Group, a subsidiary of Porto Group Holding, has inked an agreement with El Mostakbal for Urban Development for the establishment of a new integrated urban project in Mostakbal City, "Porto City"

New Women-Only Theme Park Opens in Saudi Arabia

Saudi-based Al Hokair Entertainment, a subsidiary of Al Hokair Group, has announced the opening of AlHokair Time AlAzizyah in Al-Khobar city, a theme park for women only

MNHD Logs Net Profits of EGP 869.1 mn in 9M

Egypt’s urban developer Madinet Nasr Housing and Development (MNHD) posted a consolidated net profit of EGP 869.1 mn for the first nine months of 2018, up 1.3% year-on-year (YoY) from the year-ago period

Orascom Construction Adds USD 520 mn to its Backlog in Q3

Egypt's Orascom Construction revealed on November 5 that it added USD 520 mn of new awards to its backlog in Q3 2018, of which Egypt accounts for about 60% of the new awards, while the US represents the remainder

Egypt’s Orascom Investment Seeks to Acquire 30% of Sarwa Capital

Egypt-based Orascom Investment Holding, formerly Orascom Telecom Media and Technology Holding (OTMT), said it is looking to acquire 30% of Sarwa Capital’s shares in November, particularly due to the deal's attractive price

HDRIC Pumps EGP 700 mn in 6th of October City’s Tala Compound

Housing and Development Real Estate Investment (HDRIC), one of Housing and Development Bank’s (HDB's) companies, has pumped investments of EGP 700 mn in "Tala" project in 6th of October City, intending to deliver the residential compound by mid-2020

Heliopolis Housing to Sell Some Acres in New Heliopolis City

Heliopolis Company for Housing and Development announced on October 24 that it will sell around 30 to 100 acres of land plots in the New Heliopolis City project to be used for residential, commercial, and service purposes

Thumbay Group Eyes Establishing Gulf Medical University in Egypt

UAE-based Thumbay Group seeks to inject investments worth AED 1 bn (roughly EGP 5 bn) via the establishment of a branch of the Gulf Medical University in Egypt

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