News / Developers

Castle Landmark’s 1st Phase is 80% Sold Out: CEO

Castle Development CEO Ahmed Mansour revealed on October 18 that the company has sold 80% of its new capital smart residential compound's first phase, Castle Landmark, with foreign buyers acquiring almost half of the achieved sales

Marakez Pays Off Mall of Arabia’s EGP 2 bn Loan

Marakez for Real Estate Investment, a subsidiary of Saudi Arabia’s Fawaz Alhokair Group, has fully paid off Mall of Arabia's EGP 2 bn credit facility to the Commercial International Bank (CIB) and other banks, "enabling the mall to operate debt free"

SODIC Intends to Acquire At Least 51% of MNHD

Sixth of October for Development and Investment (SODIC) announced its preliminary intentions to submit a mandatory tender offer to acquire at least 51% stake in Egypt’s urban developer Madinet Nasr Housing and Development (MNHD) through a direct share swap (securities swap only)

Hassan Allam Properties Releases New Units in Swanlake El Gouna

Egyptian developer Hassan Allam Properties (HAP) announced on October 14 the launch of new units in its fully integrated community of “Swanlake El Gouna” in Egypt’s Red Sea coast

Marriott International to Expand Its Portfolio in UAE

Marriott International expects to end 2018 with the addition of 11 new properties and over 2,600 guestrooms added to its UAE portfolio, alongside a robust development outlook over the next five years

Misr Italia Properties Unveils 2nd Residential Project in New Capital

Egypt’s property developer Misr Italia Properties has launched its second premium residential compound in the New Administrative Capital, VINCI, offering the utmost elegance and luxury living

Palm Hills, AAIB Conclude EGP 316 mn Discounting Transaction

Egypt-based Palm Hills Developments (PHD) and Arab African International Bank (AAIB) have successfully concluded discounting transaction of EGP 316 mn receivables portfolio linked with 181 delivered units at some of PHD's projects in Cairo

Hassan Allam Holding Plans for Dual Listing in Cairo, London

Egypt's construction and engineering company Hassan Allam Holding revealed on October 8 its intention to float up to 44.3% of its shares on the Egyptian Exchange (EGX) and London Stock Exchange (LSE)

Real Mark Launches EGP 750 mn West Mark

Egypt's integrated real estate company Real Mark Developments made its debut by launching its first mixed-use complex in 6th of October City, West Mark, offering "a new line of thought to office and commercial real estate in Egypt," with investments worth EGP 750 mn

UAE-Based Indian Investor Unveils USD 200 mn Project in Al Marjan Island

UAE-based Indian investor Ivan Richard Menezes, director of United Ventures and Investments Limited, announced purchasing a land on the fourth island of Al Marjan Island to develop a "Santa Monica-style entertainment center" with a total investment value of USD 200 mn

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