News / Developers

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.

Emaar Hospitality Presents Premium Lifestyle Hotel in Dubai

Emaar Hospitality Group, the hospitality and leisure arm of global developer Emaar Properties, presented on June 13 its latest 160-room premium lifestyle hotel in Dubai's Emirates Hills neighborhood, Vida Emirates Hills.

Gov’t to Pass Heliopolis Housing Management to Private Investor

Egypt's Ministry of Public Enterprise Sector and Holding Company for Construction and Development have given principal approval to pass management of Heliopolis Company for Housing and Development (HHD) to a strategic real estate investor.

ERC Uncovers 5th Tourism Project in Sahl Hasheesh

Egyptian Resorts Company (ERC) has launched its latest EGP 52 mn tourism project, Bay Condos, through its subsidiary, Sahl Hasheesh for Touristic Investment, shortly after it unveiled Bay Village compound last September for both locals and foreigners seeking to invest in the country’s second-home market.

Jumeirah Group to Expand MICE Services in Abu Dhabi Resorts

Dubai-based luxury hotel brand Jumeirah Group has announced plans to integrate its diverse meetings, incentives, conferences, and events (MICE) offerings into its new hotel portfolio in Abu Dhabi.

Palm Hills’ Sales Inch Up to EGP 2.2 bn in Q1

Egypt’s Palm Hills Developments (PHD) posted EGP 2.2 bn sales (residential and commercial) in Q1 2019, with 374 units sold in total, marking a 5% surge YoY that arisen notably from continued uptake of launched properties in Palm Hills Alexandria.

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