Samih Sawiris: Real Estate Sector Could be Heading Toward Bubble

• Sunday, 27th November 2016
• by Karim Mohy

Due to the current decline in purchasing power amid the depreciation of local currency and a large supply, the Egyptian real estate market could potentially be heading towards a bubble, Chairman of Orascom Development Holding Samih Sawiris said.

Rowad Tourism Losses Continue in Q3 2016

• Thursday, 24th November 2016
• by Karim Mohy

Rowad Tourism Company recorded a net loss of EGP 391,000 in the third quarter of 2016, compared to a loss of EGP 1.5 mn in the same period last year, according to the company’s statement to the EGX.

El Batal to Build 2 Residential Complexes in New Cairo

• Thursday, 24th November 2016
• by Karim Mohy

El Batal Group will launch two residential projects at an investment cost over EGP 1.3 bn in New Cairo.

Palm Hills New Cairo Units Phase 1 Sell Out for EGP 1.01 bn

• Wednesday, 23rd November 2016
• by Karim Mohy

Palm Hills Development sold 100% of the 157 standalone units from its Palm Hills New Cairo project, developed in partnership with the New Urban Communities Authority (NUCA), for a total of EGP 1.01 bn in sales revenue.

Porto Group to Deliver Contracted Units in 2017 without Price Increases

• Wednesday, 23rd November 2016
• by Karim Mohy

Porto Group will deliver its remaining contracted units by the end of 2017 without demanding any additional costs.

Mountain View Sells Units in iCity for EGP 4 bn

• Wednesday, 23rd November 2016
• by Karim Mohy

Mountain View for Real Estate recorded EGP 4 bn in sales from the first and the second phase of its iCity development in New Cairo.

Capital Group to Develop Smart Village in Alburouj

• Wednesday, 23rd November 2016
• by Karim Mohy

Capital Group Properties (CGP) has signed a MOU with Smart Villages company to build a smart village in its new project Alburouj, at a cost of EGP 1 bn in Shorouk City, according to a company statement.

Real Estate Sector Struggles Under Current Mortgage Law

• Tuesday, 22nd November 2016
• by Karim Mohy

As the Egyptian government attempts to tackle the country’s affordable housing shortage, a number of officials and developers have put forth solutions to existing problems, reported Daily News Egypt.

Heliopolis Housing Appoints Consultants to Create Master Plan for Helio Park

• Tuesday, 22nd November 2016
• by Karim Mohy

Heliopolis Housing & Development (HHD) appointed Associated Consultants to draw up the master plan for its new 7.14 mn square meter project Helio Park

Palmier to Construct Resort in Matrouh

• Tuesday, 22nd November 2016
• by Karim Mohy

Palmier Real Estate Investment & Project Management will construct a resort in Matrouh governorate, measuring 10 acres with a total investment cost of EGP 140 mn, according to Mohamed Abdel Aziz, the company’s Chairman.