Samcrete Records EGP 3.15 mn Profit in Q3 2016

• Monday, 21st November 2016
• by Karim Mohy

Samcrete for Real Estate Development have turned their losses into profits in the third quarter of 2016, recording a total profit of EGP 3.15 mn within three months, compared to last year’s EGP 514,200, according to a financial statement released on Sunday.

CHD Q3 Profits Increase 226% y-o-y

• Monday, 21st November 2016
• by Karim Mohy

Cairo for Housing and Development (CHD) recorded a 266.2% profit increase in the third quarter of 2016, according to a financial statement released on Sunday.

Government Studies Possibility of Compensating Developers

• Monday, 21st November 2016
• by Karim Mohy

Ten different ministries in the Cabinet are studying the possibility of compensating real estate developers for losses incurred due to recent economic decisions, in cooperation with the committee for compensations at the Ministry of Housing, Utilities, and Urban Communities.

AMG to Oversee Green Area Project in 10th of Ramadan City

• Sunday, 20th November 2016
• by Karim Mohy

Amar Consulting Group will supervise the execution of Green Area residential project in the 10th of Ramadan City, at a total investment cost of EGP 120 mn.

Eight Tenders Offered for 97 Housing Units in Upper Egypt

• Sunday, 20th November 2016
• by Karim Mohy

Eight tenders were offered for 97 houses in villages in Assiut, Minya, Sohag and Qena, according to Mohamed Nasser, Head of the Central Agency for Development in the Ministry of Housing, Utilities, and Urban Communities.

Capital Group to Begin Construction for Alburouj First Phase

• Thursday, 17th November 2016
• by Karim Mohy

Capital Group Properties will launch construction in the first phase of their project Alburouj, under the name Acamar, at an investment cost of EGP 40 bn, according to Walid El-Hindi the company’s CEO.

Sodic Q3 2016 Net Profit up 38% y-o-y

• Wednesday, 16th November 2016
• by Karim Mohy

Sixth of October Development and Investment Company (Sodic) has recorded EGP 108 mn in net profit, marking a 38% year-on-year increase in the third quarter of 2016, according to an earnings release from the company on Tuesday.

ERC Records EGP 49.5 mn Revenues in Q3 of 2016

• Tuesday, 15th November 2016
• by Karim Mohy

The Egyptian Resorts Company (ERC) has recorded revenues of EGP 49.5 mn in the third quarter of 2016, compared to last year’s EGP 16.7 mn, according to its latest financial statement.

MNHD to Progress Work on Projects through Bank Loans

• Tuesday, 15th November 2016
• by Karim Mohy

Madinet Nasr for Holding and Development (MNHD) is seeking an EGP 2 bn loan through a banking alliance to implement various projects in the upcoming period, according to Ahmed El Hitamy Managing Director of the company.

Egypt’s Arab Contractors Completes Major Hospital in Kuwait

• Tuesday, 15th November 2016
• by Karim Mohy

Egypt-based Arab Contractors Company has completed the construction of Sheikh Jaber Al-Ahmad Al- Sabah Hospital in Kuwait, considered the world’s sixth largest hospital.