Developers Extend Payment Plans to Offset Price Increases

• Monday, 28th November 2016
• by Karim Mohy

Amid increases in the prices of construction inputs due to the flotation of the pound, various real estate developers have resorted to different measures in order to compensate the additional costs, with increases in unit prices announced almost universally, while some developers have chosen to offset these price increases by extending installment plan periods.

Orascom Development to Build Residential Project in Senegal

• Monday, 28th November 2016
• by Karim Mohy

Orascom Development Holding will be finalizing an agreement with the Senegalese government to build a new project, similar to the company’s previous project Haram City, according to Samih Sawiris, the company’s CEO.

Micro Castle to Deliver Second Phase of Porto Perla in May 2017

• Monday, 28th November 2016
• by Karim Mohy

Micro Castle Co. for Real Estate Investment will be finalizing the second phase of its Porto Perla project in Alexandria in May 2017.

Housing Ministry Signs Protocol with Real Estate Chamber to Resolve Developers’ Issues

• Sunday, 27th November 2016
• by Karim Mohy

Mostafa Madbouly, Minister of Housing, Utilities, and Urban Communities and Tarek Shoukry, Head of the Chamber of Real Estate Developers at the Federation for Egyptian Industries, signed a cooperation protocol aiming to resolve challenges facing real estate developers.

ARCO Launches Final Phase of Le Reve Development in Kattameya

• Sunday, 27th November 2016
• by Karim Mohy

Al Arabia Real Estate and Development (ARCO) has launched the final phase of its project Le Reve at a total investment cost of EGP 1 bn.

3 Hotel Companies to Manage City Stars Al Sahel

• Sunday, 27th November 2016
• by Karim Mohy

Al Arabia Real Estate and Development (ARCO) has signed contracts with Fairmont Hotels, Raffles Hotels & Resorts, and Swissotel to handle management for City Stars Al Sahel in the North Coast.

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.