Heliopolis Housing Records Sales of EGP 25.4 mn in October

• Wednesday, 9th November 2016
• by Karim Mohy

Heliopolis for Housing and Development’s three projects, in the Sheraton neighborhood in Heliopolis, in Obour City, and in New Heliopolis City, have recorded total sales of EGP 25.4 mn in October.

Administrative Court Rejects Qatari Diar’s Lawsuit to Cancel Sinai Project

• Wednesday, 9th November 2016
• by Karim Mohy

The Administrative Court has rejected an appeal lodged by Qatari Diar to cancel its 30 mn square meter project in Sinai.

Al-Futtaim to Invest EGP 3 bn in Developments in Egypt

• Wednesday, 9th November 2016
• by Karim Mohy

Dubai-based developer Al-Futtaim Group plans to invest EGP 3 bn to complete its projects in Egypt, including its Oriana development in New Cairo which will alone receive EGP 1 bn in investment, according to Managing Director Mohamed El Mikawi.

Emaar Misr Records 9M 2016 Net Profits of EGP 1.0 bn

• Tuesday, 8th November 2016
• by Karim Mohy

Emaar Misr recorded net profits of approximately EGP 1.0 bn in the first nine months of 2016, compared to about EGP 745 mn during the same period last year, marking an approximate 43% year-on-year increase.

MHND Launches Sarai Compound in New Cairo

• Tuesday, 8th November 2016
• by Karim Mohy

Madinet Nasr for Housing & Development Holding (MNHD) has announced sales of the first phase in the its new residential compound, Sarai, located in Nasr City.

Al-Futtaim to Build 2 New Hotels in Cairo Festival City

• Tuesday, 8th November 2016
• by Karim Mohy

UAE-based Al-Futtaim will be constructing two new hotels in Cairo Festival City Mall in New Cairo.

Palm Hills Q3 Net Profit Up 59% y-o-y, Negotiating with NUCA for 6th of October City Land

• Monday, 7th November 2016
• by Karim Mohy

Palm Hills announced its financial results for the third quarter of 2016 in a statement, reporting net profit after tax and minority interest of EGP 235 mn, up 59% year-on-year, exceeding the first two quarters of the year combined. Quarterly revenue was up 34% year-on-year to EGP 1.5 bn.

Dispute Between Qatari Diar and Egyptian Government Ongoing

• Monday, 7th November 2016
• by Karim Mohy

Qatari Diar is not entitled to resort to international arbitration against Egypt, unnamed sources told Shorouk News, following previous reports that the Qatari company would resort to international arbitration in an ongoing dispute over a New Cairo project.

New Residential Projects Planned in Upper Egypt

• Monday, 7th November 2016
• by Karim Mohy

Ardic for Real Estate Development (Zizinia) has requested land plots in the cities of Upper Egypt that are operated by the New Urban Communities Authority (NUCA) to develop a new residential project with facilities.

AqarMap: 4% Increase in Demand on Real Estate

• Sunday, 6th November 2016
• by Karim Mohy

A high demand on buying properties was recorded in the Egyptian real estate market in October, marking a 4% monthly increase, according to statistics from AqarMap.