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.

DMA, CallisonRTKL Launch Strategic Partnership to Manage New Cities

• Sunday, 6th November 2016
• by Karim Mohy

Dar Al-Mimar Architects (DMA) has signed a strategic partnership agreement with with CallisonRTKL, a global management company, to manage smart cities and undertake smart urban development.

Sodic Predicts Delivery of 900 Units, 15% Price Increase Next Year

• Thursday, 3rd November 2016
• by Karim Mohy

Sodic projects that it will deliver 900 residential units by the end of the year, and that property prices will increase by 15%, but that this will not impact stable demand on real estate in the market.

Sodic Appoints US-based Sasaki for East Cairo Project Master Plan

• Wednesday, 2nd November 2016
• by Karim Mohy

Sodic has assigned US-based design firm Sasaki to develop the master plan for its new project in east Cairo, set to be built on 655 acres.