New Administrative Capital Company to Float Shares in IPO -Chairman

• Sunday, 27th November 2016
• by Karim Mohy

Up to one third of the shares of the Administrative Capital for Urban Development, the company responsible for building the new administrative capital in East Cairo, will be floated in an upcoming IPO at a date yet to be determined, according to the company’s Chairman Ayman Ismail, speaking at a conference organized by the American Chamber of Commerce in Egypt on Sunday.

El Alamein to be Demarcated as Separate Governorate -Source

• Sunday, 27th November 2016
• by Karim Mohy

The government is planning to demarcate El Alamein as a separate governorate from its current jurisdiction of Matrouh, an unnamed source at the Ministry of Housing, Utilities, and Urban Communities speaking told Invest-Gate.

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.

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.

Housing Ministry Demands More Clout in New Investment Law -Sources

• Thursday, 24th November 2016
• by Karim Mohy

The Ministry of Housing, Utilities, and Urban Communities is seeking to expand its authority in offering lands through the General Authority for Investment and Free Zones (GAFI), as well as a greater role for the New Urban Communities Authority (NUCA) in the upcoming investment law currently being drafted, according to unnamed government sources.

Public Land Auction Today for Coastal Sites

• Wednesday, 23rd November 2016
• by Karim Mohy

A public lottery is set to take place today to allocate 12.5 mn square meters of land in the North Coast, Ain El Sokhna, and South Magawish..

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.

Landlords Discuss Amending Old Rental Law with Parliament

• Tuesday, 22nd November 2016
• by Karim Mohy

Several citizens who own residential units that operate under the old rental law have launched a lobbying group to discuss their issues with the old rental law with parliament.

New Negotiations Commence over Administrative Capital Land Pricing

• Monday, 21st November 2016
• by Karim Mohy

The Ministry of Housing, Utilities, and Urban Communities has begun negotiating with real estate companies over land pricing in the New Administrative Capital, in efforts to sell the first phase of the city after re-pricing it in accordance with the previously announced 25% discount.

600 Social Housing Units to be Built in Badr City

• Sunday, 20th November 2016
• by Karim Mohy

The New Urban Communities Authority (NUCA) has offered tenders for 600 residential units to Cairo Building Maintenance & Decoration Co. LLC, in efforts to complete the second phase of the social housing project located in Badr City.