2,000 Social Housing Units to be Implemented in New Qena City

• Wednesday, 30th November 2016
• by Karim Mohy

A total of 2,000 social housing units will be developed in New Qena City at a total cost of EGP 290 mn by Al Khalifa Housing for Real Estate Investment and the Assiut Businessmen's Association, according Ahmed Arafa, head of the New Qena Authority.

Madbouly Approves Extending Project Deadlines for Contractors

• Wednesday, 30th November 2016
• by Karim Mohy

Minister of Housing, Utilities, and Urban Communities Mostafa Madbouly approved extending project deadlines for contractors working on state projects for three months, and six months for projects involving electromechanical equipment, according to Hassan Abdel Aziz Chairman of the Egyptian Federation for Construction and Building Contractors.

Contractors to be Compensated for Losses on State Projects

• Tuesday, 29th November 2016
• by Karim Mohy

The Egyptian Federation for Construction and Building Contractors has reached agreements with official bodies to compensate contractors for losses incurred due to the increase in prices of building materials following the flotation of the local currency, according to Hassan Abdel Aziz head of the Federation.

Wednesday Marks Last Day to Reserve Social Housing Units for Rent

• Tuesday, 29th November 2016
• by Karim Mohy

Around 6,800 applicants have reserved social housing units that are offered for rent, as the deadline for reserving these units is next Wednesday, according to Minister of Housing, Utilities, and Urban Communities Mostafa Madbouly.

New Residential Compound to be Launched in New Nubaria

• Tuesday, 29th November 2016
• by Karim Mohy

A new residential compound is expected to be launched in New Nubaria City at a total investment cost of EGP 50 mn, according to Mahmoud El Nagdy, Head of the New Nubaria City Authority.

Recent Economic Decisions to Benefit the Real Estate Sector -Coldwell Banker

• Tuesday, 29th November 2016
• by Karim Mohy

Several factors are expected to contribute to growth of real estate sector, such as the upcoming International Monetary Fund (IMF) loan, the flotation of the pound, and the Cabinet’s economic reform program, according to Coldwell Banker Chairman Mohamed Abdullah.

CBE Announces Unified Conditions for Real Estate Financing

• Monday, 28th November 2016
• by Karim Mohy

The Central Bank of Egypt (CBE) has announced unified conditions that banks should abide by when providing real estate financing for citizens with limited incomes, according to a statement released by the CBE.

Madbouly: NUCA’s Investment Budget for 2016 Registers EGP 37 bn

• Sunday, 27th November 2016
• by Karim Mohy

The investment budget of the New Urban Communities Authority (NUCA) has grown from EGP 5 bn for 2013/2014 to EGP 6 bn at the end of 2014 to EGP 37 bn for 2016, according to Minister of Housing, Utilities, and Urban Communities Mostafa Madbouly speaking at a conference held by the American Chamber of Commerce in Egypt on Sunday dubbed “Sustaining the Real Estate Industry in Egypt”.

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.