Since its inception two years ago, Egypt-based Sorouh Developments registered EGP 2.5 bn worth of sales from its flagship project in the New Administrative Capital (NAC), or "Entrada," over the last two years.
City Edge Developments (CED) has signed a cooperation protocol with Suez Canal Bank to offer more diverse mortgage finance products, in line with the Central Bank of Egypt's (CBE) initiative to boost the field of real estate lending in Egypt.
Sixth of October for Development and Investment Company's (SODIC) gross contracted sales of residential units stood at EGP 1.83 bn in H1 2020, almost flat compared to EGP 1.86 bn in the year-ago period.
Egypt's real estate developer Hassan Allam Properties (HAP) has upped its stake in the Sixth of October for Development and Investment Company (SODIC) to 3.9% from 2.22%.
Fawaz AlHokair Group’s mall development unit Marakez has signed an EGP 670 mn syndicated loan agreement with multiple local banks to finance the execution of phase II of east Cairo's Mall of Katameya.
Emaar Misr for Development saw a 516.7% year-on-year (YoY) surge in net profit to log EGP 581.53 mn in H1 2020, compared to EGP 94.29 m in the year-ago period.
Amer Group's subsidiary Amer for Tourism Development has obtained approval from the New Minya City Authority to scale down the land area allocated for an integrated urban project in the new city.
Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has reviewed the proposed development plan for South Sinai's Saint Catherine city, in an attempt to revive the historical site.
President Abdel-Fattah El-Sisi has directed the Egyptian government to approve the development of several state-run non-profit universities, at a total cost of EGP 30 bn.
The Central Bank of Egypt (CBE) has reported a decline in the country's annual headline inflation to 4.6% in July - the lowest since November, compared to 5.6% last June and 7.8% in the same month a year earlier.
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