News / Egypt

OUD Hits EGP 100 mn Sales at Nile Property Expo

Egypt-based Orientals for Urban Development (OUD) announced that it achieved over EGP 100 bn sales at Nile property Expo, held in Riyadh on February 9 to 11, Invest-Gate reports.

Egyptian Property Market Sees Roller Coaster Ride in 2019: JLL

US-based commercial real estate services firm JLL unveiled that the Egyptian market experienced a “roller coaster ride” last year, with a wide range of “booms and busts” being addressed by the government in line with Egypt Vision 2030

Egypt to See Further Branded Residential Schemes: Colliers

Colliers International revealed that Egypt currently has a small number of branded residential schemes, yet further developments are in the pipeline

SODIC Records EGP 7.3 bn Contracted Sales in 2019

Sixth of October for Development and Investment Company (SODIC) has recorded contracted sales of EGP 7.3 bn in 2019, with a growth of 32% year-on-year (YoY)

VOW Developments Targets EGP 500 mn in Sales of SOLAS This Year

VOW Developments aims to achieve EGP 500 mn in sales of its SOLAS administrative project in the New Administrative Capital (NAC) in 2020.

MIPIM Postponed to June Due to Coronavirus

MIPIM 2020 property fair, set to take place in Cannes on March 10-13, is pushed to June 2-5 due to the growing concern related to Coronavirus (Covid-19)

Gov’t Extends Deadline for Applicants of Units in New Cities

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar announced a two-month extension period for applicants who applied for the residential units previously provided in a number of new cities to complete or update the required data

CBE Doubles Mortgages Share of Banks’ Lending Portfolio

The Central Bank of Egypt (CBE) released a regulation doubling mortgages up to 10% of commercial banks’ lending portfolios, up from the previous 5%, Invest-Gate reports.

New Aswan City Sees Over 7,000 Units Finished: Official

Deputy of Minister of Housing, Utilities, and Urban Communities for National projects Khaled Abbas said that a total of 7,056 fully-finished social housing units, out of the planned 8,064, are completed, in New Aswan city, Invest-Gate reports.

TMG to Establish 5-Star Hotel in Luxor

The Arab Company for Hotel & Tourism Investment (ICON), a subsidiary of Talaat Mostafa Group (TMG), and the Egyptian General Company for Tourism and Hotels (EGOTH) have inked a deal to establish a 5-star hotel on Sultana Malak land in Luxor, Invest-Gate reports.

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