News / Egypt

Elsewedy Electric Among Forbes’ 100 Top Mideast Companies in 2020

Egypt-based Elsewedy Electric has been recognized among the top 100 companies in the Middle East by Forbes, due to its sector-based contribution to significantly boost local economic growth.

SODIC Sees 25% Rise in Home Sales Albeit Fewer Releases

Sixth of October Development and Investment Company (SODIC) logged a 25% uptick in residential contractual sales in Q1 2020, registering EGP 842 mn versus EGP 672 mn in the year-ago period, driven mainly by its west Cairo projects.

Cost-Effectiveness & Affordability Meet at Housing Clusters: Shalaby

Tatweer Misr President & CEO Ahmed Shalaby has confirmed that the development of interconnected rooftop amenities within clusters of buildings, providing essential facilities and services, is a strong tactic to ensure cost-effectiveness and affordability.

Invest-Gate Wraps Up Recommendations for ‘New Real Estate Product’ VRT

Invest-Gate concluded its second virtual roundtable on June 15, called the “New Real Estate Product," and crowned it with success after marking a new era of bulletproof development, fully responding to consumer needs and, most importantly, laying out the ultimate “new normal” playbook on leading brick-and-mortar businesses through the crisis and beyond.

Sales of Offices & Commercial Spaces to Drop Due to Crisis: Ezz El-Din

Al Futtaim Group Real Estate Managing Director Ashraf Ezz El-Din said sales of administrative/commercial spaces will drop in the coming period, due to an upward trend for leasing to have the flexibility of changing spaces whenever necessary.

Al Futtaim Offers Drive-Thru Services to Limit Contact Amid Outbreak

Al Futtaim Group Real Estate has released a new drive-thru service to lessen physical contact and provide efficient services for all outlets, aiming to cope with the new world order of real estate.

Invest-Gate Hosts ‘New Real Estate Product’ VRT to Give Fresh Impetus on Market Revival

While continuing to march forward in response to the unprecedented changes in the business climate amid the Coronavirus woes, Invest-Gate hosted its second virtual roundtable on June 15, titled the “New Real Estate Product," aiming to open up new doors for investments in a bid to prepare the industry for a strong comeback.

Egypt Earmarks EGP 8.5 bn to Build 13 Industrial Zones for SMEs

Minister of Planning and Economic Development Hala El Saeed said the government has ratified the allocation of EGP 8.5 bn for the establishment of 13 industrial zones nationwide to support small- and medium-sized enterprises (SMEs).

NUCA Cuts Late Fees on Different Properties in New Cities

The New Urban Communities Authority (NUCA) will cut late fees owed on residential and commercial properties in new cities for the next two months, in the efforts to spur owners to pay off their arrears.

Smart Assets Eyes EGP 600 mn Contractual Sales in 2020

Egypt-based Smart Assets Real Estate Company is targeting the generation of EGP 600 mn in contractual sales for the various private projects across the country during the current year, compared to EGP 460 mn in 2019.

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