News / Egypt

Real Estate Chamber Obtains Approval for 2 New Offices

Egypt's Ministry of Housing, Utilities, and Urban Communities has approved the establishment of two headquarters for the Real Estate Development Chamber in the New Urban Communities Authority (NUCA) and the 6th of October City Development Authority's buildings

SODIC’s “The Estates” Records EGP 1 bn Presales

Sixth of October Development and Investment Company (SODIC) has achieved EGP 1 bn in presales of its all-villa signature community, “The Estates,” on September 28 during the first day of the launch

PHD Implements EGP 300 mn Hotels on North Coast

Palm Hills Developments (PHD) has invested nearly EGP 300 mn in the Egyptian hospitality industry to implement two niche boutique hotels within Hacienda White and Hacienda Bay, its flagship projects on the North Coast.

NUCA Acquires Additional Acres for New Mansoura

Egypt's cabinet has ratified to amend provisions of a presidential decree to reallocate 7,211.35 acres of state-owned lands in Dakahlia Governorate to the New Urban Communities Authority (NUCA), instead of 5,913 acres, for building New Mansoura.

New Aswan Sees Delivery of 1,506 Housing Units

The Ministry of Housing handed over on September 28 the first batch of social housing units in New Aswan to beneficiaries, presenting 1,506 out of the total 3,951 properties allocated to low-income citizens.

Brickzy Commercial Inks Deal for EGP 1.5 bn West Eleven

Kasr El Nile for Contracting and Engineering Designs has signed an agreement with Brickzy Commercial, a sister company of Brickzy Property Management, to manage and promote its new commercial and administrative project in 6th of October City, west Cairo, dubbed "West Eleven."

CBE Makes 2nd Consecutive Cut to Interest Rates

The Central Bank of Egypt (CBE) made the second consecutive cut to key rates by 1% (100 bps), driven by the declining inflation rates, which hit a six-year low in August, alongside the falling unemployment and soaring economic growth.

NUCA Offers 46 Villas in Marina Alamein

The New Urban Communities Authority (NUCA) will start issuing the terms and conditions booklets for 46 semi-finished villas in Marina Alamein, North Coast, starting September 29.

El Kassara Slum Sees 126 Units 95% Finished

Rashid City's El Kassara, one of Beheira's unsafe slums, is having five buildings, comprising 117 housing and nine commercial units, 95% completed, with investments worth EGP 25 mn

Alburouj Phase I to be Delivered This Year: Imkan

Abu Dhabi's Imkan said the first phase of Alburouj development in east Cairo, near Shorouk City, will be delivered this year.

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