News / Egypt

Gov’t Extends 4 Public Lands in Hurghada to SHMFF

Prime Minister Mostafa Madbouly has mandated the free allocation of four public lands in the Red Sea resort of Hurghada to the Social Housing and Mortgage Finance Fund (SHMFF).

Brickzey Posts EGP 3.5 bn Contractual Sales in 2019

Brickzey Property Management CEO Ahmed Selim said the company logged EGP 3.5 bn worth of sales in 2019, marking an EGP 1 bn hike compared with the year-ago period.

IPS Riyadh’s 2nd Edition Generates Over EGP 600 mn in 3 Days

The second edition of International Property Show (IPS) Riyadh, KSA, generated contractual sales surpassing EGP 600 mn from December 12 to 14, 2019.

NUCA Directs EGP 33 bn for Urban Development in 6M

The New Urban Communities Authority (NUCA) pumped investments worth EGP 33 bn into different projects nationwide in the prior six months, planning to direct an additional EGP 44 bn by the end of July 2020.

MNHD Achieves EGP 6.3 bn Presales in 2019

Madinet Nasr for Housing and Development (MNHD) recorded a 15% boost in its presales activities (i.e primary contracts and reservations) year-on-year to log EGP 6.3 bn in 2019.

Elsewedy Electric Unit Nods EGP 1.2 bn Works in Cairo

Egytech Cables, a subsidiary of Egypt's Elsewedy Electric, has inked an EGP 1.2 bn deal to upgrade Cairo Regional Control Center on a turnkey basis.

Ashraf Salman Appointed City Edge Chairman

City Edge Developments (CED) said its board of directors (BoD) has approved the appointment of former Investment Minister Ashraf Salman as the company's chairman to replace Hassan Ghanem, who had been selected for the post last month.

Hassan Allam Holding Unit Awarded 7 New Water Contracts in Egypt

Hassan Allam Holding’s (HAH) subsidiary Intech kicked off the new year with seven new contracts for various infrastructure works nationwide.

ACUD, Orange Egypt to Build Africa’s Largest Data Center in NAC

State-run Administrative Capital of Urban Development (ACUD) and Egypt's mobile network operator Orange Egypt have teamed up to set up Africa's largest data center for cloud services in the New Administrative Capital (NAC).

TMG Holding Maintains Stable Financial Results in 2019

Talaat Moustafa Group (TMG) Holding maintained a stable pace of development last year, with real estate transactions dipping by 4% only to hit almost EGP 20.4 bn versus sales in 2018.

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