News / Egypt
Abraj Misr Signs EGP 300 M Contracts for The Shore
Abraj Misr, an Egypt-based real estate developer, signed contracts worth EGP 300 million for construction work in The Shore, its North Coast project, said Tarek Bahaa, Abraj Misr commercial director, according to Amwal Al Ghad.
Al Futtaim Plans to Sign EGP 1 B in Contracts in 2016
Al Futtaim Real Estate intends to sign contracts worth EGP 1 billion in 2016, while also increasing investment in its Cairo Festival City projects by EGP 2 billion, for a total investment of EGP 19 billion, the company’s Managing Director Mohamed Al Mikawi told Daily News Egypt.
Egypt Establishes New Company to Manage the Administrative Capital
A new company, Administrative Capital City for Urban Development, was founded to manage the proposed administrative capital city project, reported Invest Gate.
Orascom Construction wins EGP 2.7 B Cairo Metro Line Contracts
Orascom Constructions Limited, an Egypt-based construction company, acquired two contracts to develop the civil and track work of Cairo Metro Line III. The contracts are worth EGP 2.73 billion, reported Reuters.
Egypt’s Mortgage Sector Rose by 30 % in 2016
First quarter mortgage activity in Egypt rose by 30 percent, said Sherif Samy, head of the Egyptian Financial Supervisory Authority (EFSA), according to Amwal Al Ghad.
China’s CSCEC Finalizes Design of the Financial District of the New Administrative Capital
The Chinese company CSCEC has finalized the design of the financial district in the new administrative capital project, which includes 12 ministries, as well as some government departments and bodies Khaled Abbass, Assistant to the Minister of Housing, told Invest Gate. Wadi Degla Eyes 2,500 Acres for New Projects using PPP system
Wadi Degla Holding, an Egyptian real estate developer, is in discussions with the Ministry of Housing over 2,500 acres for new housing projects through the public-private partnership (PPP) system, Wadi Degla’s Chairman Maged Helmy told Amwal Al Ghad.
Emaar Misr Announces Increase of Assets in Q1 2016
Emaar Misr for Development recorded an increase in assets in the first quarter of 2016 worth EGP 18.3 billion. This figure represents an increase of 4.6 percent, compared to EGP 17.5 billion pounds in the same period in 2015.
Construction in Administrative Capital Progressing
Egyptian construction companies are now close to finalizing the drilling operations required for construction of the residential block in Cairo’s new administrative capital.
