News / Egypt

Misr Italia to Pump EGP 50 bn into Projects by Year-End

Chairman of Misr Italia Properties Hany Al Assal has revealed that the company plans to pump a total of EGP 50 bn into the real estate market in 2019, aiming to achieve a sales target of EGP 6 bn from its various projects in Egypt by year-end.

Emaar Misr Completes Delivery of Beyout El Kheir Phase I

Emaar Misr and Misr El Kheir Foundation have announced the delivery of the first phase of Beyout El Kheir project (Homes of Generosity) on June 18, covering Matrouh, Beheria, Aswan, and Qena provinces.

Lessors Can Now Register Leased Properties: Interior Ministry

Egypt's interior ministry now offers an online service that allows lessors to register properties they rent out across all governorates, in an aim to lead the country toward a digital transformation and a cashless economy.

Tahya Misr Fund Secures EGP 150 mn to Revamp Poor Villages

Egypt's national Tahya Misr Fund (TMF) celebrated on June 16 the signing of two protocols, valued at EGP 150 mn, with a couple of Egyptian charities to renovate 2,885 homes in 100 impoverished villages across the country, while building integrated development projects in three Sohag-based villages

Japan Grants Egypt USD 18 mn to Bolster Healthcare Sector

The Japanese International Cooperation Agency (JICA) will provide USD 18 mn to develop a new building for outpatient clinics of Abu El Reesh Pediatric Hospital, aiming to bolster Egypt's healthcare sector and enhance medical services offered to citizens.

Work in Full Swing at Old Cairo’s NMEC: Minister

Egyptian Antiquities Minister Khaled El Anani has unveiled that the second phase of the National Museum of Egyptian Civilization (NMEC) in Fustat, south Cairo, is 95% completed, while 96% of the third phase's works are done, including three main exhibition halls covering a total surface area of 6,290 square meters.

Marakez to Open Largest Mall in Delta Region Next Fall

Marakez for Real Estate Investment, a subsidiary of Saudi Arabia’s Fawaz Alhokair Group, plans to launch Gharbia Governorate’s first internationally-modeled shopping complex, Mall of Tanta, in fall 2019.

NUCA Approves System for New Cities’ Land Tenders

New Urban Communities Authority's (NUCA) board of directors approved on June 17 a mechanism to deal with investors' requests for land plots offered in new cities, endeavoring to facilitate purchase procedures and boost investment inflows in the newly-introduced areas.

Heliopolis Housing Auctions EGP 66.7 mn Plots in Sheraton

Heliopolis Company for Housing and Development (HHD) auctioned on June 17 eight plots in Sheraton, Heliopolis, amounted at EGP 66.7 mn, as part of the company’s scheme to sell part its land portfolio to finance its investment plan and cut its debt.

Market Cap of Listed Real Estate Firms Hits EGP 80.2 bn: Official

Chairman of Egyptian Stock Exchange (EGX) Mohamed Farid said Egypt’s property sector has managed to log a market capitalization of at least EGP 80.2 bn in 2018, with 36 real estate firms listed at an 18% return on equity, emphasizing the pivotal role of listing in real estate development.

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