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LuLu Group Mulls Investing USD 500 mn in Egyptian Expansion

UAE-based retail company Lulu Group is eyeing to invest USD 500 mn in building four new hypermarkets across distinct cities in Egypt over the next two years

Castle Landmark’s 1st Phase is 80% Sold Out: CEO

Castle Development CEO Ahmed Mansour revealed on October 18 that the company has sold 80% of its new capital smart residential compound's first phase, Castle Landmark, with foreign buyers acquiring almost half of the achieved sales

NextMove Egypt Offers Flexible Payments, Attractive Discounts

NextMove Egypt, powered by Cityscape, has showcased some of the country’s top residential projects from the country's new and old cities, garnering significant interest from potential homebuyers and investors during the first two days of the event

NextMove Promotes Egypt’s New Cities

NextMove Egypt, powered by Cityscape, opens its doors from October 18 until October 20 to promote "hundreds of real estate investment opportunities for prospective buyers and investors across all price points, offered with attractive payment plans and down payments"

New Avenue Promotes Over 100 Egyptian Property Projects in Kuwait

Cairo-based New Avenue, a real estate marketing and brokerage firm, has announced that it will be promoting over 100 Egyptian real estate projects at Everest Real Estate Exhibition in Kuwait from October 17 to October 20

World Bank Agrees on USD 3 bn Loan to Egypt

Egyptian Minister of Investment and International Cooperation Sahar Nasr revealed on October 16 that an agreement was reached with the World Bank (WB) to provide the country with a new funding of USD 3 bn during the next few months

Gov’t to Digitize Payment of Real Estate Related Services  

The Egyptian Authority of Real Estate Proclamation and Notarization has signed a protocol with state-run e-finance company to digitize payment of all real estate-related services provided by the Real Estate Publicity Department as it attempts to provide a faster payment experience for citizens

Marakez Pays Off Mall of Arabia’s EGP 2 bn Loan

Marakez for Real Estate Investment, a subsidiary of Saudi Arabia’s Fawaz Alhokair Group, has fully paid off Mall of Arabia's EGP 2 bn credit facility to the Commercial International Bank (CIB) and other banks, "enabling the mall to operate debt free"

SODIC Intends to Acquire At Least 51% of MNHD

Sixth of October for Development and Investment (SODIC) announced its preliminary intentions to submit a mandatory tender offer to acquire at least 51% stake in Egypt’s urban developer Madinet Nasr Housing and Development (MNHD) through a direct share swap (securities swap only)

Hassan Allam Properties Releases New Units in Swanlake El Gouna

Egyptian developer Hassan Allam Properties (HAP) announced on October 14 the launch of new units in its fully integrated community of “Swanlake El Gouna” in Egypt’s Red Sea coast

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