Redcon to Build 200 Units in Emaar Misr’s Mivida

• Wednesday, 30th November 2016
• by Karim Mohy

Redcon Construction has contracted with Emaar Misr to construct 200 residential units in Emaar’s Mivida project in New Cairo.

2,000 Social Housing Units to be Implemented in New Qena City

• Wednesday, 30th November 2016
• by Karim Mohy

A total of 2,000 social housing units will be developed in New Qena City at a total cost of EGP 290 mn by Al Khalifa Housing for Real Estate Investment and the Assiut Businessmen's Association, according Ahmed Arafa, head of the New Qena Authority.

Madbouly Approves Extending Project Deadlines for Contractors

• Wednesday, 30th November 2016
• by Karim Mohy

Minister of Housing, Utilities, and Urban Communities Mostafa Madbouly approved extending project deadlines for contractors working on state projects for three months, and six months for projects involving electromechanical equipment, according to Hassan Abdel Aziz Chairman of the Egyptian Federation for Construction and Building Contractors.

Heliopolis Housing to Offer 240,000 acres of Land for New Projects

• Wednesday, 30th November 2016
• by Karim Mohy

Heliopolis for Housing & Development (HHD) will be implementing several projects the upcoming period, including the construction of facilities for 240,000 acres located on Suez Road which are set to be offered to private investors soon, according to Wael Mahmoud the company’s Deputy of CEO.

Contractors to be Compensated for Losses on State Projects

• Tuesday, 29th November 2016
• by Karim Mohy

The Egyptian Federation for Construction and Building Contractors has reached agreements with official bodies to compensate contractors for losses incurred due to the increase in prices of building materials following the flotation of the local currency, according to Hassan Abdel Aziz head of the Federation.

Wednesday Marks Last Day to Reserve Social Housing Units for Rent

• Tuesday, 29th November 2016
• by Karim Mohy

Around 6,800 applicants have reserved social housing units that are offered for rent, as the deadline for reserving these units is next Wednesday, according to Minister of Housing, Utilities, and Urban Communities Mostafa Madbouly.

New Residential Compound to be Launched in New Nubaria

• Tuesday, 29th November 2016
• by Karim Mohy

A new residential compound is expected to be launched in New Nubaria City at a total investment cost of EGP 50 mn, according to Mahmoud El Nagdy, Head of the New Nubaria City Authority.

Recent Economic Decisions to Benefit the Real Estate Sector -Coldwell Banker

• Tuesday, 29th November 2016
• by Karim Mohy

Several factors are expected to contribute to growth of real estate sector, such as the upcoming International Monetary Fund (IMF) loan, the flotation of the pound, and the Cabinet’s economic reform program, according to Coldwell Banker Chairman Mohamed Abdullah.

Memaar Al Morshedy to Launch Residential Compound in 6th of October City

• Monday, 28th November 2016
• by Karim Mohy

Memaar Al Morshedy will launch a residential compound in 6th of October City, with investments exceeding EGP 1 bn in 2017.

Developers Extend Payment Plans to Offset Price Increases

• Monday, 28th November 2016
• by Karim Mohy

Amid increases in the prices of construction inputs due to the flotation of the pound, various real estate developers have resorted to different measures in order to compensate the additional costs, with increases in unit prices announced almost universally, while some developers have chosen to offset these price increases by extending installment plan periods.