Mountain View Sells Units in iCity for EGP 4 bn

• Wednesday, 23rd November 2016
• by Karim Mohy

Mountain View for Real Estate recorded EGP 4 bn in sales from the first and the second phase of its iCity development in New Cairo.

Capital Group to Develop Smart Village in Alburouj

• Wednesday, 23rd November 2016
• by Karim Mohy

Capital Group Properties (CGP) has signed a MOU with Smart Villages company to build a smart village in its new project Alburouj, at a cost of EGP 1 bn in Shorouk City, according to a company statement.

Orascom Construction 3Q16 Net Income up 6.1% y-o-y

• Tuesday, 22nd November 2016
• by Karim Mohy

Orascom Construction earned $26 mn in net income in the third quarter of 2016, according to an earnings release on Tuesday, an increase of 6.1% year-on-year.

Real Estate Sector Struggles Under Current Mortgage Law

• Tuesday, 22nd November 2016
• by Karim Mohy

As the Egyptian government attempts to tackle the country’s affordable housing shortage, a number of officials and developers have put forth solutions to existing problems, reported Daily News Egypt.

Heliopolis Housing Appoints Consultants to Create Master Plan for Helio Park

• Tuesday, 22nd November 2016
• by Karim Mohy

Heliopolis Housing & Development (HHD) appointed Associated Consultants to draw up the master plan for its new 7.14 mn square meter project Helio Park

Landlords Discuss Amending Old Rental Law with Parliament

• Tuesday, 22nd November 2016
• by Karim Mohy

Several citizens who own residential units that operate under the old rental law have launched a lobbying group to discuss their issues with the old rental law with parliament.

Palmier to Construct Resort in Matrouh

• Tuesday, 22nd November 2016
• by Karim Mohy

Palmier Real Estate Investment & Project Management will construct a resort in Matrouh governorate, measuring 10 acres with a total investment cost of EGP 140 mn, according to Mohamed Abdel Aziz, the company’s Chairman.

Samcrete Records EGP 3.15 mn Profit in Q3 2016

• Monday, 21st November 2016
• by Karim Mohy

Samcrete for Real Estate Development have turned their losses into profits in the third quarter of 2016, recording a total profit of EGP 3.15 mn within three months, compared to last year’s EGP 514,200, according to a financial statement released on Sunday.

CHD Q3 Profits Increase 226% y-o-y

• Monday, 21st November 2016
• by Karim Mohy

Cairo for Housing and Development (CHD) recorded a 266.2% profit increase in the third quarter of 2016, according to a financial statement released on Sunday.

Government Studies Possibility of Compensating Developers

• Monday, 21st November 2016
• by Karim Mohy

Ten different ministries in the Cabinet are studying the possibility of compensating real estate developers for losses incurred due to recent economic decisions, in cooperation with the committee for compensations at the Ministry of Housing, Utilities, and Urban Communities.