EU Grants Egypt EGP 15M for Slums Development

• Tuesday, 24th May 2016
• by Invest Gate

The European Union has granted Egypt EGP 15 million for the development of small and medium-sized infrastructure projects targeting three areas in Greator Cairo.

MNHD Registers 176% Hike in Revenue

• Tuesday, 24th May 2016
• by Invest Gate

Madinet Nasr Housing and Development’s (MNHD) announced its financial results for the first quarter (Q1) of 2016, stating a revenue of EGP 169.7 million for the period, and recording an increase of 176% in comparison to that of Q1 2015.

Porto Group Hits EGP 191M in Revenues in Q1 2016

• Tuesday, 24th May 2016
• by Invest Gate

Porto Group announced its consolidated revenue for the first quarter (Q1) of 2016, achieving a gross profit of EGP 68 million with a gross profit margin of 36%.

Palm Hills to invest EGP 2B in 2016

• Tuesday, 24th May 2016
• by Invest Gate

Palm Hills is planning to invest EGP 2 billion ($225 million) within the current year.

Administrative Capital to be Linked Railway Network

• Monday, 23rd May 2016
• by Invest Gate

The Minister of Housing, Utilities, and Urban Communities, Moustafa Madbouly, and the Minister of Transportation, Jalal Saeed have met to discuss a scheme to connect the new administrative capital with the railway network, as well as add an extension to the Asher-Bilbeis monorail to the capital’s transportation network.

2,568 Residential Units to be Offered in Madinaty and Rehab

• Monday, 23rd May 2016
• by Invest Gate

Moustafa Madbouly, Minister of Housing, Utilities, and Urban communities, announced the offering of 2,568 residential units in the suburbs of Madinaty and Rehab extension in new Cairo, reported Invest Gate.

UAE’s CGP Announced Tender for Construction of Alburouj Project

• Sunday, 22nd May 2016
• by Invest Gate

Capital Group Properties (CGP), a real estate development company owned by Abu Dhabi Capital Group (ADCG) and Al Ain properties, has announced a tender for the construction of the first phase of its latest project Alburouj.

Approval of Rent Scenario for Social Housing Project

• Saturday, 21st May 2016
• by Invest Gate

The Board of the Social Housing Fund has approved offering a portion of the social housing project for rent. The move is designed to aid citizens of provinces with extreme poverty, reported Invest Gate.

Palm Hills Plans to Establish a Base in Dubai

• Sunday, 15th May 2016
• by Nadine Abou el Atta

Palm Hills Development (PHD), an Egyptian real estate developer, is planning to open a company in Dubai, reported The National.

Extensive Campaign to Remove All Trespasses on Ismailia Road

• Sunday, 15th May 2016
• by Nadine Abou el Atta

The Ministry of Housing announced that all trespasses residing on the Ismailia Desert Road will be removed, reported Invest Gate.