Wadi Degla to Begin Construction of EGP 13M Neopolis Project

• Friday, 3rd June 2016
• by Invest Gate

Wadi Degla Developments has begun construction of its Neopolis project, with investments worth EGP 13.3 billion ($1.5 billion), the company announced in a press statement.

NBE Allocates EGP 700M to Mortgage Finance

• Friday, 3rd June 2016
• by Invest Gate

The National Bank of Egypt (NBE) has allocated an amount of EGP 700 million, for the purchasing of 8,600 apartments within the Central Bank’s mortgage finance initiative, to provide housing for low and medium-income citizens.

UDH Launches its First Project With EGP 4B Investments

• Wednesday, 1st June 2016
• by Invest Gate

Upscale Development Holding (UDH), an emerging real estate company, launched its first project worth EGP 4 billion ($ 450 million) in Borg El Arab, said Chairman Mohamed Khairy

iCity Reservation Witness Remarkable Turnout

• Wednesday, 1st June 2016
• by Invest Gate

Egypt’s largest real estate project to date, iCity, has witnessed a remarkably high turnout during its 2 day reservation period.

Orascom Construction Records EGP 204.4 M in Net Profit in Q1

• Wednesday, 1st June 2016
• by Invest Gate

Orascom Construction announced a net profit of EGP 204.4 million in the first quarter (Q1) of 2016, in comparison to EGP 51.5 million for Q1 2015.

Construction Work Following 2015 Taba’s Flooding Edges at EGP 250 M

• Wednesday, 1st June 2016
• by Invest Gate

The cost of construction work to repair the damage from last flood in Taba has reached EGP 250 million. Renovation work includes 11 dams and 3 lakes.

Over 200 Thousand Show Interest in Government Land Lottery

• Tuesday, 31st May 2016
• by Invest Gate

211,759 citizens have withdrawn conditions pamphlets for the recently announced land lottery by the Housing and Development Bank, 146,869 of which were for the social housing lots, 38,302 were for the premium lands, and 26,588 were for the most distinct, reported Invest Gate.

Housing Minister Extends Deadline for Dar Misr Payments to January 2017

• Sunday, 29th May 2016
• by Invest Gate

The New Urban Communities Authority (NUCA) board chaired by Minister of Housing, Utilities, and Urban Communities, Moustafa Madbouly, approved the extension of the payment deadline for Dar Misr social housing project to the 1st of January 1st, 2017, upon delivery of units.

Slum Development Fund to Develop El Kassara Area in Beheira

• Thursday, 26th May 2016
• by Invest Gate

Slum Development Fund and Beheira Governorate have announced plans to develop El Kassara area in the city of Rashid, as it is considered hazardous. The area suffers from sewage and drainage problems which led to the deterioration of the buildings.

NUCA to Establish a Company for Land Investment

• Thursday, 26th May 2016
• by Invest Gate

The Board of the New Urban Communities Authority (NUCA) has agreed in a meeting chaired by Moustafa Madbouly, the Minister of Housing, Utilities, and Urban Communities, on establishing a company dedicated to handling matters in relation to land allocation and investment throughout the country.