Tourism Sector to Flourish more than Residential, Office Sectors in 2017

• Tuesday, 17th January 2017
• by Yasmin El-Beih

The recent EGP float has resulted in a 23% inflation, which is expected to increase to 25%, affecting the prices of residential units which have increased by 30%, according to JLL’s Head of MENA Research Craig Plumb who spoke at Cityscape’s Business Breakfast today about Egypt’s accomplishments in the real estate sector in Q4 of 2016 and the upcoming economic challenges that will meet the residential, tourism, retail, and office sectors.

Construction Works in New Administrative Capital City in Progress

• Tuesday, 17th January 2017
• by Yasmin El-Beih

The development of the first phase of the 10,500 acre New Administrative Capital City is commencing as onsite infrastructure is complete, allowing the New Urban Communities Authority (NUCA) to build several residential units alongside other potential developers, stated Ayman Ismail chairman of Administrative Capital for Urban Development Co. at Cityscape’s Business Breakfast today, Invest-Gate reports.

Suez Canal Zone’s developments to be Finalized Soon, East Port Said

• Tuesday, 17th January 2017
• by Yasmin El-Beih

General Authority for Suez Canal Economic Zone confirms the finalization of the development of lands east Port Said in the upcoming period, Invest-Gate reports.

Housing Ministry to Launch Offerings & Project Tenders for Developers Soon

• Tuesday, 17th January 2017
• by Yasmin El-Beih

The Ministry of Housing, Utilities and Urban communities will offer several land and partnership tenders in the upcoming period across the country with a return on investment worth of EGP 1,400 bn, Assistant Housing Minister for Technical Affairs Khaled Abbas said at the Cityscape Business Breakfast today, Invest-Gate reports.

Reservation for Non-Financed Social Housing Units Extended

• Tuesday, 17th January 2017
• by Yasmin El-Beih

The Minister of Housing, Utilities, and Urban Communities Mostafa Madbouly has extended the reservation period for non-financially-supported social housing units across 19 governorates for an additional of 15 days, according to a released statement.

Citizens to Finalize Payments for Dar Misr Units by February 5

• Tuesday, 17th January 2017
• by Yasmin El-Beih

The Commercial and Real Estate Sectors at the New Urban Communities Authority (NUCA) has set February 5 as a deadline for payment completion for Dar Misr reserved residential units, Invest-Gate reports.

Endowments Look Into Logistics of Retaining Properties in Greece

• Monday, 16th January 2017
• by Yasmin El-Beih

A Ministry of Endowments delegation recently visited Greece to discuss retaining Egyptian properties in the Mediterranean country.

Government Invests in the Development and Maintenance of Khedivial Cairo

• Monday, 16th January 2017
• by Yasmin El-Beih

State-owned Misr Real Estate Assets Management (MREAM) has completed maintenance and development works on 12 historical properties in Khedivial Cairo, the media office told Invest-Gate.

REDCON Sells 50% of its Blue Capital Project to Swiss Company

• Monday, 16th January 2017
• by Yasmin El-Beih

REDCON for Real Estate has sold 50% of its Blue Capital office project located in New Cairo to ABB for Green Technology to a Swiss company, according to a press release.

Bedaya Opens Reservation of Units in New Cairo’s Premiere Project

• Monday, 16th January 2017
• by Yasmin El-Beih

Bedaya for Real Estate Development has opened reservation for the first phase of its new Premiere residential project located in Lotus, New Cairo, Invest-Gate reports.