CFLD to Discuss Capital City Land Pricing with Housing Ministry

• Wednesday, 16th November 2016
• by Karim Mohy

Representatives from China Fortune Land Development (CFLD) will be meeting with the Egyptian Ministry of Housing, Utilities, and Urban Communities in the upcoming days to discuss the pricing for the first phase of land offered in the new Administrative Capital.

Egypt’s Annual Housing Shortage at 300,000 Units -Lafarge

• Wednesday, 16th November 2016
• by Karim Mohy

Egypt needs a major expansion plan for housing and infrastructure to tackle the annual shortage of residential units, which has recorded 300,000 units per year, according to Lafarge Egypt Country CEO Hussein Mansi.

Sodic Q3 2016 Net Profit up 38% y-o-y

• Wednesday, 16th November 2016
• by Karim Mohy

Sixth of October Development and Investment Company (Sodic) has recorded EGP 108 mn in net profit, marking a 38% year-on-year increase in the third quarter of 2016, according to an earnings release from the company on Tuesday.

Deadline Extended to Reserve Rental Social Housing

• Wednesday, 16th November 2016
• by Karim Mohy

Mostafa Madbouly, Minister of Housing, Utilities, and Urban Communities, has agreed to extend the application period to reserve social housing rental units to November 30 for residents with incomes of less than EGP 1,500 per month.

ERC Records EGP 49.5 mn Revenues in Q3 of 2016

• Tuesday, 15th November 2016
• by Karim Mohy

The Egyptian Resorts Company (ERC) has recorded revenues of EGP 49.5 mn in the third quarter of 2016, compared to last year’s EGP 16.7 mn, according to its latest financial statement.

MNHD to Progress Work on Projects through Bank Loans

• Tuesday, 15th November 2016
• by Karim Mohy

Madinet Nasr for Holding and Development (MNHD) is seeking an EGP 2 bn loan through a banking alliance to implement various projects in the upcoming period, according to Ahmed El Hitamy Managing Director of the company.

Egypt’s Arab Contractors Completes Major Hospital in Kuwait

• Tuesday, 15th November 2016
• by Karim Mohy

Egypt-based Arab Contractors Company has completed the construction of Sheikh Jaber Al-Ahmad Al- Sabah Hospital in Kuwait, considered the world’s sixth largest hospital.

Samcrete Invests EGP 3.2 bn in Egypt’s Real Estate Market

• Tuesday, 15th November 2016
• by Karim Mohy

Samcrete Development will build residential units in its Pyramids Heights development in 6th of October City at a cost of EGP 1.2 bn and an office space complex at a cost of EGP 2 bn, according to the company’s Chairman Hisham El Kheshen.

Ministers of Investment, Housing Discuss New Investment Law

• Tuesday, 15th November 2016
• by Karim Mohy

Minister of Housing, Utilities, and Urban Communities Mostafa Madbouly met with Minister of Investment Dalia Khorshid to discuss the newly drafted investment law that is currently being prepared by the Cabinet and is expected to be submitted for parliamentary approval.

Supply Exceeds Demand in Alexandrian Real Estate Market -Analysts

• Monday, 14th November 2016
• by Karim Mohy

Amid sharp fluctuations in the Alexandrian real estate market following the flotation of the Egyptian pound against the US dollar and the raising of fuel prices, a survey of industry experts by Al Mal suggests that supply of real estate in Alexandria has outpaced demand.