1,100 Residential Units to be Constructed in Gulf of Suez

• Thursday, 10th November 2016
• by Karim Mohy

The New Urban Communities Authority (NUCA) allocated 1,100 residential units to be constructed by International Construction for Contracting and El Shark Real Estate, as part of the second phase of the social housing project located in the Gulf of Suez City.

Pyramids Heights Units Earn EGP 1.1 bn in Sales Since October

• Thursday, 10th November 2016
• by Karim Mohy

Samcrete Engineers and Contractors’ Pyramids Heights Residences in 6th of October City have already recorded sales of EGP 1.1 bn since the project was first promoted starting from last month.

Developers fear Government Competition in Real Estate Market -Sources

• Wednesday, 9th November 2016
• by Karim Mohy

Small and medium-sized real estate companies are reportedly growing concerned following the Housing Ministry’s offering of units at an unsubsidized cost of EGP 198,000, which will result in taking away a huge number of a buyers from a certain class from developers.

El Massa to Develop 26 Acres of Land in Beni Suef

• Wednesday, 9th November 2016
• by Karim Mohy

El Massa for Real Estate Development will begin developing 26 acres of land in Beni Suef that the company bought in a public auction last year.

Heliopolis Housing Records Sales of EGP 25.4 mn in October

• Wednesday, 9th November 2016
• by Karim Mohy

Heliopolis for Housing and Development’s three projects, in the Sheraton neighborhood in Heliopolis, in Obour City, and in New Heliopolis City, have recorded total sales of EGP 25.4 mn in October.

Administrative Court Rejects Qatari Diar’s Lawsuit to Cancel Sinai Project

• Wednesday, 9th November 2016
• by Karim Mohy

The Administrative Court has rejected an appeal lodged by Qatari Diar to cancel its 30 mn square meter project in Sinai.

Al-Futtaim to Invest EGP 3 bn in Developments in Egypt

• Wednesday, 9th November 2016
• by Karim Mohy

Dubai-based developer Al-Futtaim Group plans to invest EGP 3 bn to complete its projects in Egypt, including its Oriana development in New Cairo which will alone receive EGP 1 bn in investment, according to Managing Director Mohamed El Mikawi.

Emaar Misr Records 9M 2016 Net Profits of EGP 1.0 bn

• Tuesday, 8th November 2016
• by Karim Mohy

Emaar Misr recorded net profits of approximately EGP 1.0 bn in the first nine months of 2016, compared to about EGP 745 mn during the same period last year, marking an approximate 43% year-on-year increase.

Madbouly: Prices for Reserved Social Housing Units will not Increase

• Tuesday, 8th November 2016
• by Karim Mohy

The prices of the reserved social housing units will not increase following the flotation and subsequent devaluation of the Egyptian pound against the US dollar, according to Minister of Housing, Utilities, and Urban Communities Mostafa Madbouly.

MHND Launches Sarai Compound in New Cairo

• Tuesday, 8th November 2016
• by Karim Mohy

Madinet Nasr for Housing & Development Holding (MNHD) has announced sales of the first phase in the its new residential compound, Sarai, located in Nasr City.