New Residential Compound to be Launched in New Nubaria

• Tuesday, 29th November 2016
• by Karim Mohy

A new residential compound is expected to be launched in New Nubaria City at a total investment cost of EGP 50 mn, according to Mahmoud El Nagdy, Head of the New Nubaria City Authority.

Recent Economic Decisions to Benefit the Real Estate Sector -Coldwell Banker

• Tuesday, 29th November 2016
• by Karim Mohy

Several factors are expected to contribute to growth of real estate sector, such as the upcoming International Monetary Fund (IMF) loan, the flotation of the pound, and the Cabinet’s economic reform program, according to Coldwell Banker Chairman Mohamed Abdullah.

Memaar Al Morshedy to Launch Residential Compound in 6th of October City

• Monday, 28th November 2016
• by Karim Mohy

Memaar Al Morshedy will launch a residential compound in 6th of October City, with investments exceeding EGP 1 bn in 2017.

Developers Extend Payment Plans to Offset Price Increases

• Monday, 28th November 2016
• by Karim Mohy

Amid increases in the prices of construction inputs due to the flotation of the pound, various real estate developers have resorted to different measures in order to compensate the additional costs, with increases in unit prices announced almost universally, while some developers have chosen to offset these price increases by extending installment plan periods.

CBE Announces Unified Conditions for Real Estate Financing

• Monday, 28th November 2016
• by Karim Mohy

The Central Bank of Egypt (CBE) has announced unified conditions that banks should abide by when providing real estate financing for citizens with limited incomes, according to a statement released by the CBE.

Orascom Development to Build Residential Project in Senegal

• Monday, 28th November 2016
• by Karim Mohy

Orascom Development Holding will be finalizing an agreement with the Senegalese government to build a new project, similar to the company’s previous project Haram City, according to Samih Sawiris, the company’s CEO.

Micro Castle to Deliver Second Phase of Porto Perla in May 2017

• Monday, 28th November 2016
• by Karim Mohy

Micro Castle Co. for Real Estate Investment will be finalizing the second phase of its Porto Perla project in Alexandria in May 2017.

Madbouly: NUCA’s Investment Budget for 2016 Registers EGP 37 bn

• Sunday, 27th November 2016
• by Karim Mohy

The investment budget of the New Urban Communities Authority (NUCA) has grown from EGP 5 bn for 2013/2014 to EGP 6 bn at the end of 2014 to EGP 37 bn for 2016, according to Minister of Housing, Utilities, and Urban Communities Mostafa Madbouly speaking at a conference held by the American Chamber of Commerce in Egypt on Sunday dubbed “Sustaining the Real Estate Industry in Egypt”.

New Administrative Capital Company to Float Shares in IPO -Chairman

• Sunday, 27th November 2016
• by Karim Mohy

Up to one third of the shares of the Administrative Capital for Urban Development, the company responsible for building the new administrative capital in East Cairo, will be floated in an upcoming IPO at a date yet to be determined, according to the company’s Chairman Ayman Ismail, speaking at a conference organized by the American Chamber of Commerce in Egypt on Sunday.

Public Lottery Announced to Distribute 2,654 Land Plots in Badr City

• Sunday, 27th November 2016
• by Karim Mohy

A public lottery will take place Sunday at the Arab Contractors Stadium to allocate 2,654 land plots located in Badr City as part of the scheme for allocating 16,400 land plots in eight new cities.