Egypt Invests EGP 24 bn in 6th of October City

• Sunday, 13th November 2016
• by Karim Mohy

The total value of investments in 6th of October City has reached EGP 24 bn thus far in 2016, according to Hany Younis Spokesperson for the Ministry of Housing , Utilities, and Urban communities.

AREH for Real Estate records Profit Growth in Q3 2016

• Sunday, 13th November 2016
• by Karim Mohy

Real Estate Egyptian Consortium (AREH) has recorded 10% growth in the third quarter of 2016.

Talaat Mostafa Group Records 10.5% Q3 Growth y-o-y

• Sunday, 13th November 2016
• by Karim Mohy

Talaat Mostafa Group has recorded an unaudited net profit of EGP 184.3 mn in the third quarter of 2016, compared to a net profit of EGP 166.8 mn in the same period last year.

Land Plots in New Cities to be Offered through Lottery Starting 17 November

• Sunday, 13th November 2016
• by Karim Mohy

Land plots for luxury housing projects in the New Cities will be offered through a series of public lotteries starting on Thursday, November 17, according to Mostafa Madbouly, Minister of Housing, Utilities, and Urban Communities..

Housing Ministry to Offer Residential Units in Dollars

• Thursday, 10th November 2016
• by Karim Mohy

The Housing Ministry will be offering land and residential units in US dollars to target Egyptian living abroad in the upcoming weeks, Assistant to the Minister of Housing for Technical Affairs Khaled Abbas told Invest-Gate.

China and Egypt Joint Projects Total $7.5 bn

• Thursday, 10th November 2016
• by Karim Mohy

The total value of the joint projects between Egypt and China currently underway amounts to $7.5 bn, according to the Cabinet’s Spokesperson Hossam El Qawish.

Palm Hills to Postpone Projects to Avoid Cannibalizing Sales -Analyst

• Thursday, 10th November 2016
• by Karim Mohy

Palm Hills Development will postpone the launch of its projects to avoid cannibalizing sales, in light of its wide geographical expansion and diverse projects, according to Mohamed Marei, Equity Research Analyst at Prime Holding.

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.