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.

Land Plots to be Offered for Investments in Giza

• Tuesday, 8th November 2016
• by Karim Mohy

Approximately 64.7 acres of land will be offered for investments in the Giza governorate next year as land tenders have been finalized.

Al-Futtaim to Build 2 New Hotels in Cairo Festival City

• Tuesday, 8th November 2016
• by Karim Mohy

UAE-based Al-Futtaim will be constructing two new hotels in Cairo Festival City Mall in New Cairo.

Palm Hills Q3 Net Profit Up 59% y-o-y, Negotiating with NUCA for 6th of October City Land

• Monday, 7th November 2016
• by Karim Mohy

Palm Hills announced its financial results for the third quarter of 2016 in a statement, reporting net profit after tax and minority interest of EGP 235 mn, up 59% year-on-year, exceeding the first two quarters of the year combined. Quarterly revenue was up 34% year-on-year to EGP 1.5 bn.