NUCA to Collaborate with Mountain View to Develop iCity Project

• Monday, 6th June 2016
• by Invest Gate

The New Urban Communities Authority (NUCA) Board will issue within days a ministerial order to develop the iCity project with investments worth EGP 31.97 billion ($ 3.6 billion), in collaboration with the Saudi-Egyptian Alliance Mountain View-Sisban.

Wadi Degla Launches EGP 350 M Promenade Maadi

• Monday, 6th June 2016
• by Invest Gate

Wadi Degla Developments, part of Wadi Degla Holding Company, has launched Promenade Maadi Compound, a residential project in Zahraa Maadi, worth EGP 350 million in investments.

Arab Contractors and El Eman to Build 600 Residential Units in Red Sea

• Monday, 6th June 2016
• by Invest Gate

The Arab Contractors and El Eman Construction Companies have won a bid to execute 600 residential units, in the Red Sea governorate, with a cost of EGP 99 million.

Government, Developers Begin Pricing Negotiations over Administrative Capital Land

• Monday, 6th June 2016
• by Invest Gate

Administrative Capital City for Urban Development, the company managing the new administrative capital, has started negotiations with real estate developers over pricing dynamics of lands in the new capital.

Parliament Approves King Salman’s Sinai Development Program

• Sunday, 5th June 2016
• by Invest Gate

In a plenary session, the Egyptian parliament approved a report presented by the legislative and constitutional affairs committee on a Saudi-Egyptian loan for a development program of the Sinai Peninsula.

Wadi Degla to Begin Construction of EGP 13M Neopolis Project

• Friday, 3rd June 2016
• by Invest Gate

Wadi Degla Developments has begun construction of its Neopolis project, with investments worth EGP 13.3 billion ($1.5 billion), the company announced in a press statement.

NBE Allocates EGP 700M to Mortgage Finance

• Friday, 3rd June 2016
• by Invest Gate

The National Bank of Egypt (NBE) has allocated an amount of EGP 700 million, for the purchasing of 8,600 apartments within the Central Bank’s mortgage finance initiative, to provide housing for low and medium-income citizens.

UDH Launches its First Project With EGP 4B Investments

• Wednesday, 1st June 2016
• by Invest Gate

Upscale Development Holding (UDH), an emerging real estate company, launched its first project worth EGP 4 billion ($ 450 million) in Borg El Arab, said Chairman Mohamed Khairy

iCity Reservation Witness Remarkable Turnout

• Wednesday, 1st June 2016
• by Invest Gate

Egypt’s largest real estate project to date, iCity, has witnessed a remarkably high turnout during its 2 day reservation period.

Orascom Construction Records EGP 204.4 M in Net Profit in Q1

• Wednesday, 1st June 2016
• by Invest Gate

Orascom Construction announced a net profit of EGP 204.4 million in the first quarter (Q1) of 2016, in comparison to EGP 51.5 million for Q1 2015.