Contractors to be Compensated for Losses on State Projects

• Tuesday, 29th November 2016
• by Karim Mohy

The Egyptian Federation for Construction and Building Contractors has reached agreements with official bodies to compensate contractors for losses incurred due to the increase in prices of building materials following the flotation of the local currency, according to Hassan Abdel Aziz head of the Federation.

Wednesday Marks Last Day to Reserve Social Housing Units for Rent

• Tuesday, 29th November 2016
• by Karim Mohy

Around 6,800 applicants have reserved social housing units that are offered for rent, as the deadline for reserving these units is next Wednesday, according to Minister of Housing, Utilities, and Urban Communities Mostafa Madbouly.

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”.