Construction Work Following 2015 Taba’s Flooding Edges at EGP 250 M

• Wednesday, 1st June 2016
• by Invest Gate

The cost of construction work to repair the damage from last flood in Taba has reached EGP 250 million. Renovation work includes 11 dams and 3 lakes.

Over 200 Thousand Show Interest in Government Land Lottery

• Tuesday, 31st May 2016
• by Invest Gate

211,759 citizens have withdrawn conditions pamphlets for the recently announced land lottery by the Housing and Development Bank, 146,869 of which were for the social housing lots, 38,302 were for the premium lands, and 26,588 were for the most distinct, reported Invest Gate.

Housing Minister Extends Deadline for Dar Misr Payments to January 2017

• Sunday, 29th May 2016
• by Invest Gate

The New Urban Communities Authority (NUCA) board chaired by Minister of Housing, Utilities, and Urban Communities, Moustafa Madbouly, approved the extension of the payment deadline for Dar Misr social housing project to the 1st of January 1st, 2017, upon delivery of units.

Slum Development Fund to Develop El Kassara Area in Beheira

• Thursday, 26th May 2016
• by Invest Gate

Slum Development Fund and Beheira Governorate have announced plans to develop El Kassara area in the city of Rashid, as it is considered hazardous. The area suffers from sewage and drainage problems which led to the deterioration of the buildings.

NUCA to Establish a Company for Land Investment

• Thursday, 26th May 2016
• by Invest Gate

The Board of the New Urban Communities Authority (NUCA) has agreed in a meeting chaired by Moustafa Madbouly, the Minister of Housing, Utilities, and Urban Communities, on establishing a company dedicated to handling matters in relation to land allocation and investment throughout the country.

Egyptian Mountain View, Saudi Sisban to Construct EGP 32B iCity

• Thursday, 26th May 2016
• by Invest Gate

The Minister of Housing, Utilities and Urban Communities announced in a press release Egypt’s biggest real estate project to date, the iCity. The project will be constructed through a partnership between Egyptian Mountain View and Saudi Sisbain.

EU Grants Egypt EGP 15M for Slums Development

• Tuesday, 24th May 2016
• by Invest Gate

The European Union has granted Egypt EGP 15 million for the development of small and medium-sized infrastructure projects targeting three areas in Greator Cairo.

MNHD Registers 176% Hike in Revenue

• Tuesday, 24th May 2016
• by Invest Gate

Madinet Nasr Housing and Development’s (MNHD) announced its financial results for the first quarter (Q1) of 2016, stating a revenue of EGP 169.7 million for the period, and recording an increase of 176% in comparison to that of Q1 2015.

Porto Group Hits EGP 191M in Revenues in Q1 2016

• Tuesday, 24th May 2016
• by Invest Gate

Porto Group announced its consolidated revenue for the first quarter (Q1) of 2016, achieving a gross profit of EGP 68 million with a gross profit margin of 36%.

Palm Hills to invest EGP 2B in 2016

• Tuesday, 24th May 2016
• by Invest Gate

Palm Hills is planning to invest EGP 2 billion ($225 million) within the current year.