Deadline Extended to Reserve Rental Social Housing

• Wednesday, 16th November 2016
• by Karim Mohy

Mostafa Madbouly, Minister of Housing, Utilities, and Urban Communities, has agreed to extend the application period to reserve social housing rental units to November 30 for residents with incomes of less than EGP 1,500 per month.

ERC Records EGP 49.5 mn Revenues in Q3 of 2016

• Tuesday, 15th November 2016
• by Karim Mohy

The Egyptian Resorts Company (ERC) has recorded revenues of EGP 49.5 mn in the third quarter of 2016, compared to last year’s EGP 16.7 mn, according to its latest financial statement.

MNHD to Progress Work on Projects through Bank Loans

• Tuesday, 15th November 2016
• by Karim Mohy

Madinet Nasr for Holding and Development (MNHD) is seeking an EGP 2 bn loan through a banking alliance to implement various projects in the upcoming period, according to Ahmed El Hitamy Managing Director of the company.

Egypt’s Arab Contractors Completes Major Hospital in Kuwait

• Tuesday, 15th November 2016
• by Karim Mohy

Egypt-based Arab Contractors Company has completed the construction of Sheikh Jaber Al-Ahmad Al- Sabah Hospital in Kuwait, considered the world’s sixth largest hospital.

Samcrete Invests EGP 3.2 bn in Egypt’s Real Estate Market

• Tuesday, 15th November 2016
• by Karim Mohy

Samcrete Development will build residential units in its Pyramids Heights development in 6th of October City at a cost of EGP 1.2 bn and an office space complex at a cost of EGP 2 bn, according to the company’s Chairman Hisham El Kheshen.

Ministers of Investment, Housing Discuss New Investment Law

• Tuesday, 15th November 2016
• by Karim Mohy

Minister of Housing, Utilities, and Urban Communities Mostafa Madbouly met with Minister of Investment Dalia Khorshid to discuss the newly drafted investment law that is currently being prepared by the Cabinet and is expected to be submitted for parliamentary approval.

Supply Exceeds Demand in Alexandrian Real Estate Market -Analysts

• Monday, 14th November 2016
• by Karim Mohy

Amid sharp fluctuations in the Alexandrian real estate market following the flotation of the Egyptian pound against the US dollar and the raising of fuel prices, a survey of industry experts by Al Mal suggests that supply of real estate in Alexandria has outpaced demand.

Karma Reveals Plans for New Residential Projects

• Monday, 14th November 2016
• by Karim Mohy

Karma for Real Estate is planning to implement touristic residential projects in several areas across the North Coast and Ain Sokhna, according to the company’s Chairman, Ahmed Mostafa.

Developers Postpone Sales to Re-price Products

• Monday, 14th November 2016
• by Karim Mohy

Several real estate companies have suspended sales of residential units to reprice amid increases in interest rates nationwide.

Housing Ministry to Offer New Land Plots in Upper Egypt

• Monday, 14th November 2016
• by Karim Mohy

New land plots will be offered to real estate investors this month in Assiut City and Qena City, according to Mostafa Madbouly, the Minister of Housing, Utilities, and Urban Communities.