EFSA Mortgage Activity Recorded EGP 564 M in 2016

• Thursday, 1st September 2016
• by Heba Eid

Mortgage finance activity for the first seven months of 2016 recorded EGP 564 million, compared to EGP 586 million in 2015, said Sherif Samy, Head of the Egyptian Financial Supervisory Authority (EFSA).

NUCA Extends Deadline for Dar Misr Unit Reservations

• Wednesday, 31st August 2016
• by Heba Eid

The Board of New Urban Communities Authority (NUCA) agreed to extend the period for the 20% reservation for Dar Misr, announced Mustafa Madbouly, Minister of Housing, Utilities and Urban Communities.

CBE Studies Modifying Mortgage Finance Initiative

• Wednesday, 31st August 2016
• by Heba Eid

The Central Bank of Egypt is studying amendments to the mortgage finance initiative introduced in 2014.

Egypt Receives First Segment of Saudi Loan for Developing Sinai

• Wednesday, 31st August 2016
• by Heba Eid

Egypt received EGP 2.664 billion ($300 million) from Saudi Arabia to develop the Sinai peninsula, announced Minister of International Cooperation Sahar Nasr.

Development Kicks Off on Azha Ain Sokhna Project

• Wednesday, 31st August 2016
• by Heba Eid

Madaar Development, an Egypt-based real estate developer, started developing the first phase of its Azha project in Ain Sokhna, announced Gasser Bahgat, company's CEO.

60% of New Cairo Riyadh-SECON Project Marketed

• Tuesday, 30th August 2016
• by Heba Eid

The Saudi Egyptian Construction Company (SECON) marketed 60% of the first phase of Riyadh-SECON project in New Cairo.

HELI Seeks EGP 388 M in Loans

• Tuesday, 30th August 2016
• by Heba Eid

Heliopolis Company for Housing and Development (HELI), an Egypt-based real estate firm, is seeking to secure EGP 350 million in credit from banks and financial leasing companies.

Maintenance Road Work Completed on 500Km

• Tuesday, 30th August 2016
• by Heba Eid

Egyptian General Authority for Roads, Bridges, and Land Transport (GARBLT) completed maintenance work on 500 kilometers on the existing road network, at a cost of EGP 1.3 billion.

Housing Ministry to Inaugurate 39 New Water Projects in Weeks

• Tuesday, 30th August 2016
• by Heba Eid

The Ministry of Housing, Utilities and Urban Communities, represented by the National Authority for Potable Water and Sewage is preparing to inaugurate 39 drinking water and sanitation projects in the coming weeks, said Minister of Housing Mostafa Madbouly.

Construction Tenders in Badr, Obour, New Damietta

• Tuesday, 30th August 2016
• by Heba Eid

The Badr City Development Authority (BCDA) will offer five tenders to build commercial markets in the social housing district, in District No.5, said Mostafa Fahmy, Head of the Authority.