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Somabay Records 155% Surge in Profits in H1 2024

Somabay, a leading company in tourism investment and the developer behind the renowned Somabay peninsula, disclosed profits of EGP 102 mn in the first half of 2024, denoting a remarkable 155% surge compared to the corresponding period last year, Invest-Gate reports.

Egy Holding Completes Construction of Epic Complex Project to Fitwel International Standards

Egy Holding Developments has proudly announced the successful completion of all construction phases for the groundbreaking "Epic Complex" project in the New Administrative Capital (NAC), marking a pioneering achievement as the first endeavor in Egypt and the Middle East to adhere to the stringent international standards set forth by the Fitwel Organization for promoting healthy and sustainable building practices, Invest-Gate reports.

El Batal Developments Engages JLL for Integrated Property Management Services at Rock Gold Mall

El Batal Developments has engaged JLL, a global professional services firm specializing in real estate, investment management, and development consultancy, to oversee property management duties for Rock Gold Mall, the inaugural gold and beauty mall in the Fifth Settlement of New Cairo, Invest-Gate reports.

Mardev Developments Partners with Hilton to Launch Hilton Garden Inn Cairo New Zayed

Mardev Developments has entered a partnership agreement with Hilton to introduce Hilton Garden Inn Cairo New Zayed, Invest-Gate reports.

Dubai Developments Introduces “Lumia Lagoons” as Fourth Project in NAC

Dubai Developments has unveiled its fourth project in the New Administrative Capital (NAC), named "Lumia Lagoons," spanning 37 feddans in the R8 area, Invest-Gate reports.

Dubai Land Department Suspends 10 Property Owners from Leasing Activities

DLD announced on Monday that it has suspended 10 property owners from renting or re-renting their properties due to non-compliance with occupancy, health, and safety regulations, Invest-Gate reports.

International Artists Showcase Masterpieces at Art Space Exhibition in North Square Mall in New Alamein Under the Auspices of Counsel Masters

Art Space and Ostraca Arts, under the guidance of Counsel Masters, are hosting the "Art Space" Contemporary Arts Exhibition starting on August 24 for a 15-day duration at the "North Square Mall" in New Alamein City, Invest-Gate reports.

MARAKEZ Introduces Adrère Amellal Eco-Lodge to Egypt’s North Coast

MARAKEZ, Egypt’s premier and award-winning mixed-use real estate developer, has announced a partnership with the esteemed Adrère Amellal Eco-Lodge for its flagship project on Egypt’s North Coast, Ramla, set to debut in Summer 2027, Invest-Gate reports.

UAE Real Estate Companies Demonstrate Robust Profit Growth in 2024

The real estate sector in the UAE has continued to flourish in Q2 2024, with real estate development companies in Dubai and Abu Dhabi growing by 29%, recording 5.7 billion dirhams ($1.5 billion).

Housing, Local Development Ministers Meet with UN-Habitat Regional Director to Monitor Preparations for Egypt to Host WUF12

Sherif El Sherbini, Minister of Housing, Utilities, and Urban Communities; Manal Awad, Minister of Local Development; and Rania Hedeya, the Regional Director of the United Nations Human Settlements Programme (UN-Habitat), convened an extensive meeting to oversee the arrangements for Egypt's hosting of the 12th session of the World Urban Forum (WUF12) this coming November in collaboration with UN-Habitat, Invest-Gate reports.

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