Emaar Misr Sees 517% Profit Jump in H1 2020

Emaar Misr for Development saw a 516.7% year-on-year (YoY) surge in net profit to log EGP 581.53 mn in H1 2020, compared to EGP 94.29 m in the year-ago period.

SODIC Awards Over EGP 1.2 bn Tenders for SODIC East in 2 Yrs

Sixth of October Development and Investment (SODIC) has awarded more than EGP 1.2 bn worth of construction tenders to develop its SODIC East project over the last two years.

Minka to Launch its Largest Project in East Cairo in 2M

CEO of Minka Development Abdullah Salam said the company is on the verge to finalize its "latest and largest project" in east Cairo, attempting for launching within the next couple of months.

Egypt, China to Build EGP 303 mn Substation in Madinaty II

The Egyptian Electricity Transmission Company (EETC) has partnered with a Chinese consortium to build a substation in Madinaty II, east Cairo, at costs estimated at EGP 303 mn.

SODIC Sees 25% Rise in Home Sales Albeit Fewer Releases

Sixth of October Development and Investment Company (SODIC) logged a 25% uptick in residential contractual sales in Q1 2020, registering EGP 842 mn versus EGP 672 mn in the year-ago period, driven mainly by its we ...

The Waterway Releases EGP 4 bn Business Hub in New Cairo

Egypt's property developer The Waterway has rolled out its latest integrated business hub in New Cairo, called “5A,” with investments valued at EGP 4 bn, fusing administrative, commercial, and recreational service ...

New Cairo’s Obour Axis Sees EGP 170 mn Revamps

Assistant Vice-Chairman of New Urban Communities Authority (NUCA) Gamal Talaat said the upgrading of New Cairo's Obour Axis is underway, which connects 90 Road to Ain Sokhna Road, with investments worth EGP 170 mn ...

SODIC, CIB Ink EGP 1 bn Facility to Finance EDNC

Egypt’s Sixth of October for Development and Investment Company (SODIC) has announced that its wholly-owned subsidiary, SOREAL, signed a medium-term facility worth EGP 1 bn with Commercial International Bank (CIB) ...

MNHD Nods to EGP 150 mn Facility from United Bank

The Board of Directors (BoD) of Madinet Nasr for Housing and Development (MNHD) has approved an EGP 150 mn credit facility extended by the United Bank.

Zahraa Maadi Eyes Integrated Compound in New Heliopolis

Egypt-based Zahraa Maadi Investment and Development plans to build a 34-acre integrated residential and commercial development in New Heliopolis, east Cairo.

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