SODIC’s Home Sales Hold Strong in H1 Despite Pandemic

Sixth of October for Development and Investment Company's (SODIC) gross contracted sales of residential units stood at EGP 1.83 bn in H1 2020, almost flat compared to EGP 1.86 bn in the year-ago period.

EBRD Approves USD 12 mn Loan for Hyatt Regency Cairo West

The European Bank for Reconstruction and Development (EBRD) has approved the provision of a USD 12 mn (EGP 192 mn) long-term loan to bankroll the construction of the second Hyatt-branded hotel in Egypt, located in ...

SODIC Uncovers Pre-Launch of Solar-Powered Phase II in VYE

Sixth of October for Development and Investment Company (SODIC) has unveiled the pre-launch of phase II of its latest New Zayed project, or "VYE," introducing a limited range of solar-powered homes.

NBE, IGI Agree on EGP 600 mn Facility for West Cairo’s Ashgar City

Egypt-based developer IGI Real Estate has agreed on a loan facility from the National Bank of Egypt (NBE) to finance the construction of its flagship project in 6th of October City, named "Ashgar City," with the f ...

Cabinet Nods USD 500 mn World Bank Housing Facility Extension

Egypt's Cabinet has ratified a USD 500 mn (EGP 8 bn) extension to a World Bank (WB) facility, as part of a program to improve access to low-income housing and bolster the state’s Social Housing and Mortgage Financ ...

Savills to Manage, Market West Cairo’s Ivory Business Park

International real estate consultancy firm Savills has been appointed to offer property management and agency services for west Cairo's Ivory Business Park (IBP), which is set to launch mid-2021.

ODE Adds 2 NIS Schools to O West at Over EGP 500 mn

Orascom Development Egypt (ODE) and Dr. Nermien Ismail Schools (NIS) have joined forces to develop two new international schools in the former Egyptian developer's O West project, at costs exceeding EGP 500 mn.

El Gazzar Says 2,500 Houses for Giza Slum Dwellers 37% Done

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar said 2,500 houses are under construction in October Gardens, designated for Giza's informal housing residents, hitting a completion rate of 37% ...

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.

Gov’t Delivers Almost 800 Social Housing Units in New October

West Cairo's New October City is witnessing the gradual handover of 792 social housing units in the 800-acre neighborhood.

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