Latest in Real Estate Highlight
Latest in Real Estate
Amending real estate appraisal comes in favour of state projects: source
Parliament’s economic committee approves new Egyptian criteria for real estate appraisal
Palm Hills reports sales growth of 5% y-o-y
“We intend to engage in further securitisation and discounting transactions in FY 2019,” says Mansour
Financial leasing companies direct EGP 2.4bn into market end-April
Mortgage finance companies offered loans worth EGP 392.7m during April 2019
Egypt to launch EGP 20bn worth medical tourism city in Badr
Project to be built over 109 feddan within five years
DETGD calls for communications unit within each new city
Egypt is making strong strides in the field of digital transformation, Internet of Things (IoT), and artificial intelligence (AI) through the creation of smart cities and communities, which will put it in the ranks of technologically advanced countries in the coming period, he noted
CBE’s mortgage finance interest rate projected to reach 8-12%
The Egyptian Real Estate Council proposed to set an interest rate of 8-12% on mortgage finance for middle-income housing units
Real estate developers aim to participate in state’s social, middle-income housing
The minister explained that the partnership reflects the mutual trust between the government and the private sector
Progate, Memar El Fouad inks EGP 2.5bn contract to develop Zavani project in NAC
The project is located in the R7 diplomatic area overlooking the main road, and will offer 1,376 housing units varied between luxury apartments, duplexes, and penthouses with areas ranging from 122 sqm to 366 sqm. Fahmy noted that the company plans to begin project delivery in 2023.
Inertia’s real estate inventory reaches EGP100bn
Company’s land bank worth more than 7.5m sqm
City Edge signs EGP 1.6bn worth of construction contracts for 2 projects
During the company’s press conference on Wednesday, Amr El Kady, CEO of City Edge said that the first contract was signed with ASGC Group for EGP1.4bn for the Etapa Square project except for the hotel part of the project, which is being implemented until 2022.
Edge Holding achieved EGP 500m in sales of OIA project H1 2019
The OIA project is spread over 30 feddan in the NAC, composed of only 20% of building areas, which include 1,300 units.
Misr Italia achieves EGP 2bn in sales of its projects in 5 months
Company paying land instalments worth EGP 900m to ACUD during 2019, says Co-CEO
Better Home completes concrete works of Midtown Villa in NAC
Company intends to expand in NAC with more residential, commercial projects, says general manager
IWAN launches 2 projects in Ain Sokhna, New Cairo
Company has achieved EGP 4bn in sales during 2018, says CEO
Arkan Palm contracts with Gensler to develop 205-feddan project’s masterplan
Project’s investments worth EGP 59bn, says Badr El-Din
Akam launches 3rd phase of Scenario compound
Amer revealed that the company plans to inject EGP 300m in investments in the third phase of ClubView that will comprise of units with sizes ranging between 132-452 sqm.
Albostany markets 50% of medical centre with EGP 250m investments
Launching residential, administrative project in Degla Maadi area soon
DOJA markets 50% of Aurora project within nine months
Company plans to deliver project in May 2022, says sales manager
SODIC to pay EGP 1.2bn of outstanding land dues in 2019
Company plans to offer second phase of Malaaz North Coast project in July, says managing director
SODIC’s advance cheques for real estate projects reach EGP 11.4bn
Company disburses EGP 1.8bn out of EGP 3.2bn worth credit facilities
Royal aims to achieve EGP 250m in sales of its projects during 2019
Company will deliver 8 residential buildings during current year
Mariout Hills invests EGP 162m in first city for sports medicine
City will receive about 18,000 athletes annually
Real estate council submits proposal to meet challenges of real estate investment
The proposals would help to coordinate between the four entities in order to find innovative solutions to some of the problems affecting the growth of real estate investment in Egypt.
New Avenue achieves EGP 5bn in sales for developers in 3 years
El-Dessouky further noted that the company achieved sales exceeding EGP 2bn for developers in 2018.
Master Group launches largest water park in Ain Sokhna with EGP 3bn investment
Lasheen noted that the two projects’ investments amounted to EGP 12bn.
Jdar Group launches second phase of Sea View North Coast
Fakhry added that the company offers its customers discounts for a limited period up to 20% when contracting on the second phase of the project, noting that the second phase is scheduled to be delivered in 2021.
SODIC revenues grow 84% to EGP 941 in 1Q19
According to the press statement, the strong growth in revenues was driven mainly by Villette which contributed to circa 50% of the delivered value.
Talaat Mostafa Group achieves EGP 4.4bn sales, EGP 476.7m net profit in Q1 2019
TMG Holding announced an increase of its property revenue to EGP 1.2bn by end March
Talaat Mostafa Group: Egypt’s leading real estate developer
In 2018 TMG achieved EGP 1.7bn in profits, followed by MNHD with EGP 1.08bn, Palm Hills EGP 811.7m
Intelli-Cities exhibition to be held in December with participation of 15 real estate developers
New Administrative Capital expected to participate in Intelli-Cities: Kamal