Latest in Tag: Construction Highlight
Latest in Tag: Construction
dmg events to hold The Big 5 exhibition in Egypt’s $335bn construction market
dmg events, an international exhibitions company based in Dubai, said that it will hold The Big 5 exhibition in Egypt from 18-21 September, at the Egypt International Exhibition Centre (EIEC) in 2018. dmg added that The Big 5 Construct Egypt will be the second largest construction show after The Big 5 Dubai. The show’s first …
IFC provides first loan to support Egypt’s construction industry
The International Finance Corporation (IFC), a member of the World Bank Group, is providing a $15m loan mainly in Egyptian pounds to Vinavil Egypt for Chemicals, a leading manufacturer of construction-related materials, to help the company boost production and create jobs, according to a press statement on Wednesday. The statement said that the IFC’s financing …
Capital Group allocates EGP 3bn for Al Burouj project construction
Company invests $300m in Al Burouj project
Construction companies underwent EGP 200bn in construction works in 2017
Sector is first to pay taxes to state, says Abdel Aziz
ARCO to pump EGP 1.7bn into construction contracts in 2018
Company targets achieving 20% increase in sales this year, says executive director
Emaar Misr awards construction contracts worth EGP 2bn for phase one of Marassi Marina project
Construction of the Marina basin is expected to be completed by 2020
EGP 44bn cost of projects implemented in Cairo during an entire year
Cairo governorate showed the highest percentage of projects executed in the field of construction, according to Central Agency for Public Mobilisation and Statistics (CAPMAS). CAPMAS said that the projects executed in the capital amounted to EGP 44.8bn, out of a total of EGP 56.4bn, which is the value of construction projects executed by private sector companies …
Property price hikes revive participatory construction initiatives
In the last two years, a number of initiatives have been launched that offer residential units at costs less than market prices by up to 50% in several new cities, including New Cairo and Sixth of October City. The idea of the initiative is to assemble a group of customers corresponding to the number of …
41.7%, increase in value of implemented operations in building and construction sector by private sector in 2016
The Central Agency for Public Mobilisation and Statistics (CAPMAS) issued on Monday its annual bulletin of building and construction statistics for private sector companies in 2016. The statistical bulletin stated that the value of building and construction operations that have been implemented by private sector companies increased by 41.7% to reach EGP 56.4bn in 2016, …
‘Concept’ pumps EGP 20m in Siela Resort first phase construction
Concept Real Estate Group pumped EGP 20m into construction works of the first phase of the Siela Resort North Coast project, according to Siela Chairperson Ehab Abou El Magd. Abou El Magd added that Concept has completed the infrastructure of the project and concrete works of the first phase’s buildings. The Siela project is located …
Small construction companies demand banks to support them
The small and medium-sized companies working in the construction sector demanded that the financing obstacles faced by these companies, especially the serious companies qualified to participate in the development plan adopted by the state, be canceled. According to Daker Abd Allah, a member of the board of directors of the Egyptian Federation For Construction & …
Chinese investor urges increasing construction part in $17m project
The Sound, Light, and Cinema Company owns the project’s land of 42,000sqm
Construction prices increased by 35-40% after devaluation of EGP: developers
The supply of real estate units in only 6 months is equal to the supply in previous10 years, says Ismail
16.3% increase in public sector’s construction operation value in 2015/16
Total value of roads, bridges, and tunnels reached EGP 8.7bn, up from EGP 7.8bn in 2014/15
Compensation Law rescues 5,000 construction companies from bankruptcy: Egyptian Federation for Construction
Sahl Al Damrawi, member of the Egyptian Federation for Construction and Building Contractors, said that the issuance of the Compensation Law saved more than 5,000 construction companies from bankruptcy and the laying off thousands of workers. Al Damrawi said that these companies were challenged with the rise of all prices of building materials, which have …
Payment of compensation for construction companies in August: deputy housing minister
Prolongation of the disbursement period will not solve the crisis, as there were promises by the government to pay these companies 16 months ago, says Al Damrawi
Construction companies face significant losses due to delayed compensation: Egyptian Federation for Construction
Construction companies have been waiting for the payment of compensation for more than a year, and not one pound has been disbursed so far, says Al Damrawi
Fuel prices increase construction costs by 15%
Recent economic reform decisions raised administrative expenses and profits of contracting companies by 30%, says Abdellah
From flotation to energy price hikes: how construction materials companies are affected
The Egyptian state is seeking to reduce fiscal expenditures through fuel subsidy restructuring
Dar Misr auctions increased prices of commercial units in new cities
Brokers increased the value per square metre to record levels, provided resale offers after the auction
Hyde Park to offer new tenders to speed up construction process
The company says it has received all the necessary licences for its project and will take legal action against those who aim to affect its interests
CGP to sign construction contracts worth EGP 1bn in first 4 months of 2017
Companies must search for new patterns of development to keep pace with pound’s flotation consequences
Pound flotation was mandatory, sector faces difficulty in marketing new units: real estate investors
The flotation of the Egyptian pound has increased the cost of construction
Business volume for construction companies affiliated to HCC declines after pound’s flotation
Roland Construction demands 50% price difference from the value of remaining works
Exports of building, construction materials doubled to EGP 41bn in 2016
Egypt’s exports of construction materials has doubled in 2016 to record EGP41.93bn compared to EGP21.93bn during 2015, according to Waleed Jamal Al-Din, president of the Export Council for Building, Refractory and Metallurgy Industries (ECBM). Jamal Al-Din said exports surpassed plans and expectations set by ECBM, adding that they had aimed to increase exports by EGP …
Ministry of Housing poses construction of hypermarket to commercial chains to put up for rent and usufruct
The Ministry of Housing has offered the construction of a number of hypermarkets to commercial chains in Upper Egypt’s cities and towns, as well as in Sadat and Borg El-Arab cities, to put them up for rent and usufruct. Minister of Housing Mostafa Madbouly said the offer includes the implementation of a number of hypermarkets …
Construction companies threaten to halt work on social housing projects due to flotation
Housing Ministry considers increase in value of social housing units by EGP 20,000, says source at ministry
Real estate developers await stability in prices of construction material following pound’s flotation
The CBE’s decision to float the Egyptian pound is viewed as a positive step for the real estate sector and is expected to promote market stability, say developers
$460m loan from Japan to finance construction of Grand Egyptian Museum
Minister of International Cooperation Sahar Nasr and Japanese ambassador to Egypt Takehiro Kagawa signed on Monday a $460m loan to finance the second phase of the Grand Egyptian Museum. Minister of Antiquities Khaled El-Anany also signed the loan agreement for the project with Teruyuki Ito, chief representative of the Japan International Cooperation Agency (JICA). Nasr …
Metropolitan Egypt provides EGP 260m in financing to 16 companies over 3 months: CEO
Metropolitan Egypt for consultancy has succeeded in providing financing worth EGP 260m to 16 companies over the past three months. The company collaborated with a number of banks and leasing companies operating in the domestic market, according to the CEO of the company Khaled Nagaty. The 16 companies operate in different economic activities, such as …