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Subletting social housing units still incessant

Daily News Egypt received some complaints from unit’s owners, noting that the subletting of the units is still incessant. Some owners are offering up their properties to workers and families at prices ranging from EGP 700-1,000 a month.

Shaimaa Al-Aees

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 …

Shaimaa Al-Aees

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 …

Daily News Egypt

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, …

Nihal Samir

‘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 …

Shaimaa Al-Aees

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 & …

Hossam Mounir

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 …

Daily News Egypt

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 …

Hisham Salah