amwalalghad :: Real Estate

Your English Portal To Arab Economy

Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        


Business - Real Estate

Maha Essam - 2014-07-06 12:17:13
 Chairman of Mortgage Finance Fund (MFF) Mai Abdel Hamid said the volume of subsidiary which provided by the fund for 13.000 residential units as the first phase of 'Social Housing Project' reached up EGP225million. Egyptian Housing and Urban Communities Ministry offered 13.000 units for the citizens by mortgage finance system representing the phase I of Central Bank of Egypt's initiative to support low-income people as a first phase and Middle-income as a second phase with the presence of 4 banks including National Bank of Egypt (NBE), Banque Misr, Banque Du Caire and Housing and Development Bank (HDB). The unit will be provided with cost ranges from EGP10 to 25 million, the initiative will help the fund to finalise the second segment of World Bank's loan worth EGP900 million during the new fiscal year, Abdel Hamid spoke to Amwal Al Ghad. More»
Gehad Abd El-ghany - 2014-07-06 09:49:08
Egypt-based SODIC's fully owned subsidiary SOREAL for Real Estate Development signed Thursday with Arab African International Bank (AAIB) a medium-term contract for EGP 950 million loan. SODIC, added in a statement to the Egyptian Exchange (EGX) on Sunday that the loan will go for financing a part of the cost for intended project in New Cairo district on a space of 301 feddans, the company recently acquired. The company considered this land an addition to its portfolio which will be developed to become a complete urban community, which will provide thousands of job opportunities. More»
Amwal Al Ghad English - 2014-07-03 11:00:05
The listing committee of the Egyptian stock Exchange (EGX) has approved on Thursday Amer Group (AMER.CA)'s request to raise issued capital to EGP 1.368 billion, from EGP 547.145 million. Last Monday, Egyptian real estate company Amer Group's Board of Directors approved to increase the company's issued capital from EGP 547,145,357 to EGP 1,367,863,393 using reserves and adjusting the stock par value to EGP 0.30 instead of EGP 0.12. The capital top-up will be financed through the reserves in the financial statements for FY2013 which was approved by the Ordinary General assembly on March 20, 2014. More»
Amwal Al Ghad English - 2014-07-02 09:48:08
Political unrest in Egypt is not affecting work on the mall, confirms George Kostas, CEO of UAE-based retailer Majid Al Futtaim Properties. Mall of Egypt, the 160,000-square metre mega-mall being developed by Majid Al Futtaim (MAF) Properties in Cairo, is proceeding on track despite unrest in the country, a senior official confirmed. “We are on track to deliver it by January 2016,” George Kostas, the CEO of MAF Properties told Gulf Business. “We faced some delay last year for one or two months, but the contractor is doing well. They are making good progress on the site. “I’m very pleased that we have worked around three and a half to four million man hours on the site without one major incident – no fatalities or major injuries on site, which is an outstanding outcome so far.” He added: “I’m confident we will carry that track record all the way to the end.” The $800 million project, dubbed as being a sister brand to Mall of the Emirates in Dubai, will feature international fashion and lifestyle retail brands, a ski park, a 17-screen cinema, a family entertainment centre and over 50 food and beverage outlets. The construction contract, worth $400 million, was awarded to a 50-50 joint venture between Orascom Construction and BESIX Group in 2012. While the original completion date was set for summer 2015, it has since been moved to early 2016. GROWING TURMOIL Egypt has been in a state of unrest since 2011, when former dictator Hosni Mubarak was toppled by public protests. A parliamentary election held in June 2012 led to the appointment of the Muslim Brotherhood’s Mohammed Mursi as Egypt’s president. However, he was again ousted from power last year by the military, leading to mass protests across the country. Earlier this year, former military man Abdel Fattah el-Sisi took charge as Egypt’s new president. Despite the chaotic situation in the North African nation, Kostas says the company is confident about the country’s future. “I think the situation in Egypt is very different to other parts of the region – the Egyptians are very proud people, very concerned and careful about what happens to their country. I think this is an opportunity for Egypt to consolidate and build itself and there’s enormous amount of support from its population for it to succeed. “So from that perspective what happened last year for us didn’t disrupt our business at all. In fact we reconfirmed our support for our investment in the country – we have been there for almost 20 years. “We have taken a long-term view – we like Egypt, we like the opportunity it offers our businesses, we are very committed to the country and as a result, people have supported us,” he added. More»
Amwal Al Ghad English - 2014-06-30 13:15:33
Egypt's Amer Group Holding (AMER.CA) announced on Monday, in a statement to the stock exchange, that it hired Grant Thornton Financial advisors represented by Ashraf El Sharkawi, Principal Partner, to provide consulting services for the financial restructuring of the company and its subsidiaries. More»
Amwal Al Ghad English - 2014-06-30 10:40:32
Egyptian real estate company Amer Group's board of directors approved on Monday increasing the issued capital to EGP 1.368 billion, from EGP 547.145 million. The capital top-up will be through using reserves and adjusting the stock par value to EGP 0.30 instead of EGP 0.12. This increase will be financed from the company’s reserves in the financial statements for FY2013 which were approved by the ordinary general meeting held on March 20, 2014. Amer (AMER.CA)’s Q1 net profit fell to EGP 2 million, down from EGP 15.3 million in the same period a year earlier. More»
Amwal Al Ghad English - 2014-06-26 08:52:56
A housing development company owned by Egypt and Saudi Arabia said on Wednesday it was increasing its capital by $245 million, a four-fold rise, to build houses in Egypt, in a further sign of support for the country from its key Gulf ally. Egyptian state news agency MENA said Saudi Arabia would inject $124 million dollars into the Saudi Egyptian Construction Company (SECON), with Egypt contributing 100 feddans (103.8 acres) of land in three cities worth about the same amount. Saudi Arabia and its Gulf Arab neighbours Kuwait and the United Arab Emirates have given more than $20 billion to help Egypt since the ouster of Islamist President Mohamed Morsi last July following mass protests, leading to the election of Abdel Fattah al-Sisi as president last month. Saudi King Abdullah stopped in Cairo briefly last week to meet with Sisi in a symbolic visit that demonstrated the king’s strong support for the former army chief. The Gulf monarchy sees Cairo as a crucial partner against the rise of radical Sunni Islamism in the region. According to MENA, Egyptian Housing Minister Mustafa Madbouly told reporters the investment would be used “to establish a large number of housing units to encourage initiatives to build medium-income housing units”, without providing specifics. Arabtec Holding, Dubai’s largest-listed construction firm, agreed with the Egyptian army in March to build one million houses for lower-income households in one of the region’s biggest projects valued at $40 billion. More»
Marwa Hemdan - 2014-06-25 11:12:41
Emaar Properties' Egyptian subsidiary, Emaar Misr will spend up to 250 million Egyptian pounds (around $35 million) to implement a new bridge links New Cairo to Mokattam district, Cairo governor Galal El-Saeed said. According to the Egyptian official, Emaar Misr has expressed readiness to cooperate with the Transportation Ministry's General Authority for Roads, Bridges & Land Transport (GARBLT) and Cairo authorities, so as to conclude the new bridge within the current phase. As part of its 4.5 million square metre development called Uptown Cairo, Emaar Misr will implement the bridge project, seeking to overcome the congestion and space constraints in downtown Cairo and facilitate commuting to and from central Cairo to New Cairo. Emaar Misr is expected to finalise the bridge project in less than a year, said El-Saeed. More»
Amwal Al Ghad English - 2014-06-25 09:57:38
Cairo Investment & Real Estate Development (CIRA) declared that the statements made by the company's board member, Sayed Elkalla, regarding the Fair Value does not represent the company and was in his personal capacity. The company added, in a statement to the stock exchange, that it denounces these statements due to their impact on minority shareholders especially when they contain false or incomplete information. The independent financial advisor, Baker Tilly Wahid Abdel Ghaffar & Co, which was hired to evaluate the fair value is not done with his report yet said the company. In a statement to AlBorsa newspaper yesterday, Sayed Elkalla, board member of the company, criticized the mandatory tender offer submitted by Huxley Holdings Ltd, subsidiary of Abraaj, for LE 20.5 per share to acquire the minority stake in the company while claiming that the Fair Value of the shares is LE 60 after the non-productive assets get in production during the next academic year. More»
Amwal Al Ghad English - 2014-06-23 09:55:43
The dispute between Palm Hills Development (PHDC) and Matrouh Governorate has been renewed over the company's dues which was payable more than a year ago. The investment division of the administrative court held a hearing yesterday, June 22, to look into the case of Palm Hills company versus Matrouh governor wherein the company demanded LE 231 million repayment which the company paid for the allocation of 2230 feddans in the governorate in 2007. The Matrouh governorate allocated 3 land plots to Palm Hills Development located in Marsa Matrouh international road. However, the company could not acquire the approval of the Armed Forces to execute any projects. More»