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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        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        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        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        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        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        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        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 - 2014-12-18 11:27:42
Egypt's Ministry of Housing, Utilities & Urban Development announced Today new facilities for Dar Misr project for medium-income housing units in response to buyers' demands. One of the most notable facilities is to prolong the time for payment to be 5 years instead of 4. Mostafa Madbouly - Minister of Housing - clarified that the newly-agreed type of payment would be; 10% as in deposit and 10% in form of contractual payment. He added that after making the contractual payment, quarterly payments worth EGP 7.500 for small unites and EGP 10.000 for large ones would be paid. "Buyers of 100-115 metre units shall pay EGP 7.500 as quarterly payment totalling EGP 30.000 annually; while buyers of 130, 140, and 150 metre units shall pay EGP 10.000 as quarterly payment, totalling EGP 40.000 annually" the minister noted. To meet buyers' requirements, the minister said by end of the first year, the remaining payment would be made in two forms; paying through mortgage finance or through 16 quarterly payments with no direct interest rates to the New Urban Communities Authority (NUCA) Madbouly affirmed that those facilities would prolong the time for payment to 5 years with no interest rates. About mortgage finance, minister affirmed that, as pursuant to the most recent approvals by the Central Bank of Egypt, unites would be funded through the CBE's mortgage finance initiative till EGP 500.000 per unit with 8 % declining interest rates. More»
Amwal Al Ghad English - 2014-12-18 08:38:41
Egyptian Ambassador to Ethiopia Mohamed Idris announced Wednesday that the Arab Contractors company will be involved in the implementation of the Ethiopian section of the Cairo-Cape Town road. Idris said the move comes as part of mutual cooperation between Egypt and Ethiopia in developing infrastructure, an Egyptian Foreign Ministry statement said Wednesday. He added that this reinforces economic development in Ethiopia and is "recognition of the competence of Egyptian companies" in accomplishing such important projects. The road in Ethiopia will stretch for approximately 170km in the country, and is funded by the African Development Bank. It is part of the Mombasa-Nairobi-Addis Ababa corridor and is part of the planned Trans-African Highway Cairo-Cape Town, which will run for thousands of kilometres to link Egypt to South Africa. Idris said the move also comes as part of Egyptian interests in making a serious contribution in projects that have an "African dimension". This would support the creation of links between countries in Africa and reinforce African integration projects. The move comes after years of tensions between Egypt and Ethiopia, which is currently constructing the Grand Ethiopian Renaissance Dam (GERD). Egypt, a downstream country, fears that the dam's completion will affect its share of Nile Water and thus GERD has been a point of contention between the two countries. As per agreements signed in 1929 and 1959, Egypt annually receives 55.5bn cubic metres of the estimated total 84bn cubic metres of Nile water produced each year Sudan receives 18.5bn cubic metres. The two water sharing agreements, which guarantee Egypt the lion's share of water, were signed in the absence of Ethiopia. Arab Contractors employs 77,000 employees and has business activities in more than 29 countries, with experience in building bridges, roads, tunnels and airports. More»
Amwal Al Ghad English - 2014-12-16 16:40:59
Egyptian luxury-home developer Six of October Development & Investment Co. is in “advanced” talks with the government to buy land it will use to expand outside of housing. The builder of suburbs to the east and west of Cairo plans to construct office and retail developments as well as resorts that include hotels, homes and leisure facilities, Managing Director Ahmed Badrawi said in an interview at his office in the capital yesterday. The developer, known as Sodic, expects sales to reach a record 3 billion Egyptian pounds ($420 million) this year, he said. “The key message going forward for the next few years is diversifying out of pure residential,” Badrawi said. “Once you have a stable recurring revenue stream, it helps you a lot for future bumps in the road.” Like other Egyptian developers, Sodic has spent the last several years embroiled in legal disputes over land it obtained under the regime of President Hosni Mubarak, who was overthrown in 2011. The last settlement, involving its Eastown project, was completed on April 6 and the stock has risen 84 percent since. Sodic reported third-quarter net incomeof 19.4 million pounds, down from 28.5 million pounds a year earlier, according to data compiled by Bloomberg. The developer plans to invest about 13 billion pounds in the land it already owns, Badrawi said. The first phase of the 7 billion-pound Vilette residential project will start “imminently” on a plot east of Cairo that the company purchased recently, he said. The government is offering Sodic various parcels of land in the Nile Delta city of Mansoura for a 310 million-pound mall project after local objections cast doubt on the original site. Sodic will see if the sites are desirable, Badrawi said. More»
Amwal Al Ghad English - 2014-12-15 10:27:01
Cameroonian Housing Minister Jean Claude Mbwentchou has started Saturday his visit to Egypt, which will last for several days. The visit comes in response to Egyptian Housing Minister Moustafa Madbouly’s invitation to his Cameroonian counterpart to visit the country with the aim of boosting bilateral housing cooperation. These remarks were made by the Egyptian ambassador to Cameroon, Sherif Elleithy to the state-run news MENA agency on Monday. According to El-Leithy, the Cameroonian housing minister is due to discuss with his Egyptian counterpart the methods of enhancing relations between the two countries in the housing field.  Mbwentchou will also review the efforts being exerted to encourage more Egyptian contracting companies to enter the Cameroon’s flourishing construction market. Moreover, Mbwentchou is also expected to sign a memorandum of understanding in field of housing and civil development with his Egyptian counterpart. He plans to hold meetings with the chairmen of the Arab Contractors Company, and of the General Organization for Physical Planning. From his part, Ambassador El-Leithy has emphasised on the importance of paving the way for the Egyptian contracting companies to enter the Cameroonian market so as to implement giant infrastructure projects there, which were recently announced by Cameroonian President Paul Biya.*This story has been translated and edited by Amwal Al Ghad English. More»
Marwa Hemdan - 2014-12-07 12:37:04
Cote D’Ivoire will be inaugurating next February its Jacque Ville Bridge, one of Egypt-based Arab Contractors’ biggest projects in Africa. In this respect, Cote D’Ivoire President Alassane Ouattara has invited Egyptian Prime Minister Ibrahim Mahlab to attend the inauguration ceremony of Jacque Ville Bridge, which was implemented by Egyptian leading construction company Arab Contractors, at investment cost of EGP 250 million. Jacque Ville Bridge, a 534-meter long and 10-meter wide structure spanning the Ebrie Lagoon, will link Jacqueville City and capital Abidjan on the mainland. The project aims at the reduction of using ferries and boats between ‎the two sides of the lake, and participates in saving the time and ‎development of industrial and tourism activities in the coastal areas ‎and improvement of traffic from Jacque Ville to centre, north, east ‎and west of the country. It will also facilitate the trade of agricultural produce. Presidents of Senegal, Togo, Guinea-Bissau, and Congo-Brazzaville have requested for AC’s presence to carry out more national projects in their countries as for being one of the leading construction firms in Africa, head of AC’s African sector Ashraf Rateb said on Sunday. The AC official referred that Equatorial Guinea’s President Teodoro Obiang Nguema Mbasogo agreed with Arab Contractors to immediately start carrying out a new housing city of 1000 fully-utilised units, with investment cost of US$150 million in Oyala. AC had recently completed a major housing project, the Fish Town, in Malabo, the capital of Equatorial Guinea. During his latest visit to Equatorial Guinea, Congo-Brazzaville’s President Denis Sassou Nguesso commended AC’s efforts and works in Fish Town, and called the Egyptian company to establish a representative office in Congo-Brazzaville to implement multiple infrastructure and road projects there. More»
Amwal Al Ghad English - 2014-12-06 08:35:00
Palm Hills, Egypt's second-largest listed real estate developer, will begin investing in commercial properties next year and expand its residential operations to meet higher anticipated demand, its co-chief executive said on Thursday. The return of foreign investors scared away by nearly four years of political turmoil is raising expectations for the company, which turned a corner after facing client cancellations and investigations into previous state land sales following a popular uprising in 2011. A flight by foreign companies from violent unrest following the overthrow of elected President Mohamed Morsi in mid-2013 threatened to drive up vacancy rates at offices and malls and prompt international investors to shift funds to other markets. But Tarek Abdel-Rahman said a nascent economic recovery fuelled by foreign investors - which the government is courting with structural reforms and an array of mega-projects - was creating demand for commercial space. "With all these investments coming from the Gulf and coming from the West, sooner or later they will establish a foothold here," he told Reuters in an interview at his office. He did not say how much Palm Hills planned to invest in commercial property - a new business area for the company. Egypt's economy is set to grow 3.3 percent this fiscal year, according to economists polled by Reuters, who nudged up their forecasts as confidence has started to return. The projection is close to the government's prediction of 3.5 percent growth. Gulf Arab allies have supported Egypt with billions of dollars in aid since Morsi's ousting. Investors have more recently eyed Egypt's food industry, with bids from Kellogg Co, Dubai-basedAbraaj Investment Group, and Denmark's Arla Foods. The real estate sector has also seen activity, with the UAE's Aabar Investments and New York-based private equity firm Ripplewood taking stakes in Palm Hills this year. Palm Hills has said it is targeting up to 35 percent of its revenues over the next three to five years to come from commercial properties. It also plans new investments in its core activity of residential development, and is considering land purchases in east Cairo where current inventory is expected to have been sold by June. The company, reported a 152-percent jump in third-quarter net profits last month propelled by a spike in sales after it delivered more properties to market, including a billion pounds worth of sales in vacation homes on the north coast. "The more foreigners come in and invest, the more people have jobs, the more they have money, the more they can buy real estate," said Abdel-Rahman. "People are more optimistic. They think the country's going in the right direction." More»
Marwa Hemdan - 2014-12-03 15:15:24
Towards more flexible procedures to carry out projects in Egypt, contractors from the Arab world may gain memberships of the Egyptian Federation for Construction and Building Contractors (EFCBC). According to EFCBC chairman Hassan Abdel Aziz, the federation is studying a proposal to grant Arab investors an active membership so as to enable them to implement upcoming construction projects in the North African country. The federation has received many official requests from a number of major contractor companies in the Arab world applying for EFCBC’s membership, with the aim of expanding their volume of businesses in Egypt in the current phase, Abdel Aziz elaborated. The Egyptian official further said EFCBC is keen to maximise the volume of joint businesses between Egyptian and Arab contractors. More»
Amwal Al Ghad English - 2014-12-02 10:40:13
Dubai-based contractor Arabtec Holding will submit within two weeks a final feasibility study on the one million new homes in Egypt, said Egyptian housing minister. During an interview on Monday with Al Arabiya TV, minister Mostafa Madbouly said his ministry expected to receive Arabtec’s finalised feasibility study on the Egyptian giant housing project within two weeks. The national housing project set to provide one million new housing units is aiming for the units to be constructed within five years, with investments of up to 40 billion and using 160 million square metres. The project will be carried out in cooperation with Emirati Arabtec LLC, one of the largest construction companies in the GCC for construction and real estate development. The project will be located in 18 governorates across Egypt, including Cairo, Ismailia, Sharqeya, Daqahleya, Menufiya, Kafr El-Sheikh, Gharbeya, Beheira, Fayoum, Assiut, Sohag, Qena, Luxor, Aswan, Red Sea, New Valley, and Matruh. In March, Arabtec signed a cooperation protocol with the armed forces Engineering Authority to construct and fund 1m integrated housing units and associated facilities and services. In a statement issued by Arabtec on 16 November, the company announced that it is working to complete negotiations with the Egyptian government before the end of 2014. The agreement stated that Arabtec will receive project land and hand units over to the government in exchange for the government providing facilities. The Ministry of Housing will establish all the bases for the project, using state-of-the-art technology during project construction. Additionally, every unit will have a solar heater to save electricity, as well as digital electricity and water metres that operate on prepaid cards. The Urban Communities Authority, a subsidiary the Ministry of Housing, selected El Obour City, Badr City, and New Minya City for Phase One of the project. In this phase, 420,000 housing units will be built, while New Assiut City will be the alternative for Phase One. These cities were chosen due to their large industrial areas and the job opportunities they provide. Employment opportunities will be available for those living in these cities, with the first housing units to be delivered in early 2017. More»
Maha Essam - 2014-12-01 10:01:57
Saudi Egyptian Construction Company – SECON is planning to pump EGP 2 billion worth of new investments early 2015, Amwal Al Ghad quoted CEO Darwish Hassanein as saying on Monday. Hassanein further said SECON’s planned investments in the Egyptian market include the completion of three housing projects, varied between tourist, average and above-average units. The new investments would come in line with finalising SECON’s existing projects, he added. SECON is an Egyptian shareholding company established in 1975 under private international convention between the Egyptian government and Kingdom of Saudi Arabia, with a joint capital of 50 million dollar's divided equally between the two governments. And then added to the company's activity tourism investment and the capital of the company became 75 million dollars was fully repaid equally between Government of Arab Republic of Egypt and Kingdom of Saudi Arabia. The company capital was increased to be 37 Million Dollars in June 2014. More»
Ahmed Ali, Mohamed Hamdy - 2014-11-27 10:41:24
Egyptian Arab Land Bank (EALB) is currently negotiating with the major 5 UAE and Saudi Arabia firms in order to marketing its real estate assets abroad, said Adnan El-Sharkawy, deputy chairman. Speaking to Amwal Al Ghad on Thursday, El-Sharkawy explained that the bank will choose 3 firms among the 5 major firms for a bid to select the firm which will marketing EALB's assets in exchange for a commission. The bank has recently contracted with Marsa Abu Dhabi Properties LLC to marketing assets for Egyptian abroad in the current year. EALB has real estate assets portfolio estimated at EGP2.7 billion alongside EGP500 million mortgage portfolio in addition to EGP350 million the bank obtained from mortgage Fund. More»