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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        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        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        Egyptians Housing Development    1.94        United Arab Shipping   0.43        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        National Development Bank   6.72        Six of October Development & I   15.03        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        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        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        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

Amwal Al Ghad English - 2014-02-15 13:28:06
Leading regional developer Amer Group (AMER.CA) has begun construction work on the first phase of its EGP 6 billion Porto October project, a purpose-built city that will serve as a downtown core and residential center for Sixth of October, a Cairo suburb. The 1.38 million square meter development is set to become a landmark in entertainment and service as family-friendly destination that comprises mega-malls, a children’s amusement park, hotels, sports clubs, schools, and communal green space, in addition to 80 restaurants and a hospital. Porto October project will feature villas, duplexes, twin houses and apartments with unique designs and competitive prices. “Porto October represents a decisive move into the first-home market and capitalizes on the strength of the brand we have developed in the resort and second-home sectors,” said Mansour Amer, Founder and Chairman of Amer Group. “I am delighted to report that 85% of retail, commercial and residential units in the first phase of the development have been sold on the back of a strong national marketing complain,” he added. More»
Amwal Al Ghad English - 2014-02-12 10:06:22
There are 1211 nation-wide informal areas in Egypt, therefore, the current government is working on an upgrading plan to start with the most unsafe areas, the Egyptian Housing minister said on Tuesday. Minister of Housing Eng. Ibrahim Mehleb stated that the current scheme focus on developing the most unsafe informal settlements in Egypt, which locate over the slopes of mountains alongside areas nearby the electrical cables In his keynote speech at Cityscape Egypt Business Breakfast held on Tuesday, minister Mehleb revealed a cooperation protocol signed with the Ministry of Social Solidarity and an Egyptian non-governmental grant-making foundation, Sawiris Foundation for Social Development. The recently signed protocol aims to upgrade and redevelop utilities for the slums. Cityscape Egypt, one of the leading real estate exhibitions in the Middle East and the world, discussed during the business breakfast on Tuesday ways for supporting the Egyptian real estate industry at the Cityscape Egypt Business Breakfast in the presence of Minister Saleh on behalf of Egyptian Prime Minister, Dr. Hazem Al Biblawy and Eng. Ibrahim Mehleb, Egyptian Minister of Housing, Utilities and Urban Development. According to recent studies made by German Agency for International Co-operation (Deutsche Gessellschaft fur Internationale Zusammernarbeit) or  GIZ, 11 million citizens are living in informal areas in Egypt and are lacking the suitable services and suffering unemployment. Informal areas are a global phenomenon that have amplified on a long term and increased dramatically especially in the global south cities. In Egypt, informal areas emerged in the 1960s and inflated enormously in their distribution inside and around the urban mass. Greater Cairo, as one of the metropolitan cities, with around 17 million inhabitants, contains a vast number of informal areas of more than 40% of the GCR urban mass. The increase of the rural migration to the centralized Cairo, and the saturation and limitation of the formal housing contributed greatly to such phenomenon. Residents of informal areas, in Egypt, suffer from the lake in the basic urban services (among other; clean water supply, electricity and sewage). More»
Amwal Al Ghad English - 2014-02-12 08:18:56
Egypt has settled 80 disputes with both local and foreign property companies during the last 3 years, notably UAE’s Damac Properties Development Co, Palm Hills Development Holding, and SODIC, the country’s Investment Minister Osama Saleh noted on Tuesday. The ministry will disclose the details of the settlement agreements within the upcoming period, he added. During Cityscape Egypt Business Breakfast which was held in Cairo on Tuesday, minister Saleh asserted that the Egyptian government is supporting the real estate sector and keen to increase growth in it since it is considered one of the most active sectors in Egypt. The Egyptian government has reviewed comprehensively the investment laws and amending a package of laws to add more protection to the investors. "The government is keen to increase growth in the real estate sector, which is considered one of the most active sectors in Egypt," commented Osama Saleh, Minister of Investment. "We are working aggressively on amending legislations which will create an attractive investment climate. In addition, we are working to finalize all investor settlement cases in order to reinstate investor confidence in Egypt." He explained that the proposed amendments to real estate funds will give investors more flexibility, aim at attracting investment and support growth of the real estate sector in the coming period. “We (the Egyptian government) also want to attract Arab and foreign investors and make them feel protected.” Moreover, the Egyptian minister said in order to support the economy in a direct way, the government has been entrusted with a political road map which includes to consolidate first the state institutions followed by holding elections; whereas the second map is the economic road map which addresses the pressing issues that have been faced since the outbreak of the two uprisings. Cityscape Egypt, one of the leading real estate exhibitions in the Middle East and the world, discussed during the business breakfast on Tuesday ways for supporting the Egyptian real estate industry at the Cityscape Egypt Business Breakfast in the presence of Minister Saleh on behalf of Egyptian Prime Minister, Dr. Hazem Al Biblawy and Eng. Ibrahim Mehleb, Egyptian Minister of Housing, Utilities and Urban Development. It is worth noting that the government is currently adopting new laws aiming to facilitate smooth investments in Egypt to support growth rates in the real estate sector. Eng. Ibrahim Mehleb, Minister of Housing, Utilities and Urban Development, also stated, "The current government is working to provide a favorable climate for investors by tackling all challenges they are currently facing." "The coming period will witness the launch of several new real estate projects in Egypt ranging from residential, administrative and retail facilities to commercial and tourism," said Wouter Molman, Director of Cityscape Group. We are observing renewed activity in the market following the recent change in the political situation and long-term roadmap that the interim government is working to achieve. The new legislative amendments are key to reigniting confidence in the country and to creating attractive favorable climate for attracting Foreign Direct Investment (FDI). Egypt has seen notable growth in FDI during the first quarter of the fiscal year recording an unprecedented $1.246b." More»
Amwal Al Ghad English - 2014-02-12 07:53:40
Cityscape Egypt, one of the leading real estate exhibitions in the Middle East and the world, today discusses ways for supporting the Egyptian real estate industry at the Cityscape Egypt Business Breakfast in the presence of Mr. Osama Saleh, Minister of Investment on behalf of Egyptian Prime Minister, Dr. Hazem Al Biblawy and Eng. Ibrahim Mehleb, Egyptian Minister of Housing, Utilities and Urban Development. The event will aim to create a platform of open discussion on investment opportunities, challenges, and proposed solutions to support growth in the Egyptian real estate sector. The event will also sheds light on the recent political developments in the country and will play a role in driving the economy forward and creating an attractive investor climate. Mr.Osama Saleh, Minister of Investment on behalf of Egyptian Prime Minister Dr. Hazem El Biblawy will deliver the opening address in the presence of leading industry leaders and decision makers including: More»
Amwal Al Ghad English - 2014-02-12 07:47:21
Orascom Construction Industries (OCIC) reported financial results posting a net loss of LE 628.5 m for the period for the fiscal period ended 30/ 9 /2013. Noting that, it posted net profits of LE 2375.1 m for the comparable period. More»
Islam Salah - 2014-02-04 10:38:52
Financial service company Premiere Securities S.A.E. is set to a new real estate investment trust (REIT) within this year, Amwal Al Ghad’s Arabic website reported on Tuesday. According to the Chairman of Premiere Securities Dr. Ahmed Adel, the planned REIT will be with an initial capitalization worth EGP 250 million and up to a maximum of EGP one billion. “Premiere is set to start its new scheme after the completion of ongoing amendments to the regulations governing the work of the investment funds (in Egypt).” He added Moreover, Adel referred that Premiere is also planning within the current year to activate direct investments transactions. “Upon our Nominated Advisor licence, Premiere plans to enlist two new firms on NILEX (Egyptian Exchange for the Small and Medium-sized enterprises) within 2014.” Premiere Securities is a financial service company in the Egyptian Stock Market. The company offers portfolio management, research services, brokerage and trading. More»
Amwal Al Ghad English - 2014-02-03 08:50:09
Arabtec Holding Co. (ARTC) has won a 22.44 billion dirham ($6.1 billion) contract from Aabar Properties to build 37 towers in Dubai and Abu Dhabi, it said in a statement today. The shares climbed 6.1 percent. The deal includes the construction of hotels and residential buildings, the company said in a statement to the Dubai stock exchange. Aabar plans to award Arabtec $20 billion of deals in countries including the U.S., Egypt, Morocco and Serbia, according to Arabtec’s statement, citing Aabar Chairman Khadem Al Qubaisi. Aabar Properties is a unit of Aabar Investments PJSC. Arabtec shares gained to 4.54 dirhams at 10:44 a.m. in Dubai. Contractors and property companies are benefiting from a resurgence in the United Arab Emirates’ real estate market, where prices more than halved at the peak of financial crisis in 2008. Prices for mid-range apartments rose 43 percent in 2013, after climbing 18 percent in 2012, according to Cluttons LLC data on Bloomberg. “The Arabtec news is a huge positive,” said Nayal Khan, head of institutional sales and trading at Naeem Holding in Dubai. “It’s a 22 billion dirham contract to build 37 buildings. That’s more than 50 percent of its backlog, which is completely unheard of.” Dubai-based builder Arabtec last month won a 5.7 billion dirham contract to build an amusement park in Jordan, and plans to open an office in Baghdad. The company will open regional headquarters in Belgrade, Serbia to drive expansion into the Balkan region, according to an announcement last month. It also won a 2.59 billion dirham contract to build a mixed-use project in Abu Dhabi. Bank of America Merrill Lynch last month recommended investors buy Arabtec’s stock, revising its price estimate to 3.6 dirhams from 1.98 dirhams. The shares have increased more than 60 percent so far this year, more than four times the gains on Dubai’s benchmark stock exchange. More»
Amwal Al Ghad English - 2014-02-01 17:05:49
Real estate event organiser Cityscape Egypt will hold its annual Business Breakfast on 11 February with Minister of Housing Ibrahim Mahlab to explore potential investment opportunities in the real estate sector, the company announced. “We are currently working on a creative a more attractive environment by tackling challenges facing the sector,” Mahlab said. “The real estate market is full of investment potential, creating a steady path for sustainable economic development.” The minister also mentioned that disputes between the New Urban Communities Authority (NUCA) and real estate developers have been settled, with developers being offered a new incentive bundle to facilitate investment in the market. The minister pointed out that NUCA is also working on legislative amendments aiming at regaining the trust of investors. Wouter Molman, director of Cityscape Group, said that a wave of new projects was launched in the real state sector “with the ever-increasing number of residential, retail, hospitality and commercial development.” “We are very excited about this year and look forward to enhancing and supporting a vision for real estate growth in Egypt,” Molman added. Among prominent panelists slated to attend are Ayman Ismail, partner-chairman and CEO of DMG Mountain View; Mohamed Fares, CEO of Raya Smart Buildings; Mohmaed El-Mikawi, managing director of Al Futtaim Group Real Estate; Alex Mavridis, chief investment officer at Al Dau Development in Sami Saad Holding; and Ahmed Badrawi, managing director of SODIC. The focus of this year’s exhibition will be foreign direct investments (FDI) in the sector, mainly driven by the Gulf investment groups. Cityscape Group pointed out that market analysts have indicated that the injection of Gulf capital will help offer liquidity for small companies and subcontractors, which in turn would take pressure off the market, allowing the sector to deliver the latest technology, operational practices and internationally employed financing tools. On 28 January, Mahlab issued Ministerial Decree 67/2014 to amend “executive regulations” in the Construction Law regarding land divisions. “Land division rules determined by the old law were cut into two rules instead of three in order to ease the process for applicants,” Nafisa Mahmoud, head of the ministry’s housing and utility division, mentioned in a ministerial statement. Land divisions refer to the allocation of space given to roads, streets, hospitals, schools and infrastructure within the lands purchased to found a new city. A day earlier, the Ministry of Housing, Utilities and Urban Development sponsored the “Your Estate” conference, aimed at defining the challenges facing the real estate and housing sectors and discussing how such challenges could be overcome. More»
Amwal Al Ghad English - 2014-01-30 09:19:08
Orascom Construction (OC) recently signed $300m in contracts, securing new work in Egypt and Kingdom of Saudi Arabia (KSA), according to an official statement issued by the company. “In Egypt, OC has been awarded several new commercial packages to support real estate developers, including Emaar Misr and Palm Hills Development,” the statement read. “The company has secured infrastructure contracts in several municipalities throughout the country,” the statement added. Mother company OCI NV signed contracts to work in the United Arab Emirates (UAE), Qatar and the United States, also in 2014. OC Chief Operating Officer Osama Bishai said: “Our wholly owned brands have enjoyed a strong start in 2014, securing new work in several core markets with a total contract value exceeding $600m.” Bishai said that the company’s management is confident in OC’s ability to outperform initial forecasts. OCI NV owns 50% of BESIX Group, a company which has also been awarded new contracts in the UAE, KSA and Qatar totaling $670m. BESIX Group will conduct infrastructure work on four new bridges connecting various islands in Abu Dhabi, a new expressway in Qatar and a new Kempinski Hotel in Jeddah. More»
Amwal Al Ghad English - 2014-01-15 08:47:43
Arabtec Holding PJSC, a leading engineering and construction Group specialising in complex projects in the Middle East and North Africa region, announced today that its subsidiary, Arabtec Construction, has been awarded an AED2.59 billion contract for construction of a mixed-use development in Al Reem Island, Abu Dhabi. The project, to be constructed on a plot area of 32,000 m2 as part of Al Reem Island, and a built up area of around 350,000 square meters, will house a 61-storey residential tower, featuring 613 furnished apartments and another 15 storey C-shaped tower that will host a five star hotel offering 400 guest rooms and 200 serviced apartments. The two towers will be connected by a ballroom and retail block extending 4,600 sq.m in area. The development will also have 3,275 sq.m food and beverage space and 3,795 sq.m function space. Negotiations are underway with a number of world-leading hospitality brands for the management of the hotel and serviced apartments. More»