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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        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Northern Upper Egypt Developme   4.93        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        Egyptian for Tourism Resorts   0.69        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        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        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        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        Cairo Poultry   8.32        ARAB POLVARA SPINNING & WEAVIN   2.11        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

Amwal Al Ghad English - 2014-03-09 20:27:05
Arabtec Holding, Dubai's largest listed construction firm, has agreed with the Egyptian army to build one million houses in a project worth 280 billion Egyptian pounds ($40.23 billion), it said in a statement on Sunday. The project, one of the biggest in the region, is seen as a boost to the country of 85 million which has been struggling to attract tourists and foreign investors, amid political turmoil, and saw its foreign reserves drop to a critical low last year. It will cover 160 million square meters across 13 sites in Egypt for lower income individuals. The company said it expected that work on the project would start in the third quarter of this year and be completed before 2020. The firm did not say how the project will be financed but Hasan Ismaik, Arabtec's chief executive told Reuters on the sidelines of a press conference in Cairo said that the land will be given for free. Ismaik added that there will be an agreement with around 40 banks in Egypt to provide financial facilities for limited income individuals. Egypt's economy has been struggling since a mass uprising toppled autocrat Hosni Mubarak in 2011 when millions of Egyptians took to the streets calling for social justice and better distribution of wealth as well as an end to corruption. One year later, the same demands emerged bringing an end to Islamist President Mohamed Morsi who was toppled after only one year in office when the army, prompted by mass protests, ousted him on July 3. The United Arab Emirates, Saudi Arabia and Kuwait have pledged more than $12 billion to help boost Egypt's economy. More»
Amwal Al Ghad English - 2014-03-09 15:18:05
Egypt’s powerful military chief is launching a housing initiative to build a million homes for the poor, in the first campaign-style move by Field Marshal Abdel-Fattah al-Sisi, who is widely expected to run for president. Military spokesman Ahmed Ali said on Sunday that the “For Egypt’s Youth” initiative will be established through cooperation between leading UAE construction company Arabtec and the Egyptian armed forces. The collaboration is planned to continue for five years, Ahram Online reported. The initiative is dedicated to “Egypt’s youth” and is a first step to solve the country’s housing problem. Senior generals close to Sisi have told The Associated Press he is focusing on the country’s myriad of economic problems. On Sunday, El-Sisi, who is minister of defence, met with managing director of Arabtec Hassan Abdullah Smeik to discuss the details of the project, including where the units will be built, and the time frame of the work. “This project is the fruit of the wise guidance of [UAE’s crown prince] Sheikh Mohamed Bin Zayed and his concern for providing support to the current Egyptian leadership for the advancement of Egypt,” said Smeik during the meeting, adding that his company is proud to collaborate with the Egyptian armed forces in establishing “the largest housing project in the Arab region.” Smeik added that the project will not only provide millions of low-income Egyptians with housing, but will also provide jobs for more than one million people. The UAE, a staunch opponent of the Muslim Brotherhood, has been a strong supporter of transitional authorities in Egypt. The Gulf state has provided Egypt with almost $7 billion in grants, loans and oil shipments since the ouster of president Mohamed Morsi in July 2013. Speaking to the Financial Times in February, Mohammed Kandil, political secretary at the Egyptian embassy in Abu Dhabi, said that the UAE is keen on having its aid used to finance “projects that have specific development or non-profit goals and are directed at poor people.” Sisi hasn’t made an official announcement yet, but has strongly indicated he would run. The elections expected in April are the first since the military ousted elected Islamist President Mohamed Morsi in July following mass protests against him. More»
Amwal Al Ghad English - 2014-03-05 10:09:45
Egyptian property developer Talaat Moustafa (TMGH.CA)'s net profit for 2013 rose 7.2 percent year-on-year to 585.19 million Egyptian pounds ($84.1 million), it said in a statement published by the bourse on Wednesday. Talaat Moustafa's revenues reached 4.86 billion pounds in 2013 in comparison with 4.64 billion pounds the previous year, Reuters reported on Wednesday. More»
Amwal AL Ghad Engish - 2014-02-27 07:15:12
Egyptians Housing Development & Reconstruction (EHDR) reported financial results posting a net profit of LE 2.5 m for 2013. Noting that, the company reported LE 7.8 m in the previous year. More»
Mohamed Hamdy - 2014-02-25 11:59:38
Head of the Mortgage Finance Fund Mai Abdel Hamid revealed that the fund is aiming to finance 60 thousands new units through Central Bank’s initiative of mortgage finance on the units provided by the fund will be applied starting next week. Abdel Hamid stated that there are a number of amendments on the procedures related to reserving these units so that people of low-income could benefit from this initiative. She added that the initiative will half the interest rate on mortgage finance to 7 percent instead of 14 which will help increase the number of people who reserve the units. Abdel Hamid said this initiative will help ease the housing crisis in addition to the social housing project and other projects implemented by the state and private sector. More»
Amwal AL Ghad Engish - 2014-02-24 08:24:53
Abraaj Capital, today announced an agreement to acquire two Egyptian companies listed in Egyptian stock market. Cairo for Investment and Real Estate Development (CIRA) announced that Abraaj group has made a Mandatory tender offer to acquire 100% of its shares at a price per share not exceeding EGP 20.5. The company added that an initial agreement has been signed through Huxley holding Ltd which is owned by funds owned by Abraaj, with the shareholders representing the controlling stake in the Cairo for investment and real estate development. Abraaj also confirmed that it has signed, through Huxley Holdings Ltd a limited liability company incorporated in Malta and owned by Funds advised by Abraaj, an agreement with shareholders representing a controlling stake  of Cairo for Investment and Real Estate Development , a leading education group, outlining the intent: (i) for Huxley to issue a mandatory tender offer on the Egyptian Stock Exchange  to acquire 100% of the shares of the Company at a price per share not exceeding EGP 20.5, (ii) for the Promoters not to tender their shares in the MTO and to transfer their ownership to a special purpose vehicle owned by the Promoters, and (iii) post completion of the MTO the Company shall initiate a capital raise process for EGP 100m to which Huxley shall subscribe in full. The capital injection will be used to fund investments in the education sector in Egypt. More»
Amwal AL Ghad Engish - 2014-02-18 08:39:57
Emaar Properties' Egyptian subsidiary, Emaar Misr, will spend up to 6 billion Egyptian pounds ($861.91 million) on a residential and commercial project in Cairo after signing a protocol with Egypt's government, it said in a statement. Emaar Square is part of its 4.5 million square metre development called Uptown Cairo which will cost up to 12 billion pounds. On Sunday, Emaar signed a protocol with the Egyptian Ministry of Defence, Ministry of Investment and the Cairo authorities in order to start work on Emaar Square. The firm will begin work on Emaar Drive that will connect Uptown Cairo to key destinations in central and greater Cairo. Egypt has struggled to attract foreign investors due to economic and political instability after the popular uprising toppled autocrat Hosni Mubarak in 2011. The army, prompted by mass protests, overthrew the country's first democratically elected leader Mohamed Morsi in July and the government launched a crackdown on his Muslim Brotherhood supporters, sparking another wave of unrest in the country of 85 million. But the army-backed interim government, supported by more than $12 billion in aid from Gulf Arab states, is pushing on with a political roadmap that will lead to presidential and parliamentary elections this year. More»
Marwa Hemdan - 2014-02-17 13:24:11
Emaar Misr will sign within next week a protocol on cooperation with the Egyptian government so as to carry out its Emaar Square Project, with investments worth EGP 6 billion. Emaar Misr is set to sign the protocol on cooperation with Egyptian Ministries of Defence, Investment, and State for Local Development, as well as Cairo Governorate and Al Nasr Housing and Construction. Upon the protocol, Emaar Misr will start carrying out its Emaar Square Project, which is part of the Uptown Cairo Project centered in the heart of Cairo nestled atop the majestic Mokattam Hills. Moreover, the protocol will include the terms and regulations to implement traffic axes linking East Cairo to West Cairo areas through Emaar Drive project. Emaar Drive is an Emaar Misr project that will connect Uptown Cairo to key destinations in central and greater Cairo. It will directly link Uptown Cairo to the 6th of October bridge and the Ring Road. The phase one of The Emaar Drive Project will enhance ease of access of travelers coming from West Cairo areas such as Mohandeseen and Zamalek through 6th of October Bridge, to the last exit landing on the extension of Ramsis Street. The new road will connect directly to Uptown Cairo’s main gate on the Nasr city side. The trip time from the 6th of October Bridge exit to the Uptown Cairo gate through the new road will be less than three minutes, it added. Phase two of the road project will link Uptown Cairo to the ring road and New Cairo through Shaheed Highway, and will be completed soon. This also complements the Government’s plans to move government entities to New Cairo to overcome the congestion and space constraints in downtown Cairo and facilitate commuting to and from central Cairo to New Cairo.Emaar's project will provide 5,000 temporary job opportunities during its construction period along with more than 15,000 permanent job opportunities after construction. Since inception in 2006, Emaar Misr has carried out businesses worth EGP 10 billion through its three projects; Uptown Cairo in Downtown, Marassi in the North Coast, and Mivida in New Cairo. These implemented businesses approximately account for 20% of the company’s expected investments which are estimated at EGP 53 billion. More»
Amwal Al Ghad English - 2014-02-17 09:05:34
El Kahera Housing & Development (ELKA.CA) will hold a general assembly meeting  on February27 in order to discuss reducing the issued and paid up capital of the firm through cancelling the treasury shares. The Egyptian Financial Supervisory Authority (EFSA) has recently approved to hold the meeting regarding reducing its capital through cancelling the treasury shares which its value up 3.721.998 and the nominal share value reached EGP5 with EGP18.609.990 total value. More»
Amwal Al Ghad English - 2014-02-16 09:43:49
TI’ME Hotels Management will open properties in Ajman, Luxor, Qatar and Abu Dhabi over the next 18 months, taking the group portfolio to 11 properties, Arabian Business reported. The hotel group said a new head office in Dubai and regional office in Cairo will drive expansion plans. This year, the mid-scale TI’ME group will take over the management of the 154 room TI’ME Tut Hotel in Luxor, Egypt as well as the TI’ME Capital Hotel Apartments in Ajman, UAE, with 120 apartments due to be handed over in March. In 2015, the 42-storey Al Jawhara TI’ME furnished apartments will open in Abu Dhabi, and in Qatar the nine-storey TI’ME Rako Hotel will open its doors in the industrial belt of Wakra, close to Doha. TI’ME Hotels CEO, Mohamed Awadalla, said: “Demand for modern, well managed and competitively priced accommodation is rising in all of the major resorts and cities throughout the region. "In this respect local independent hospitality brands are more readily accepted in the value chain. We have a grassroots understanding of the regional markets, our overheads are modest and we are flexible when it comes to respecting an owner’s aspirations.” TI'ME said its new head office covers 360 square metres on the fourth floor of the Al Fattan Plaza, the home of Dubai Government’s Department of Tourism, Commerce Marketing. Additionally, the company is in the final stages of acquiring office space in Cairo, which is due to become operational by March 1. The office will serve as a platform for supporting sales and marketing in Egypt and expansion plans for the area. TI’ME Hotels Management recently marked its first foray into the Abu Dhabi market with the opening of the 72-unit TI’ME Pearl Residence. More»